EBA includes Bank of Albania in EU supervisory colleges
11 September 2015
The European Banking Authority added the Albanian banking supervisor to the list of non-EU or third country supervisory authorities participating in EU banking supervisory colleges. The decision was based on the assessment of the confidentiality regime of Bank of Albania.
The EBA informs that it has included the Bank of Albania as a national supervisory authority in the list of non-EU authorities whose confidentiality regime can be considered equivalent to the one prescribed in the EU by the Capital Requirements Directive (CRDIV).
This equivalence is the condition for non-EU authorities, like the Bank of Albania, to take part in the work of EU colleges of supervisors, the coordination structures that bring together EU regulatory authorities involved in the supervision of a banking group that operate in more than one country in Europe.
The equivalence of confidentiality regimes between EU and non-EU authorities is the fundamental condition to ensure secure and smooth information flows within supervisory colleges.
Like for all other non-EU authorities included in the list, the assessment of Bank of Albania was in line with Article 116 (6) CRDIV on criteria related to the treatment of confidential information, the requirements for professional secrecy, as well as restrictions on the use and disclosure of confidential information. Ensuring this type of convergence overcomes inconsistencies in supervisory approaches, an aspect that could otherwise hamper the efficient functioning of EU colleges of banking supervisors.
© EBA
