Statuses

EBA publishes criteria to assess other systemically important institutions (O-SIIs)

In Unclassified on 16/02/2015 by Financial Services Commission

“The European Banking Authority (EBA) issued today its final Guidelines defining the criteria that EU competent authorities will use to identify institutions that are systemically important either at Union or Member State level, the so-called ‘other systemically important institutions’ (O-SIIs). These Guidelines aim at setting uniform parameters at EU level while taking into account specificities of Member States’ individual banking sectors, so as to achieve an appropriate degree of convergence in the identification process as well as at ensuring a comparable, clear and transparent assessment of systemically important institutions in the EU.”

http://www.eba.europa.eu/-/eba-publishes-criteria-to-assess-other-systemically-important-institutions-o-siis-

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Statuses

EBA publishes technical standards and guidelines on resolution planning

In Unclassified on 16/02/2015 by Financial Services Commission

The EBA published today final draft Regulatory Technical Standards (RTS) on resolution planning and final Guidelines on measures to reduce or remove impediments to resolvability. These are part of the EBA’s work to promote a consistent and coherent approach to bank resolution across the European Union (EU) and specify contents of resolution plans for EU institutions, as well as the criteria for the resolvability assessment. Common EU standards in these areas are essential to facilitate effective cooperation and joint decisions between resolution authorities.

http://www.eba.europa.eu/-/eba-publishes-technical-standards-and-guidelines-on-resolution-planning

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Statuses

EBA issues guidelines to strengthen requirements for the security of internet payments across the EU

In Unclassified on 16/02/2015 by Financial Services Commission

The European Banking Authority (EBA) published today its final Guidelines on the security of internet payments, which set the minimum security requirements that Payment Services Providers in the EU will be expected to implement by 1 August 2015. Concerned about the increase in frauds related to internet payments, the EBA decided that the implementation of a more secure framework for internet payments across the EU was needed. These Guidelines are based on the technical work carried out by the European Forum on the Security of Retail Payments (SecuRe Pay).

http://www.eba.europa.eu/-/eba-issues-guidelines-to-strengthen-requirements-for-the-security-of-internet-payments-across-the-eu

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Statuses

EBA publishes final Guidelines on SREP methodologies and processes

In Unclassified on 16/02/2015 by Financial Services Commission

“The European Banking Authority (EBA) published today its final Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP). These Guidelines represent a major step forward in forging a consistent supervisory culture across the Single Market and provide a common framework for the work of supervisors in the assessment of risks to banks’ business models, their solvency and liquidity. These Guidelines will be a key component of the EU Single Rulebook, which aims at improving the functioning of the internal market, including a sound, effective and consistent level of regulation and supervision in the banking sector.”

http://www.eba.europa.eu/-/eba-publishes-final-guidelines-on-srep-methodologies-and-processes

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Statuses

The Joint Committee of the ESAs publishes final Guidelines on consistency of supervisory practices for financial conglomerates

In Unclassified on 16/02/2015 by Financial Services Commission

“The Joint Committee of the three European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA) published today the Joint Guidelines on the convergence of practices aimed at ensuring consistency of supervisory coordination arrangements for financial conglomerates. The first Guidelines developed jointly by the three ESAs in relation to the FICOD (Financial Conglomerates Directive) aim to clarify and enhance cooperation between national competent authorities on cross-border groups that have been identified as financial conglomerates.”

http://www.eba.europa.eu/-/the-joint-committee-of-the-esas-publishes-final-guidelines-on-consistency-of-supervisory-practices-for-financial-conglomerates

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Statuses

EBA publishes final Guidelines on disclosure requirements for the EU banking sector

In Unclassified on 16/02/2015 by Financial Services Commission

“The European Banking Authority (EBA) published today three sets of final Guidelines related to the information that institutions in the EU banking sector should disclose under Pillar 3. These Guidelines, condensed into a single document, cover how institutions should apply the concepts of materiality, proprietary nature and confidentiality in relation to the disclosure requirements, as well as how they should assess the frequency of disclosures. These Guidelines aim at enhancing consistency in disclosure practices across the EU and are part of the EBA’s work to ensure transparency in the EU banking sector.”

http://www.eba.europa.eu/-/eba-publishes-final-guidelines-on-disclosure-requirements-for-the-eu-banking-sector

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Statuses

EIOPA report on good practices on comparison websites

In Unclassified on 05/02/2014 by Financial Services Commission

EIOPA has published a report summarising its findings in relation to good practices on comparison websites. EIOPA is aiming to promote transparency, simplicity and fairness for internet users in the market for online comparisons of insurance products. However, the report does not include any guidelines or recommendations.

The good practices outlined in the report concern primarily the activities of commercial comparison websites, but non-commercial websites’ operators are equally encouraged to check whether their procedures are in accordance with the good practices set out in this report, and to adapt them accordingly.

The good practices outlined in this report concern the following areas:

  • information about the website;
  • market coverage;
  • dealing with potential conflicts of interest;
  • criteria used to make the ranking;
  • presentation of information; and
  • frequency of updating the information.

A copy of the report is available.

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