On 20 June 2024, the European Banking Authority (EBA) published a final report on the draft Implementing Technical Standards (ITS) which implement the Capital Requirements Regulations III (CRR III) requirements on prudential disclosures. Read below to know more about these standards.
On 20 June 2024, the EBA published a final report (EBA/ITS/2024/05) on: Final Draft Implementing Technical Standards (ITS) on public disclosures by institutions of the information referred to in Titles II and III of Part Eight of the Capital Requirements Regulation (CRR) (EU) No 575/2013.
The draft ITS implement the CRR III requirements on prudential disclosures by including new requirements on output floor, credit risk, market risk, credit valuation adjustment (CVA) risk, operational risk and a transitional disclosure on exposures to cryptoassets. They also aim to provide an integrated set of uniform disclosure formats while promoting market discipline.
The ITS will repeal Commission Implementing Regulation (EU) 2021/637, in order to make the technical standards more user-friendly for institutions. The remaining impacts of CRR III on disclosure requirements that are not necessary for Basel III implementation will be implemented in a second step, in a separate consultation paper, which is expected to be published in the last quarter of 2024.
If you would like to discuss anything raised in this article, feel free to contact our Financial Regulation team.
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