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2 0 1 2 a n n u a l r e p o r t
Technical standards relating to colleges of supervisors
Colleges of supervisors
2 technical standards
One each for joint decisions on capital adequacy,
model validation and liquidity
3 technical standards
Information exchange
2 technical standards
Passport notifications
2 technical standards
Development of regulatory and implement-
ing technical standards in the area of home-
host and colleges
In 2012, the EBA put much emphasis on in-
creasing convergence in college practices in
the run up to the development of the binding
technical standards (BTS) for home-host co-
operation and college functioning. The legisla-
tive proposals for the revision of the CRD (CRD
IV/CRR package) mandate the EBA to develop
draft regulatory and implementing technical
standards in the area of home-host coopera-
tion and various aspects of the functioning of
colleges of supervisors. The EBA is currently
drafting nine technical standards relating to
supervisory colleges.
3.3. Consumer protection
The roles and tasks of the EBA related to con-
sumer protection and financial activities are
set out in Article 9 of the regulation establish-
ing the EBA as comprising the following tasks:
(a) collect, analyse and report on consumer
trends in the EU;
(b) review and coordinate financial literacy
and education initiatives;
(c) develop training standards for the indus-
(d) contribute to the development of common
disclosure rules;
(e) monitor existing and new financial activi-
(f) issue warnings if a financial activity poses
a serious threat to the EBA’s objectives;
(g) prohibit or restrain temporarily financial
activities if they pose a threat to the finan-
cial system.
In 2012, the EBA prioritised its efforts on three
of the above tasks: (a) collecting and reporting
on consumer trends; (e) monitoring existing
and new financial activities; and (f) the issu-
ing of a warning. Each of these efforts has re-
sulted in specific outputs, which are described
in detail below.
3.3.1. Key achievements
a. EBA Consumer Trends Report 2012
The EBA worked on its annual report on con-
sumer trends, in fulfilment of the underlying
task provided for in Article 9(1)(a) of the EBA
regulation. The 2012 report, which is due to be
published in March 2013, identifies key issues
in the area of consumer protection and finan-
cial innovation in 2012 and highlights the new
trends and the key areas of concern to the EBA
for 2013.
The report is a sequel to the report that had
been developed in 2011 and that was published
in February 2012. It consists of two parts: a de-
scription of the work done by the EBA, other
EU institutions and Member States to address
the key issues that had been highlighted in the
previous year’s report; and a second part with
a revised set of issues, trends and products for
2013, based on a non-comprehensive survey
of national supervisory authorities conducted
in the second quarter of 2012.
While not claiming to present a comprehen-
sive picture of all relevant risks or potentially
harmful products from a consumer prospec-
tive, the report identifies six main consumer
issues: indebtedness and responsible credit;
transparency and levels of charges; scope of
mis-selling of financial products; issues aris-
ing from specific products such as foreign
currency loans, payment protection insur-
ance and complex products; security of new
technologies used for banking services; and
emerging new forms of liquidity raising.