The European Banking Authority (EBA) launched a public consultation (to run until 16 January 2020) on the new comprehensive implementing technical standards (ITS) for financial institutions' public disclosure. It improves the EBA Pillar-3 policy framework by moving from a silo-based approach, with different disclosure policy products, to an all-inclusive ITS and implements regulatory changes introduced by the amended Capital Requirements Regulation (CRR2) (Article 434a) in alignment with the disclosure framework of the revised Basel Pillar-3 standards. The disclosure ITS have been developed to align with supervisory reporting, and a mapping between quantitative disclosure data and reporting is provided.
This consultation paper (CP) is the first deliverable of the EBA roadmap on institutions' Pillar-3 disclosures, which will be published in Q4 2019 and will provide an overview of the EBA Pillar-3 strategy, deliverables and timeline for the implementation of all the disclosure requirements included in the CRR2 and the amended Bank Recovery and Resolution Directive (BRRD2), including environmental, social and governance (ESG) risks and climate-change related information, as well as the disclosure requirements for investment firms under the Investment Firms Regulation (IFR). The EBA expects to submit the revised draft ITS to the European Commission in June 2020 so that the disclosure requirements will be applicable from June 2021.