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3.4. Policy analysis and
3.4.1. Legal and impact assessment
In the context of the EBA’s policy analysis
and coordination activities, the EBA has es-
tablished processes of internal legal analysis
and ‘quality control’ of EBA policy, regulatory
and supervisory products (including technical
standards, guidelines, opinions, supervisory
recommendations, dispute resolution, peer
reviews, etc.). This has been carried out in
two ways: first, by providing legal support and
advice surrounding the legal mandates and
legislative drafting; and second, by providing
guidance on impact assessment methodology
applied in the preparation of these products.
The EBA’s legal work has included: provision
of legal support and advice on mandates, as
well as on procedures, drafting and consulta-
tion matters regarding the development of the
technical standards, guidelines and recom-
mendations; provision of legal advice on an ad
hoc basis, in relation to other supervisory ac-
tions and legal issues arising within the activi-
ties of the EBA; and development of processes
for other parts of the EBA regulation, such as
in relation to possible EBA investigations into
breach of EU law and cases of EBA binding
and non-binding mediation.
Besides the legal work, the EBA’s coordina-
tion activities have also included provision of
guidance and support on impact assessment
methodology. This has aimed at ensuring that
the EBA’s policy decisions are informed by
high-quality objective reasoning, rationale and
evidence, and that the impact assessment in
the preparation of the EBA regulatory prod-
ucts, which includes cost–benefit analysis, is
duly performed. On 5 October 2012, the EBA
hosted the ESAs’ Network on Impact Assess-
ment, comprising impact assessment experts
from the national supervisory authorities. The
network members discussed issues on the
procedure and timeline of conducting impact
assessment studies as well as the potential
contribution of the network to assure the high
quality of EBA’s as well as ESMA’s and EIOPA’s
deliverables. Also the EBA has supported the
coordination of the Impact Study Group, a joint
ECB and EBA group which is responsible for
conducting and presenting the Quantitative
Impact Study of the implementation of CRD IV/
CRR of around 150 EU banks from 18 Member
3.4.2. Peer reviews of national compe-
tent authorities
Another key aspect of the EBA’s work relates
to peer reviews of national competent authori-
ties (NCAs), which the EBA views as important
to further strengthen consistency in super-
visory outcomes; this is also mentioned in
Article 30 of the EBA regulation. These peer
reviews address the adequacy of competent
authorities’ resources, their governance ar-
rangements, the degree of convergence in the
application of European laws and supervisory
practice as well as the identification of possi-
ble best practices.
The peer review work is carried out by the
EBA’s Review Panel, using a peer review
methodology agreed by the EBA’s Board of
Supervisors in June 2012. All NCAs completed
a self-assessment questionnaire in relation
to their adherence to specific aspect of EBA
‘Guidelines on stress testing (CEBS GL32)’
by January 2013. This has been followed up
by the review by peers phase and the Review
Panel plans to develop the final report by mid-
2013. Furthermore, the EBA Board of Supervi-
sors has agreed to conduct a review of EBA
Guidelines GL31 on concentration risk in 2013.