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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

6

Providing the European Commission with

technical advice

During 2014, the EBA significantly contributed

to global and EU policy-making on securitisa-

tion with the publication of an opinion, a dis-

cussion paper and guidelines.

The development of a sound and prudent se-

curitisation market is a building block for the

Capital Markets Union. This will promote fur-

ther integration of EU financial markets, help

diversify funding sources to banks and unlock

capital, which in turns enhances risk-shar-

ing and makes it easier for banks to lend to

households and businesses. During 2015, the

EBA will provide technical advice to the Euro-

pean Commission on the creation of simple,

standard and transparent products within the

securitisation market.

The EBA published a detailed report on the

European covered bonds frameworks, iden-

tifying a series of best practices to ensure a

robust and consistent regulatory framework.

In 2014, the European Commission requested

the EBA to provide technical advice on dele-

gated legislation stemming from the CRR and

CRD, as well as from the BRRD.

Contributing to a sounder remuneration

framework

The legislative changes introduced by the CRD

to strengthen remuneration practices in insti-

tutions across the EU became effective on 1

January 2014. In the course of the year, the EBA

developed a set of draft RTS to help identify cat-

egories of staff who have a material impact on

an institution’s risk profile and produced other

standards on different aspects of remuneration

policy. The EBA also published its annual report

on the aggregated figures for high earners in

the banking sector between 2010 and 2012, and

in 2015 the EBA will publish a remuneration

benchmarking report.

The processes behind developing the Single

Rulebook

The EBA consults all its stakeholders on a

regular basis to ensure that their views and

concerns are taken into account in the EU pol-

icy making process. Behind the EBA’s work on

the Single Rulebook is a considerable amount

of consultation and support activity. This has

included the development of a Q&A process,

impact assessment work, legal support in

drafting technical standards, guidelines and

recommendations, the correct application of

Union law, compliance against global stand-

ards, involvement of stakeholders and coor-

dination of information activities to correctly

inform them.

Single Rulebook Q&A process

To facilitate the implementation of the CRD IV/

CRR, the EBA launched a Q&A tool that offers

a one-stop interface for national supervisory

authorities, institutions and their associations,

as well as other stakeholders, to submit ques-

tions regarding the practical application and

consistent implementation of EU regulation in

the EU banking sector.

Impact assessment

The EBA applies the principle of better regu-

lation when carrying out its tasks, including

in its efforts to develop the Single Rulebook,

and performs impact assessment to support

the EBA’s development of regulatory policy. In

2014, the EBA continued to perform a cost and

benefits analysis of its technical standards,

guidelines and recommendations, as well as

of policy options included therein. Further-

more, the EBA published two dedicated re-

ports monitoring the impact of the transpo-

sition of the Basel III requirements in the EU

— in March for data up until June 2013, and in

September for data up until December 2013.

In addition, the EBA conducted an impact as-

sessment of Liquidity Coverage Ratio (LCR)

requirements in the EU in 2014 and published

the results of the analysis in January 2015.