Brussels, 09/04/2015 (Agence Europe) - The European Banking Authority (EBA) believes that a process of the convergence of supervisory practices has been underway in Europe since 2011.
“The fact that the great majority of colleges of cross-border groups have reached smooth joint decisions is a demonstration of this convergence”, the European authority states in its first annual report on the convergence of supervisory practices, which it adopted on Thursday 9 April. However, it notes ongoing “differences” in areas such as the methodologies used, supervisory practices and the measures taken when irregularities are identified. This, in particular, is the case when it comes to translating the results of the stress tests into prudential measures such as the imposition of additional binding own funds or capital buffers. (Mathieu Bion)