EBA Publishes Final Amending ITS on Supervisory Disclosures Under CRD

EBA Publishes Final Amending ITS on Supervisory Disclosures Under CRD

By Prathamesh 21 July, 2023
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The European Banking Authority (EBA) has released its final draft of amending Implementing Technical Standards (ITS) on supervisory disclosures. These standards define the format, structure, contents list, and annual publication date for the disclosure of supervisory information by competent authorities. The amendments in this draft ITS reflect the changes introduced in the EU legal framework, specifically concerning supervisory reporting and investment firms.

The aim of the draft amending ITS is to provide clear specifications for the disclosure of supervisory information information in the EU, aligning with the legislation adopted under Directive (EU) 2019/878 (CRD V) and Regulation (EU) 2019/876 (CRR2), which form part of the banking package, collected via the derived XBRL taxonomy.

The amended ITS also aim to enhance the quality and comparability of reported data by supervisors, offering the market more useful, clear information.

These ITS on supervisory disclosures are developed under Article 143 of the Capital Requirements Directive (CRD), empowering the EBA to specify the format, structure, contents list, and annual publication date for the information that competent authorities must publish. This information covers rules and guidance, options and discretions, general criteria and methodologies for the Supervisory Review and Evaluation Process (SREP), as well as aggregate statistical data on key aspects of prudential framework implementation.

To find out more details please visit : https://www.xbrl.org/