13 June 2014

EBA consults on draft guidelines related to disclosure requirements for the EU banking sector

The Guidelines proposed by the EBA provide a common and flexible framework that promotes consistency and enhances transparency on the assessments of materiality, proprietary or confidential nature of information, as well as the frequency of disclosures. They have been drafted taking into consideration existing national provisions in EU member states, work from other fora and best disclosure practices. The new framework provided will improve market discipline and confidence, while taking into account differences in business models of the various institutions across the EU.

More specifically, the Guidelines cover the process that institutions should follow and the criteria they should consider when they assess the use of any waiver related to materiality or to the proprietary or confidential nature of disclosures, as well as the frequency of their disclosure. The Guidelines also indicate the information that should be provided if such a disclosure waiver is used or if an institution chooses to disclose information required by Part Eight of the CRR more frequently than on annual basis.

The assessment of regulatory disclosures carried out by the EBA since 2009 has in fact shown that the concepts of materiality, proprietary and confidentiality are implemented differently by institutions across the EU. While these differences reflect normal divergences among institutions, meaningful and consistent information across the single market reinforces the confidence of stakeholders and market discipline in the EU banking sector.

Comments to this consultation can be sent to the EBA by 13 September 2014. A public hearing will take place at the EBA premises on 15 July 2014 from 10:30 to 12:30 hours UK time.

Press release

Consultation paper

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