EBA欧洲银行-EBA-BSG-2014-46-28Minutes-BSG-12-May-201429_11页_274kb

EBA Banking Stakeholder Group Meeting Summary – 12 May 2014

Core Content

The EBA Banking Stakeholder Group (BSG) held a meeting on 12 May 2014 in London, from 09:30 to 17:00. The meeting focused on updates on regulatory developments, the EBA’s work on risk assessment, Q&A processes, and consumer protection, as well as discussions on the future of the BSG and its collaboration with the EBA.

Main Points and Key Information

New BSG Members and Departures

• Four BSG members stepped down: Andrew Procter, Marco Mazzucchelli, Dorothee Fuhrmann (credit and investment institutions), and Kay Blair (consumers).
• New members include: Ernst Eichenseher (HypoVereinsbank/UniCredit), John Hollows (KBC Group), Erin Mansfield (Barclays), and Mike Dailly (Govan Law Centre), all representing various stakeholder groups.

Regulatory and Oversight Developments

• The EBA Chairperson provided an update on ongoing regulatory initiatives, including the 2014 EU-wide Stress Test, which aims to assess bank resilience and transparency.
• The EBA is also working on covered bonds, SREP Guidelines, recovery/resolution, and consumer protection issues.
• The EBA’s resources are under strain due to the establishment of the Single Supervisory Mechanism (SSM), and many National Competent Authorities (NCAs) face similar constraints.
• A Strategic Away Day for the EBA Board of Supervisors (BoS) is planned for 10–11 July 2014, with topics including the EBA’s international role and the post-crisis regulatory framework.

Risk Assessment Report (RAR)

• The EBA staff discussed the next RAR, which will cover capital evolution, profitability, deleveraging, market perceptions, funding conditions, asset quality, and emerging risks.
• The 2014 EU-wide Stress Test will include FX-denominated mortgages, and the RAR will also address operational risks from staff downsizing and IT risks, including consumer-related concerns such as data security.

Q&A Process for the Single Rule Book

• The Q&A process is designed to ensure consistent application of EU banking regulations.
• The EBA is developing an interactive Single Rule Book for each legislative text, to be launched in May 2014.
• Concerns were raised about the volume of questions and the need for a more user-friendly tool, with suggestions to involve industry associations.
• EBA staff emphasized that Q&As do not create new legal obligations but harmonize guidance across Member States.

Macroprudential Policy and SREP Guidelines

• The EBA is responding to a Call for Advice from the European Commission on macroprudential rules in the CRR.
• Coordination of macroprudential instruments is needed to ensure consistency with financial stability goals.
• The EBA is working on SREP Guidelines to improve supervisory consistency and quality, with a focus on business model analysis and early intervention measures.

Covered Bonds Report

• The EBA is preparing a report on covered bonds, including a comparative analysis of legal frameworks and best practices.
• Key areas of focus include dual recourse, segregation of assets, valuation criteria, and transparency for investors.
• The report will also address the preferential risk-weight treatment for covered bonds and the eligibility of specific cover assets.

Consumer Protection and Financial Innovation

• The EBA is working on several consumer protection mandates, including the Payments Accounts Directive (PAD) and Payments Services Directive (PSD2).
• Topics include standardised terminology, fee disclosures, and customer authentication.
• The BSG was invited to contribute to the EBA’s work on financial innovation, such as virtual currencies and crowd funding.

BSG Workstreams and Technical Working Groups

• The BSG has submitted 11 responses to EBA consultation papers since October 2013, with three more under preparation.
• The ad hoc Working Group on Proportionality was established, and its work will be considered in a break-out session following the Joint BSG/BoS meeting.
• The BSG was also reminded of the possibility of proposing new ad hoc projects.

Future Meetings and Collaboration

• The BSG was informed of upcoming meetings, including the Joint BSG/BoS meeting on 13 May 2014.
• A meeting between ESA Stakeholder Group Chairs and Vice-Chairs is planned for 3 June 2014, preceding the Joint Consumer Protection Day on 4 June 2014 in London.

Participants

BSG Members

EBA Staff

• Andrea Enria
• Adam Farkas
• Stefan Andresen
• Adrienne Coleton
• Slavka Eley
• Piers Haben
• Dirk Haubrich
• Corinne Kaufman
• Lars Overby
• Mario Quagliariello
• Massimiliano Rimarchi
• Oleg Shmeljov

Conclusion

The meeting underscored the importance of stakeholder collaboration in shaping regulatory frameworks and highlighted the EBA’s ongoing work in areas such as stress testing, covered bonds, consumer protection, and proportionality. The BSG was encouraged to continue providing input and to engage with the EBA on upcoming initiatives, including the PAD and PSD2. The EBA expressed its appreciation for the BSG's contributions and invited further suggestions for its work plan.