EBA欧洲银行-EBA-MB-2017-082-28Final-Minutes-MB-07-June-2017-for-PUBLICATION29_9页_402kb

EBA Management Board Meeting Summary – 07 June 2017

Core Content

The EBA Management Board (MB) convened on 07 June 2017 in London to review various agenda items, including the approval of the 2016 annual accounts, the renewal of BSG members, strategic objectives for the 2018 work programme, and updates on ongoing projects and initiatives. The meeting also addressed issues related to internal document disclosure, SCConFin supervision work, equivalence assessment, and the preparation of future meetings.

Main Agenda Items and Key Points

1. Welcome, Approval of Agenda and Minutes

• The MB approved the provisional agenda and minutes of the previous meeting (EBA MB 2017 059rev1).
• The Chairperson welcomed the new member from the National Bank of Belgium and thanked the outgoing member from the Bank of Spain for their contributions.
• A call for candidates was launched to elect a new member to the Bank of Spain (BoS).

2. Administrative and Operational Status Report

• The Executive Director presented the budget execution status and noted a continued flow of applications for vacancies despite Brexit-related uncertainty.
• Training offers for both EBA staff and CAs had increased, with more online courses available for CAs.
• The eGate 2.0 project was discussed, including a change in the financial envelope due to identified deficiencies.
• EUCLID project discussions with the ECB on master data enforcement were ongoing, with progress to be reported at the September 2017 meeting.

3. Approval of the EBA 2016 Annual Accounts

• The EBA's Accounting Officer presented the 2016 annual accounts and requested the MB's opinion.
• The European Court of Auditors found no observations or remarks.
• The only issue raised was the disclosure of contingent liabilities related to the relocation of the EBA.
• It was noted that the relocation would affect asset depreciation, with immovable assets being written off or depreciated and movable assets retained.
• The MB agreed to discuss the impact of relocation further after the European Council's October 2017 decision.

4. Renewal of BSG Members

• Two new BSG members were to be appointed from the 'cooperative and saving banks' subcategory.
• The EBA proposed candidates from the 2015 public call, ensuring geographical and gender balance.
• Concerns were raised about the nationality of the proposed candidates and their country representation in the BSG.
• The MB encouraged reflection on the comments and consideration of alternative proposals.

5. Strategic Objectives for the EBA 2018 Work Programme

• The Chairperson outlined the key priorities for 2018, including data analysis, infrastructure, Brexit, FinTech, and training.
• A proposal to merge related activities was presented to streamline the work programme.
• The MB agreed that the Work Programme would be finalised with their and the BoS's approval by September 2017.

6. Internal Report on the Unauthorised Disclosure of EBA Internal Documents

• An internal investigation was conducted following the leak of a document on SCA and CSC under PSD2.
• The MB agreed to share the report with the BoS and invite its members to provide relevant information.

7. Update on SCConFin Supervision Work

• The Chairperson presented the outcomes of the pilot workshop on product oversight and governance (POG) and the current state of consumer protection supervision.
• Concerns were raised about differences in regulation and enforcement across Member States.
• Members supported the work on supervisory convergence and suggested using tools like Q&As, benchmarks, and score cards.
• The EBA was advised to develop a general supervisory methodology with defined criteria and success measures.

8. Note on Notification Reports

• The EBA requested CAs to submit notifications and sanctions via eGate 2.0 once it went live by end 2017.
• Concerns were raised about resubmitting past notifications, and the EBA suggested assessing a subset of relevant notifications.
• The EBA would explore alternatives to retain information if notifications were not resubmitted.

9. Discussion on Future Work on Equivalence Assessment

• The Commission expressed an intention to increase the ESAs' role in equivalence assessment.
• The EBA highlighted the resource intensity of equivalence work and the need for close engagement with third countries.
• Members discussed the implications of Brexit on equivalence assessments and the potential changes in the regulatory framework for investment firms.
• The EBA would finalise a report on the new prudential framework by September 2017, clarifying the treatment of classes 2 and 3 investment firms.

10. Annual Report on Resolution Colleges

• The first annual report on resolution colleges was presented, covering the first year of functioning for 24 banking groups.
• The report was not intended for publication, but a summary version was suggested to put pressure on resolution authorities.
• The MB took note of the report, which would be tabled at the BoS meeting of 27-28 June 2017.

11. Provisional Agenda for the BoS Away Day 2017

• The topics for the BoS away day in Tallinn were outlined, including proportionality and non-performing loans (NPLs).
• The EBA was to provide advice on a blueprint for an asset management company (AMC).

12. Provisional Agenda for the BoS 27-28 June Meeting

• The MB was invited to comment on the proposed agenda for the upcoming BoS meeting.
• Members inquired about the EBA's approach to the fit and proper guidelines.

13. AoB (Agenda for the Board)

• The MB agreed to the co-chairmanship of the SCOP by the EBA's Director of Oversight and a BoS member.
• The EBA was asked to continue circulating to the MB and publishing regulatory dashboards.

Conclusion

The meeting concluded with the MB's approval of the 2016 annual accounts and a commitment to refine the 2018 Work Programme. The EBA was instructed to continue its work on equivalence assessment, engage with ESMA, and prepare a report on the new prudential framework for investment firms. The MB also supported the co-chairmanship of the SCOP and the publication of a summary version of the resolution colleges report.