04 January 2012

EBA: Work Programme 2012

In line with the regulation establishing the European Banking Authority, the annual work programme describes and summarises the main objectives and deliverables of the EBA in the forthcoming year, derived from the tasks specified in the regulation and from the relevant EU banking sector legislation.

The work programme identifies four areas of EBA’s activities and aims to define the main objectives and corresponding priorities for 2012. The first three areas, Regulation, Oversight and Consumer Protection, are representing the core functions of the EBA that are laid down by the EBA regulation. The support functions summarised as Operations are playing a critical role in ensuring that the EBA can perform its core functions, and thus their main working objectives are also summarised.

The main objective of the EBA in the regulatory policy area is to play a leading role in the creation of the single rule book for the EU banking system. Based upon the current CRD IV/CRR proposals, to be adopted in the course of 2012, about 200 deliverables will be expected from the EBA.

The main two objectives of the EBA’s regulatory oversight activities in 2012 are:

1. to deliver independent and high quality analysis of EU banks and the EU banking sector; and
2. to promote supervisory convergence and assist National Supervisory Authorities to ensure that colleges are run consistently and efficiently with substantive discussions leading to material decisions being taken which strengthen the resilience of EU cross border banks and prepare them better for crises.

The main tasks of the EBA’s Consumer Protection work will be the collection, analysis and reporting on consumer trends; the review and coordination process of financial literacy and education initiatives by the competent authorities; the development of training standards and common disclosure rules for the industry; monitoring new and existing financial activities and where appropriate preparing guidelines and recommendations with a view to promoting the safety and soundness of markets and convergence of regulatory practice.

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