EBA publishes Pillar 3 and Supervisory Reporting ITSs
The European Banking Authority recently published its final draft Implementing Technical Standards (ITS) on Pillar 3 disclosures and supervisory reporting.
This is a step forward for enhanced and comparable public disclosures, and should help keep reporting requirements in line with the evolving needs of supervisors.
This forms part of the changes implemented by the revised Capital Requirements Regulation (CRR2) and the Prudential Backstop Regulation.
The disclosure ITS optimises the Pillar 3 policy framework for credit institutions, unifying all previous pieces of regulation and disclosures into one package that should improve clarity for users and facilitate implementation for institutions. The ITSs are designed to ensure users have sufficient and comparable information on institutional risk.
The reporting ITS includes new reporting requirements and changes to certain areas of reporting.
Corresponding DPM, validation rules and the XBRL taxonomy are expected by the end of summer 2020.
Read more here.
