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Harmonised definitions are crucial in addressing questions over the correct valuation of assets in banks ‘balance sheets, in particular, the extent of forbearance and the accurate assessment of non performing exposures. These consistent EU wide definitions are a key step in the early identification of risks to the financial stability at EU level and will facilitate further actions, such as asset quality assessments.
These definitions will be used for supervisory reporting purposes and complement, but not supersede, existing definitions.
The proposed definitions and templates, once implemented, will allow European supervisors to:
These templates will complement the Implementing Technical Standards (ITS) on supervisory reporting, currently being developed by the EBA in the context of the Capital Requirements Regulation (CRR).
The EBA expects to finalise these additional standards by Q3 2013. Comments can be sent to the EBA by 24 June, 2013.