EBA欧洲银行-EBA-MB-2013-103-28Final-MB-minutes-20-November-201329_8页_316kb

Summary of EBA Management Board Meeting – 20 November 2013

Core Content

The EBA Management Board (MB) meeting held on 20 November 2013 covered a range of topics related to regulatory processes, IT projects, and institutional governance. The meeting aimed to align on key methodological issues, improve the Q&A process, and ensure the effective implementation of various regulatory initiatives.

Main Agenda Items and Key Points

1. Stress Test Preparation for 2014

• The MB approved the postponement of the EU-wide stress test to 2014 and the freezing of methodology work.
• A pass/fail capital type exercise was discussed as a conceptual setting for the 2014 stress test.
• The MB requested input on the threshold level, methodological consistency, and treatment of convertible capital instruments.
• The Chairperson proposed setting up a restricted team to draft a proposal for the methodology and a timetable, with a follow-up meeting in early January.
• The MB supported a common scenario, methodology, and disclosure, but emphasized the need to avoid national discretion that might lead to divergent stress tests.
• Involvement of the ECB and ESRB was recommended to ensure alignment and consistency.

2. Q&A Process and Related Observations

• The Director of Regulation highlighted the complexity and volume of questions, prompting changes to the Q&A tool and process.
• The MB endorsed the need to prioritize questions and reduce the number of submissions.
• Proposal 2 (improving coordination with institutions and associations) was supported, and a new IT tool was suggested to track questions and prevent duplication.
• The Chairperson proposed a fast-track process for simpler questions, with extended timelines for complex ones.
• Institutions and professional associations should be involved in pre-submission discussions.
• The BSG was advised to provide input on the process.

3. Notifications Process

• A Project Brief on Notifications was prepared to develop tools for processing notifications under CRD4 and CRR.
• The tentative kick-off date for the IT project was set for July 2014.
• The MB approved the Project Brief, despite concerns over the timeframe and resources.
• Accelerated collection of information was suggested, to be reviewed in the first quarter of 2014.

4. Own Funds List

• The CET1 instruments list is required under Article 26 of the CRR.
• The MB agreed on the general process but objected to identifying instruments reviewed by the EBA separately, as it might create suspicion.
• A strong disclaimer was agreed upon for the list's publication.

5. Revision of the 2011 EBA Decision on the Register

• The title of the register was changed from "Financial Institution Register" to "Credit Institution Register".
• The Decision and User Manual were to be sent to the BoS for endorsement via written procedure.

6. Approval of a Task Force on Macroprudential Matters

• A Task Force was established to address macroprudential issues, with its mandate approved by the MB.

7. Review of the European System of Financial Supervision (ESFS)

• The European Parliament was reviewing the ESFS, with reports from Mazars and Oxford Analytica.
• The MB emphasized the need to strengthen EU-level supervision and maintain the non-binding nature of ESRB outputs.
• They supported mutual feedback mechanisms between ESAs and ESRB, and a rebalancing of the ESRB’s governing bodies.

8. Amendment to Reimbursement Policy

• A minor amendment was approved to allow reimbursement of BSG members in the SME category.
• The change was made to align with other ESAs and the Commission, with a minimum additional cost to the EBA budget.

9. Administrative and Operational Status Report

• The MB took note of the status report covering administrative and operational activities since the September 2013 meeting.

10. EBA Office Solution

• The short-term office solution was discussed, with the EBA having provided a notification in July 2013, which was deemed insufficient.
• A long-term office solution was to be identified by the end of January 2014, with a 12-year rental period and a break option after 6 years.
• The MB approved the minimum selection and award criteria for the long-term solution.

11. Banking Stakeholder Composition – Ombudsman Complaint

• The MB noted the European Ombudsman's decision on the composition of the BSG, which was received after the second term of the BSG was appointed.
• The EBA had incorporated the Ombudsman’s recommendations into the selection process.
• Geographical balance among the 28 EU Member States was highlighted as a practical challenge.

12. Annual Accounts Report for 2012

• The MB was provided with the Annual Accounts Report for the financial year 2012 and took note of it.

13. Conflict of Interest Policy

• The MB was informed about the Conflict of Interest Policy, following an audit by the European Court of Auditors.
• The MB agreed to provide written comments on the draft policy and table it for endorsement via written procedure.

14. IT Strategy Update

• The IT Strategy was implemented according to the 2013 schedule, with all projects completed as planned.
• The financial aspects of the IT Strategy were not included in the update, but the Director of Operations confirmed they would be addressed in the December BoS meeting.

Conclusion

The MB meeting concluded with several key approvals and decisions, including the stress test methodology, Q&A process improvements, notifications project, own funds list, task force on macroprudential matters, reimbursement policy amendment, and IT strategy update. The MB emphasized the importance of consistency, transparency, and cooperation with other regulatory bodies such as the ECB and ESRB. The meeting also highlighted the need for resource planning and timely communication with stakeholders.