On Thursday 5 October, the European Banking Authority (EBA) published its programme of work for 2018, identifying its priorities, together with a multi-annual programme of work for 2018-2021, aiming to bring its supervisory duties into line with developments in the European banking landscape.
Up to 2021, the EBA hopes to reinforce its analytical function, deepen its political role in matters of financial innovation and improve the convergence of supervisory and resolution practices. To do this, it has announced that it will develop new tools and revise the existing ones, for instance the bank stress tests.
For 2018, the authority has set very clear priorities. In particular, it intends to: - feed into the developments of European banking prudential rules (CRR-CRD legislative package and BRRD directive); - monitor the consistent application of the single rulebook and its impact on banks; - contribute to the European Council's action plan to tackle non-performing loans in Europe (see EUROPE 11827); - contribute to the regulatory and prudential framework and to risk assessment in the field of FinTech; - become a data centre for European banks by implementing its data analysis infrastructure project; - assess the impact of Brexit to ensure the stability and effectiveness of the European financial system.
The EBA will also continue its work in the fields of payment services and consumer protection, focusing on the convergence of supervisory practices, the monitoring of its guidelines on supervision and product governance as well as the transitional period of the 'Payment Services' directive (PSD2).
The programme also states that the forthcoming withdrawal of the United Kingdom from the European Union will affect its activities and that it cannot therefore be ruled out that the working programme will be amended accordingly. The document is available at: http://bit.ly/2wzSqB6. (Original version in French by Marion Fontana)