EBA publishes update on its equivalence monitoring activities

The European Banking Authority (EBA) has updated its confidential report on equivalence monitoring activities and submitted it to the European Parliament, the Council, the European Commission, and other European Supervisory Authorities (ESAs). To improve transparency, the EBA also published a public summary outlining recent regulatory and supervisory developments in 26 non-EU jurisdictions deemed equivalent under the Capital Requirements Regulation (CRR).

The report provides factual information on regulatory and supervisory changes, identifies areas requiring continued monitoring, and confirms that the criteria for equivalence decisions are still met.

The public summary offers insights into the EBA’s monitoring approach, methodology, scope, parameters, and limitations, while maintaining confidentiality of the detailed report. It notes that follow-up actions will depend on the significance of findings in each jurisdiction.

Legal basis: Article 33(3) of the EBA’s founding Regulation requires the Authority to monitor developments in jurisdictions benefiting from European Commission equivalence decisions under the CRR, ensuring ongoing compliance with the conditions for those decisions.