The European Banking Authority (EBA) published today a consultation paper on a draft Implementing
Technical Standard (ITS) on reporting of large exposures (CP51). The
public consultation starts today and runs until 26 March 2012.
The European Banking Authority was established by Regulation (EC) No.
1093/2010 of the European Parliament and of the Council of 24 November
2010.
The EBA has officially come into being as of 1 January 2011 and has
taken over all existing and ongoing tasks and responsibilities from the
Committee of European Banking Supervisors (CEBS).
The EBA acts as a hub and spoke network of EU and national bodies
safeguarding public values such as the stability of the financial
system, the transparency of markets and financial products and the
protection of depositors and investors.
Main features of this ITS
This consultation paper puts forward a draft ITS on reporting of large exposures as requested by Article 383 of the Capital Requirements Regulation (CRR) and represents an addendum to the ITS proposal on supervisory reporting requirements published on the EBA’s website on 20 December 2011.
This draft ITS aims at implementing uniform reporting requirements which are necessary to ensure fair conditions of competition between comparable groups of credit institutions and investment firms. Uniform requirements will ultimately make institutions more efficient and result in a greater convergence of supervisory practices.
The ITS on reporting has been developed on the basis of the guidelines on common reporting of large exposures. The draft ITS will be covering both (i) information needed to check institutions’ compliance with the large exposure regime as set out in Articles 376 – 392 of CRR and (ii) information on concentration risk which competent authorities need to analyse as per Article 79 of the Capital Requirements Directive (CRD). The scope and level of application are in line with the CRR, currently under discussion by the EU legislators.
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