EBA consults on ITS for Basel III operational risk reforms

Posted on March 3, 2024 by Editor

The European Banking Authority (EBA) has launched a public consultation on draft Implementing Technical Standards (ITS) in support of updated Pillar 3 disclosures and supervisory reporting requirements for operational risk. The new ITS accompany the revised operational risk framework and are part of the broader implementation of Basel III reforms in the EU banking sector.

The proposed changes will introduce new data points to enable supervisors and stakeholders to monitor institutions’ compliance with the Basel III framework for operational risk. By aligning disclosure requirements with Basel III standards and integrating them with reporting, EBA aims to enhance comparability and consistency of information, fostering more robust supervision.

This consultation follows previous papers released on Pillar 3 and supervisory reporting in December last year, as part of the EU Banking Package implementation roadmap.

EBA’s objective is to consolidate reporting and disclosure requirements for operational risk and broader Pillar 3 disclosures in one document, providing clarity for banks through this transition.

These consultations are integral to phase 1 of the package’s implementation, which includes updates to reporting and disclosure requirements for various risk categories.

Stakeholders are encouraged to comment before 30 April 2024

Read more and find out how to reply here.

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