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Andrea Enria Public Meeting Register – 1Q2017 Summary

Core Content Overview

Andrea Enria, the European Banking Authority (EBA) Chairperson, participated in a series of meetings and events between January and April 2017. These engagements covered a wide range of topics related to banking regulation, financial stability, Brexit implications, and the development of the EU financial market. The meetings involved stakeholders from across Europe, including national banking associations, regulatory bodies, and international institutions.

Main Topics and Themes

Basel IV and Prudential Regulation

• Discussions on the finalisation of Basel IV and its interaction with the Capital Regulation Directive (CRD V).
• Focus on the implementation of Basel III and its impact on the banking sector.
• Topics included total-loss absorbing capacity (TLAC), bank resolvability, and the regulatory treatment of accounting provisions under IFRS 9.

Non-Performing Loans (NPLs)

• Multiple meetings were dedicated to the management of NPLs, including the proposal for an EU-wide asset management company.
• Themes included the impact of NPL sales on risk-weighted assets, proportionality in regulation, and the role of asset management companies in addressing the NPL challenge.

Brexit and Regulatory Implications

• Enria engaged in several meetings to discuss the implications of Brexit on EU banking and financial regulation.
• Topics included the potential extraterritoriality of EU regulatory frameworks, relocation of EBA, and the impact on the banking operating environment.

Regulatory Developments and Reforms

• Meetings covered recent regulatory developments such as the revised Directive on Payment Services (PSD2), the Fit & Proper assessment guidelines, and the implementation of the Single Resolution Board (SRB) and the Single Supervisory Mechanism (SSM).
• The EBA's involvement in the European Capital Markets Union (CMU) and the review of the European System of Financial Supervision (ESFS) was also discussed.

FinTech and Digital Banking

• Enria participated in discussions on the future of digital banking and FinTech.
• Topics included the impact of digital transformation on financial services, the role of the EBA in shaping digital regulations, and the challenges posed by technological innovation.

Derivatives and Market Infrastructure

• Conversations on the implementation of BCBS-IOSCO margin requirements for non-centrally cleared derivatives.
• Topics included the role of central counterparties (CCPs) in recovery, resilience, and resolution of financial institutions.

International Collaboration and Exchange

• Enria attended events and meetings with international bodies such as the Financial Stability Board (FSB), the Bank for International Settlements (BIS), and the International Monetary Fund (IMF).
• Discussions included stress testing, the global regulatory landscape, and the possibility of cooperation between EBA and other international institutions.

Key Stakeholders and Institutions Engaged

• French Banking Federation (FBF)
• Fixed Income, Currencies and Commodities (FICC) Markets Standards Board Limited (FMSB)
• European Medicines Agency (EMA)
• European Investment Bank (EIB)
• Bank of England
• Committee on Economic and Monetary Affairs (ECON) of the European Parliament
• European Financial Reporting Advisory Group (EFRAG)
• International Swaps and Derivatives Association (ISDA)
• European Association of Co-Operative Banks (EACB)
• German Savings Banks (DSGV)
• Standard & Poor’s (S&P)
• Moody's
• Credit Agricole
• BNP Paribas
• Citi
• Western Union
• Luxembourg Bankers Association (ABBL)
• Bank of America Merrill Lynch
• IMF
• BIS/FSI
• FSB
• Italian Banking Association (ABI)
• British Banking Association (BBA)
• European Data Warehouse
• Deloitte
• JP Morgan
• Soros
• Austrian Authorities
• U.S. Commodity Futures Trading Commission (CFTC)

Key Outcomes and Agendas

• Policy Dialogue and Keynote Speeches: Enria delivered keynote speeches and participated in panel discussions on topics such as Basel IV, NPL management, and the future of digital banking.
• Consultation and Collaboration: The EBA engaged in consultations with various stakeholders, including the European Central Bank (ECB), the European Securities and Markets Authority (ESMA), and the European Stability Mechanism (ESM), to align on regulatory priorities and challenges.
• Regulatory Implementation: There were discussions on the implementation of the Capital Requirements Directive (CRD V) and the Capital Requirements Regulation (CRR II), as well as the implications of the new EU Banking Reform Package.
• Brexit Impact Assessment: The EBA explored the potential effects of Brexit on the regulatory and supervisory environment, including the relocation of agencies and the extraterritorial reach of EU regulations.
• Stress Testing and Financial Stability: Enria participated in a joint EBA-IMF colloquium on stress testing and financial stability, highlighting the importance of these tools in assessing the resilience of the financial system.

Conclusion

Andrea Enria’s 1Q2017 engagements underscored the EBA’s active role in shaping and implementing regulatory frameworks across the EU and globally. The meetings focused on critical issues such as Basel IV, NPL management, Brexit, and the future of financial services in a digital and uncertain environment. These interactions aimed to foster dialogue, alignment, and cooperation among European and international stakeholders to ensure a stable, resilient, and innovative financial sector.