15 December 2016

EBA publishes final guidelines on revised Pillar 3 disclosures requirements

Following the release by the Basel Committee on Banking Supervision (BCBS) of a revised version of the Pillar 3 framework (RPF) in January 2015, the European Banking Authority (EBA) published its own initiative Guidelines to ensure the harmonised and timely implementation of the RPF in the EU. These Guidelines while not changing the requirements of the regulatory disclosures defined in Part Eight of the CRR, provide further guidance and support to institutions in complying with both the CRR and the RPF requirements. 

In particular, the Guidelines cover the entire content of the RPF, with the exception of securitisation requirements, which are currently under discussions at EU level following the finalisation of a revised securitisation framework at the international level, and other disclosure requirements in Part Eight of the CRR for which there are already EBA Delegated or Implementing Regulations or guidelines, such as own funds and leverage ratio.

The Guidelines apply to Globally and Other Systemically Important Institutions (G-SIIs and O-SIIs). Competent authorities may still require institutions that are neither G-SIIs nor O-SIIs to apply some or all the guidance provided for in these Guidelines when complying with the requirements in Part Eight of the CRR.

Nonetheless, proportionality is embedded in the different disclosure templates and tables. Therefore, smaller, less sophisticated or less complex institutions are expected to have a lower risk profile and will not be subject to all the disclosure requirements. In addition, the concept of materiality allows institutions to tailor the granularity and the frequency of their disclosures.

The Guidelines apply from 31 December 2017, but G-SIIs are encouraged to comply with a subset of those Guidelines as soon as 31 December 2016.

Press release

Final report

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