EBA欧洲银行-EBA-BS-2012-207-FinalBoS-minutes-25-26-September-2012PUBLIC_14页_340kb

Summary of EBA BoS Meeting Minutes, 25-26 September 2012

Core Content

The meeting of the European Banking Authority (EBA) Board of Supervisors (BoS) on 25-26 September 2012 covered a range of topics, including the approval of the 2013 Work Programme, the Crisis Management Manual, IT Strategy, and the transition to CRDIV/CRR. It also addressed the recapitalisation exercise, stress test preparations, Basel III monitoring, and the role of the EBA in the context of the European Banking Union (BU).

Main Agenda Items and Key Points

1. Approval of the 2013 Work Programme (WP)

• The 2013 WP was approved and will be transmitted to EU Institutions.
• It was noted that the WP must be reassessed in light of new legislative proposals, including Banking Union, CRDIV/CRR, and Recovery and Resolution frameworks.
• The EBA was advised to improve prioritisation of tasks, as all EC-imposed deadlines were marked as Priority 1.
• The WP will be revised in December 2012 if EC proposals become clearer.

2. EBA Crisis Management Manual – the Code of Conduct

• A Task Force was formed to develop the Crisis Management Manual.
• The manual was approved with one member voting against.
• The manual will be used internally and will be amended based on BoS member comments.
• The Code of Conduct was acknowledged as non-legally binding but essential for working practices during crises.

3. Election of Mediation Panel Members and Alternates

• Mr. Andrzej Reich and Mr. David Rozumek were elected as Members of the Mediation Panel for 3 and 2 years respectively.
• Mr. Andrew Bailey was elected as an Alternate for 3 years.
• The election was in accordance with the Rules of Procedure of the Mediation Panel.

4. Consumer Protection

• The BoS supported the development of guidelines on responsible lending based on FSB Principles.
• The EBA should focus on shaping the work plan and promoting an "umbrella of good practices" across Member States.
• The BoS agreed to proceed with the development of guidelines on CFDs, with close cooperation with ESMA.
• The EBA was asked to prepare a thematic review on the distribution of risky capital and funding instruments to retail customers.

5. Q&A Process for the CRD/CRR

• The Q&A process was seen as important for the development of the Single Rule Book.
• The BoS requested further clarification on the involvement of the Commission, the need for a working group, and the distinction between legal and practical questions.
• A small working group was proposed to assist with prioritisation and coordination of responses.
• The process was agreed to be closed by December 2012 at the latest.

6. Adoption of BTS on Capital Requirement for CCPs

• The final draft Regulatory Technical Standards (RTS) on capital requirements for central counterparties (CCPs) and the EBA Opinion were adopted with amendments.
• Key amendments included clarifications on the treatment of default fund contributions and trade exposures with other CCPs, ensuring consistency with Basel III and EMIR requirements.
• The EBA opinion was published on its website and sent to the European Commission.

7. IT Strategy

• The BoS was requested to delegate the execution of the IT Strategy to the Management Board (MB), with semi-annual progress reports.
• Concerns were raised about the ambitious nature of the strategy, limited time, and internal resources.
• Five members disagreed with the IT Strategy and some raised concerns about the budget.

8. Public Statement on Consultation Practices and Technical Standards

• The BoS endorsed two decisions on consultation practices and the process for adopting technical standards, guidelines, and recommendations.
• The use of ad hoc technical discussions was preferred over permanent industry groups for flexibility.

9. Risks and Vulnerabilities

• The EBA risk dashboard was supported by the BoS.
• Main risks identified included funding, asset quality, and market fragmentation.
• The EBA was advised to explore the activation of its power on Breach of Law to mitigate market fragmentation.
• The BoS agreed to publish templates A, B, and C1/C2, but not D1/D2 and E1/E2.

10. Transition to CRDIV/CRR

• The CT1 ratio from the EBA December 2011 Recommendation will be replaced by a capital conservation recommendation based on June 2012 RWAs.
• The EBA will monitor capital plans alongside national supervisors in the context of colleges.
• A workshop on the transition will be held in December 2012.

