EBA欧洲银行-EBA-BS-2012-075EBA-minutes-BoS-3-4-April-2012_11页_369kb

Summary of the EBA Board of Supervisors Meeting (3-4 April 2012)

Core Content

The EBA Board of Supervisors met in London on 3-4 April 2012, covering a range of topics related to regulatory procedures, supervisory activities, and budgetary matters. The meeting was structured into multiple agenda items, each addressing specific issues, with a focus on alignment, clarification, and the preparation of technical standards and reports.

Main Agenda Items and Key Points

Agenda Item 1: Opening, Welcome & Approval of Agenda and Minutes

• The Chairperson, Andrea Enria, opened the meeting and provided a brief update on the informal ECOFIN meeting held on 31 April 2012.
• The agenda and minutes of the previous meeting were approved.

Agenda Item 2: Revised Rules of Procedure for the EBA BoS

• The three ESAs (European Securities and Markets Authority, European Insurance and Occupational Pensions Authority, and European Banking Authority) are working to align the BoS Rules of Procedure.
• Key amendments focus on clarifying voting procedures, particularly regarding majorities and written voting.
• The Board was invited to submit comments on the revised RoP via written procedure by Friday 13th April 2012.

Agenda Item 3: Proposed Aligned Common ESA RoP for Mediation

• The EBA draft RoP on mediation was presented, developed through coordinated work among the three ESAs.
• The document will be submitted to the next Joint Committee meeting on 24 April 2012 as a proposal for a joint position.
• Two main issues were discussed: the structure of the mediation panel and the discretion of the panel in accepting mediation requests.
• The Board was invited to provide written comments on the draft RoP by 13th April 2012.

Agenda Item 4: Draft Internal Process and RoP on Investigations regarding Breach of Union Law

• The draft internal process and RoP on investigations were developed by the three ESAs and agreed to be aligned.
• The Board was asked to submit written comments by 13th April 2012.

Agenda Item 5: Follow-up on Emergency Measures according to Article 18 (3)

• The Board reviewed the interpretation of Article 18(3) of the EBA Regulation, addressing concerns raised in the Meroni case.
• The EBA staff noted that the interpretation is compatible with the Meroni case due to the safeguards in place.
• The Board supported the EBA’s explanation.

Agenda Item 6: Preliminary Budget for 2013

• The Executive Director explained that the preliminary budget for 2013 was to be submitted to the Commission by the end of March.
• The Board formally approved the budget, conditional on the resolution of the 2011 surplus issue.
• The EBA proposed that 40% of the surplus be returned to the Commission and 60% to national authorities.

Agenda Item 7: Analysis of the proposed CRD4 CRR Compromise Text and EP Draft Report for Amendments

• The Board supported the EBA’s staff paper and agreed that it identified the right topics for supervisory focus.

Agenda Item 8: Follow-up on Recapitalisation Exercise

• The Director Oversight outlined issues related to banks' capital plans, including feasibility, changes, delays, and back-up mechanisms.
• Members shared insights on specific cases in their jurisdictions.
• The Chairperson emphasized the need for prompt communication and readiness of backstops by June.

Agenda Item 9: Presentation on Risks

• The SCOP chair presented on ongoing risks and vulnerabilities identified in the SCOP discussion.

Agenda Item 10: Stress Test

• The Board approved the report on the 2011 EU-wide stress test for formal approval via written procedure.
• A discussion was held on key components for the 2013 stress test, including sample size, scope, scenarios, methodology, and publication.

Agenda Item 11: Draft RTS on Own Funds - Consultation Paper

• The Board approved the draft RTS on Own Funds for consultation.
• A 24-hour window was allowed for a Member’s drafting suggestion.
• The EBA and Commission were encouraged to collaborate on a Q&As framework for BTS and CRR.

Agenda Item 12: Guidelines on Internal Governance: Fitness and Propriety for Management Bodies and Key Function Holders

• The Board approved the proposed CP on suitability for publication, subject to amendments:
  • Replacing "shall" with "should"
  • Including questions on proportionality and key function holder policies
  • Extending the consultation period to three months

Agenda Item 13: Survey of Practice Results on Remuneration

• The Director Regulation explained the purpose of the survey to assess national implementation of remuneration guidelines.
• The Board approved the report for publication and noted the EBA’s plan to release guidelines on data collection soon.

Agenda Item 14: Progress on SME Project

• The EBA is working on two Commission requests: one related to CRR (due by end of 2012) and one regarding the reduction of RW in the Standardised approach.
• The EBA will review SME identification thresholds and analyze the impact of increasing the threshold from 1 to 5 million Euros.
• The report on the threshold increase is due by 1 September 2012.
• A task force for SMEs will be formed, with experts nominated by NSAs by next week.

Agenda Item 15: Update on the work of TCOR

• The TCOR Chair reported on progress, with the work plan expected to be finalized by the June meeting.
• The group is collaborating with other task forces and will contribute to the Basel Committee's work on RWAs.
• The trading book is part of the mandate but will not be addressed before mid-year.
• Residential mortgages and SMEs are highlighted as high-priority areas.

Agenda Item 16: Basel 3 Monitoring Report

• The Bundesbank representative presented the Basel III monitoring report, based on June 2011 data.
• The report was previously circulated for comments and incorporated into the final version.
• The Board approved the report for publication.

Agenda Item 17: Reports from Committees

• The Board reviewed progress from SCARA, SCRePol, SCOP, the Joint Committee, and SCCPaFI2.

Agenda Item 18: AoB (Agenda for the Board)

• The meeting was adjourned after the Chairperson confirmed that the EBA will prepare a response to the Commission’s recent paper on crisis management and bail-in.

Conclusion

• The meeting concluded with the adjournment, and the EBA will follow up on the Commission’s paper on crisis management and bail-in.
• The Board approved several key documents and draft texts, with conditions on resolving surplus issues and submitting comments via written procedure.
• A task force for SMEs is to be formed, and the EBA is preparing for the publication of technical standards and guidelines.

Participants and Observers

• Voting Members: Representatives from 17 national central banks (NCBs) and the Alternate Chairperson.
• Observers: Representatives from Norway, Iceland, Liechtenstein, Croatia, and the European Commission, ESRB, EIOPA, ESMA.

Key Staff Members

• Executive Director: Adam Farkas
• Director Oversight: Piers Haben
• Director Regulation: Isabelle Vaillant
• Director Operations: Peter Mihalik
• Staff Members: Delphine Reymondon, Marian Nieto, Paolo Bisio, Bernd Rummel, Michelle Ewing, Patricia Juanes, Joseph Mifsud