EBA consults on new RTS and ITS on supervisory colleges

EBA started a public consultation on draft RTS and ITS concerning the functioning of supervisory colleges under CRD.
The proposed technical standards aim to enhance the alignment between Level 1 regulation and the Level 2 framework for supervisory colleges, promoting more efficient and effective supervision of cross-border banking groups.
The updates to the RTS and ITS are primarily based on the requirements outlined in CRD V and CRR 2, as well as the insights gained from the EBA’s ongoing monitoring activities on supervisory colleges. The key areas addressed in the updates include improved information exchange within the college and with observers during both normal and emergency situations, effective identification of emerging risks following adverse impacts on a group’s risk profile, and the appropriate use of task entrustment and delegation to facilitate efficient supervision of cross-border banking groups.
EBA plans to submit the draft technical standards to the European Commission in the fourth quarter of 2023. Once the new standards are issued, the existing RTS and ITS on colleges of supervisors issued by the EC in 2016 will be repealed.
EBA will be hosting a public hearing, which will take the form of a webinar, on 28 June 2023. The webinar is scheduled to run from 13:00 to 14:00 CET. EBA invites all interested stakeholders to register for the event by 26 June 2023 using this link.
Interested stakeholders can provide comments on the consultation by accessing the consultation page on the EBA’s website until 30 August 2023. EBA will publish all received contributions, unless otherwise requested.