BRUSSELS, 18 December 2017 – ESBG submitted last week a response to the EBA's consultation on the provision of information for the purpose of resolution plans under Article 11(3) of the bank recovery and resolution directive (BRRD). In its position paper, ESBG, in principle, welcomes the EBA's contribution to standardise the existing inquiry standards/templates and the effort to streamline the process and to establish the minimum set of reporting obligations as well as to specify procedural and technical reporting requirements.
However, one should also bear in mind that the technical implementation of regulatory reporting requirements triggers complex project activity and needs adequate lead time. For ESBG members, it is especially important to get planning on security regarding the requirements and concrete reporting templates. ESBG will closely follow the outcome of this consultation, and track whether there was any take up by the EBA of the suggestions ESBG made on the specific reporting templates.
>> Read: ESBG consultation
>> Off-site: Bank recovery and resolution directive (BRRD)