EBA consults on ITS amending Implementing Regulation (EU) No 680/2014 with regard to operational risk and sovereign exposures

November 14, 2016

The European Banking Authority (EBA) published today a consultation paper on the revised Implementing Technical Standards (ITS) on supervisory reporting. The consultation addresses the new reporting obligations for operational risk data and sovereign exposures information that will be required for March 2018 reporting.

The proposed draft ITS aims to address several shortcomings in the current method of information gathering of sovereign exposures. These shortcomings have led to ad-hoc data collections by competent authorities which the new ITS aims to prevent.

The new proposal also aims to address the increased costs arising from operational risk events which have caused a significant impact on profits. The changes will give supervisors more information to better monitor losses due to operational risk and to understand better the key drivers triggering such losses.

Comments to this consultation can be sent to the EBA by clicking on the “send your comments” button on the consultation page. The deadline for the submission of comments is 7 January 2017.

The original press release can be found here on the EBA website.