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International engagement
The EBA actively participates in meetings if
the Basel Committee on Banking Supervision
(BCBS). In 2016, the BCBS established a Task
Force on Regulatory Consolidation to mitigate
potential spillover effects from the shadow
banking system to banks. The EBA is also de-
veloping RTS on methods for prudential con-
solidation (Article 18 of the CRR), which inter-
act at times with the BCBS’s work.
The EBA is also a member of the Financial Sta-
bility Board’s (FSB) Resolution Steering Group
(ResG), the Cross-Border Crisis Management
Group (CBCM) and several work streams
where it actively contributes to the develop-
ment of the regulatory policy in resolution
matters. The EBA’s areas of particular focus
are bail-in execution, internal TLAC, liquidity
in resolution, continuity of access to financial
market infrastructures, and effectiveness of
cross-border resolution. The EBA participates
in the ESRB’s Joint Expert Group on Shadow
Banking (co-chaired by ESMA) and the ESRB’s
Joint Expert Group on Investment Funds.
In parallel, the EBA is actively involved in the
area of enhancement of central counterparty
(CCP) resilience, recovery and resolution. The
EBA’s work in the area of CCP resolution in 2016
focused primarily on policy contributions to in-
ternational regulatory fora working on the topic.
The EBA initiated negotiations with the
aim of concluding Framework Cooperation
Arrangements with key
authorities of non-
EU jurisdictions
that have resolution regimes
comparable to the BRRD, and which either are
major financial centres or have substantial
activities of EU banks. The EBA has also been
engaging actively in international fora and
cooperate with the World Bank, in particular
its Financial Sector Advisory Center (FinSAC)
on a range of policy issues relating to recovery
and resolution.
Working on cross-sectoral issues
In 2016, the
Joint Committee of the European
Supervisory Authorities (ESAs)
continued to
provide a forum for cross-sectoral coordina-
tion and exchange of information across the
three ESAs. Under the chairmanship of EIOPA,
the Joint Committee focused in particular on
consumer protection and cross-sectoral risk
assessments. In order to increase the vis-
ibility of the Joint Committee, a new website
was set up where deliverables about the Joint
Committee are centrally published. To further
promote the work of the Joint Committee and
to celebrate its fifth anniversary, a booklet (
To-
wards European Supervisory Convergence
) was
also published highlighting the Joint Commit-
tee’s mission, objectives and tasks, as well as
its strategic outlook.