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The year of 2013 will be the third year of operation for the EBA as a fully-fledged EU Authority in the new European System of Financial Supervision (ESFS). Therefore, emphasis will remain on the development and strengthening of the EBA’s institutional capabilities.
In addition, it should be noted that new legislative proposals, currently being discussed or expected to be published in the coming months, including the Banking Union and the Recovery and Resolution proposals, may have a significant impact on the EBA’s tasks and priorities in 2013 and thereafter. For these reasons, the EBA may, if need be, revise and adjust its annual work programme.
The fundamental objective for the EBA in the regulatory policy area will be to play a central role in the development of the single rule book, with the aim to contribute to achievement of a level playing field for financial institutions as well as to raise the quality of financial regulation and the overall functioning of the Single Market. The EBA’s work in this area relates in particular to the CRDIV/CRR legislative framework, including liquidity and remuneration, as well as to the crisis recovery and resolution legislative framework.
The EBA’s oversight activities will focus on identifying, analysing and addressing key risks in the EU banking sector, including analysing the consistency of outcomes in risk weighted assets (RWAs), the sustainability of banks business models and reviews of banks’ asset quality, promoting supervisory cooperation and convergence and continuing its work in colleges of supervisors to strengthen European supervision of cross-border banking groups.
Last but not least, the EBA is committed to enhancing the consumer protection and promote transparency, simplicity and fairness for consumer financial products and services across the Single Market, and as such will focus its consumer protection activities on developing guidelines on responsible mortgage lending, and on arrears handling and forbearance in the mortgage market, and regulatory technical standards on Professional Indemnity Insurance.