11. Preparation for 2013 Stress Test and Asset Quality Review (AQR)

• The BoS supported the stress test preparation but no final decision was made on the AQR.
• Two options for AQR development were discussed, but further discussions with national experts and the ECB were requested.
• Most members supported maintaining static balance sheets for the 2013 stress test with a timeline from June 2012 to June 2014.

12. Results from Basel III Monitoring Exercise

• The BoS endorsed the reports on Basel III monitoring and the evolution of CRD capital requirements.
• It was agreed to publish the results and request the ISG to prepare for semi-annual Basel III monitoring reports.

13. Reports from Committees

• The reports from various committees were noted by the Board.

14. Oral Update on EBA Premises

• The EBA achieved long-term savings and expanded office space in the existing building.
• The BoS will be kept informed of any further developments.

Key Participants

• Chairperson: Andrea Enria

• Participants:

  • Austria: Helmut Ettl (Voting Member), Andreas Ittner (Representative NCB)
  • Belgium: Mathias Dewatripont (Voting Member)
  • Bulgaria: Nelly Kordovska (Voting Member)
  • Cyprus: Argyro Procopiou (Voting Member)
  • Czech Republic: David Rozumek (Voting Member), Zdenka Faulhamerova (Representative NCB)
  • Denmark: Jesper Meyer (Voting Member), Maria Sinding Asen (Representative NCB)
  • Estonia: Raul Malmstein (Voting Member), Timo Kosenko (Representative NCB)
  • Finland: Anneli Tuominen (Voting Member), Kimmo Virolainen (Representative NCB)
  • France: Frederic Visnovsky (Voting Member), Philippe Richard (Representative NCB)
  • Germany: Raimund Roseler (Voting Member), Klaus Dullmann (Representative NCB)
  • Greece: Kyriaki Flesioulou (Voting Member)
  • Hungary: Károly Szász (Voting Member), Laszlo Seregdi (Representative NCB), Marton Nagy (Alternate)
  • Ireland: Matthew Elderfield (Voting Member), Mary Burke (Representative NCB), Sharon Donnery (Alternate)
  • Italy: Giovanni Carosio (Voting Member), Giuseppe Siani (Representative NCB)
  • Latvia: Kristaps Zakulis (Voting Member)
  • Lithuania: Aldona Jociene (Alternate)
  • Luxembourg: Claude Simon (Voting Member), Norbert Goffinet (Alternate)
  • Malta: Andre Camilleri (Voting Member), Alexander Borg (Alternate)
  • Netherlands: Mascha Van der Marel/Tom van Veen (Representative NCB)
  • Poland: Andrzej Reich (Voting Member), Izabella Szaniawska/Maciej Brzozowski (Alternate)
  • Portugal: Pedro Duarte Neves (Voting Member), Adelaide Cavaleiro (Representative NCB)
  • Spain: Fernando Vargas (Voting Member), Cristina Iglesias-Sarria (Representative NCB)
  • Sweden: Martin Andersson (Voting Member), Olof Sandstedt (Alternate)
  • UK: Andrew Bailey (Voting Member), Paul Sharma (Representative NCB), Fiona Mann/Venetia Wingfield (Alternate)

• Observers:

  • Norway: Per Jostein Brekke/Arild Lund
  • Iceland: Luovik Porgeirsson
  • Lichtenstein: Rolf Bruggemann
  • Croatia: Damir Odak

• Institutions:

  • European Commission: Nadia Calvino/Dominique Thienpont
  • European Central Bank: Panagiotis Strouzas
  • ESRB: Francesco Mazzaferro/Silvia Pezzini
  • EIOPA: Carlos Montalvo
  • ESMA: Verena Ross

• EBA Staff:

  • Executive Director: Adam Farkas
  • Director Oversight: Piers Haben
  • Director Regulation: Isabelle Vaillant
  • Policy Analysis & Coordination: Corinne Kaufman
  • Legal: Joseph Mifsud, Patricia Juanes Burgos