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Overall, the peer review concluded that the majority of the authorities are compliant with the European Banking Authority (EBA) Guidelines, although some of its requirements have not been fully applied in all jurisdictions.
This peer review observed that those jurisdictions, which expressed their intention to comply with these Guidelines are generally compliant. However, the EBA observed some deviating practices in several Member States, which could potentially hamper harmonisation in the Single Market. Therefore, the EBA recommends that such deviations be corrected as soon as possible.
The peer review also identified a number of best practices and highlighted the different approaches on how to maintain the O-SIIs identification methodology up-to-date and meet disclosure requirements.
Finally, the peer review highlighted that notification and disclosure obligations would benefit from greater harmonisation, as well as the process to calibrate and implement the O-SII buffer, potentially in close cooperation with other EU authorities such as the ESRB.