Page 112 - EBA 2015.1815 Annual report 2014 web 2

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E U R O P E A N B A N K I N G A U T H O R I T Y
110
Regulatory compliance
of guidelines and
recommendations
According to Article 16(4) of EBA Regulation,
this section provides an overview of compe-
tent authorities which have not complied with
guidelines and recommendations issued by
the EBA. In 2014, EBA issued 14 guidelines
and 1 recommendation. For 5 guidelines, the
period for notification of compliance was still
ongoing as of 31 December 2014 (any pos-
sible non-compliance will be reported in the
next EBA Annual Report). The EBA intends
to report periodically to the BoS on compe-
tent authorities that have failed to provide the
notification of compliance with the guidelines
and recommendations issues by EBA, in view
of enhancing the process of compliance. To
further strengthen consistency of supervisory
practices of competent authorities, the EBA
may conduct peer reviews, in line with Article
30 of EBA Regulation. The results of a peer
review can lead to issuing changes to existing
guidelines and recommendations, to identify-
ing best practices which might be of benefit
for other competent authorities to adopt, to
informing technical standards under develop-
ment, and/or can result in the EBA providing an
opinion to the EU Institutions, as appropriate.
EBA/GL/2014/01 — Guidelines on the Applicable Notional Discount Rate for Variable Remuneration (published on 27 March 2014)
Disclosure requirements in Regulation (EU) 575/2013 (the CRR)
The following competent authorities do not comply with the guide-
lines, due to their decision not to apply the national discretion for
using the discount rate:
Greece
- Τράπεζα της Ελλάδος
(Bank of Greece)
Croatia (National Bank of Croatia)
Denmark - Finanstilsynet (Danish Financial Supervisory Authority)
Estonia - Finantsinspektsioon (Financial Supervision Authority)
Finland - Finanssivalvonta (Finnish Financial Supervisory Authority)
Italy - Banca d’Italia (Bank of Italy)
Latvia - Finanšu un Kapitāla tirgus Komisija (Financial and Capital
Market Commission)
Slovakia - Národná Banka Slovenska (National Bank of Slovakia)
Sweden - Finansinspektionen (Swedish Financial Supervisory
Authority
Iceland - Fjármálaeftirlitið (Icelandic Financial Supervisory Authority)
EBA/GL/2014/02 — Guidelines on Global Systemically Important Institutions — G-SII (published on 5 June 2014)
The following competent authorities failed to provide the
notification of compliance:
Cyprus -
Κεντρική Τράπεζα της Κύπρου
(Central Bank of Cyprus)
Finland - Finanssivalvonta (Finnish Financial Supervisory Authority)
Gibraltar - Financial Services Commission (Gibraltar)
Hungary - Magyar Nemzeti Bank (National Bank of Hungary)
Iceland - Fjármálaeftirlitið (Icelandic Financial Supervisory Authority)
Italy - Banca d’Italia (Bank of Italy)
Lithuania - Lietuvos Bankas (Bank of Lithuania)
Malta (Malta Financial Services Authority)
Norway - Finanstilsynet (Norwegian Financial Supervisory Authority
Slovakia - Národná Banka Slovenska (National Bank of Slovakia)
Figure 31: Regulatory compliance of guidelines and recommendation