The European Banking Authority (EBA) published a set of roadmaps outlining its approach and timelines for delivering the mandates stemming from the Risk Reduction Measures Package (aka the Banking Package) adopted by the Council of the EU and the European Parliament on 20 May 2019. The new legislation allocates to the EBA more than 100 new mandates under the amended Capital Requirements Regulation & Directive (CRR II / CRD V) and Bank Recovery and Resolution Directive (BRRD II), which are mainly focused in the areas of governance and remuneration, large exposures, resolution, reporting and disclosure. The roadmaps clarify the sequencing of the mandates and the rationale behind their prioritization and give some policy guidance with preliminary insight into the mandates.
The EBA will contribute to the existing governance framework with the finalisation of the remuneration deliverables. The EBA will complete the large-exposure framework where currently no EBA work exists, namely for determining exposures arising from derivatives. The EBA will consider how to make the Pillar-2 framework fit for purpose, e.g., strengthening proportionality. The anti-money laundering (AML), counter-terrorist financing (CTF), and sustainable finance dimensions will be clarified together with Pillar-2 capital add-ons. The EBA aims to facilitate effective resolution planning and preparedness with its work on calibration and monitoring of the minimum requirements for own funds and eligible liabilities (MREL). The EBA aims at an efficient reporting framework with enhanced proportionality. Finally, with its work on disclosure, the EBA aims to become the EU-wide Pillar-3 hub following the completion of the EUCLID project.