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EBA defines the minimum set of information on financial contracts for detailed records

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2016-01-06 09:13

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on detailed records of financial contracts, said EBA in a statement.

These RTS have been developed within the framework established by the EU bank Recovery and Resolution Directive (BRRD) and further specify the minimum set of the information on financial contracts that should be contained in detailed records and the circumstances under which the requirement to maintain such detailed records should be imposed.

These standards are part of the EBA’s work to implement the BRRD and address the problem of too-big-to-fail banks.

These standards aim to achieve a consistent and systemic approach to ensure that competent and resolution authorities are able to quickly and directly obtain relevant information on financial contracts from the institutions and relevant entities in order to support the application of resolution powers or resolution tools. This is expected to facilitate cooperation and common understanding among authorities, in particular as regards institutions and entities with cross-border operations. The information might be also used for derivatives valuation.

The RTS do not introduce additional reporting obligations. Institutions and relevant entities will be required to maintain detailed records on an ongoing basis, which will be made available to relevant authorities, if requested.

Legal basis

These draft RTS have been developed according to Article 71(8) of Directive 2014/59/EU (BRRD), which mandates the EBA to develop draft Regulatory Technical Standards (RTS) specifying the minimum set of the information on financial contracts that that should be kept in the detailed records, as well as the circumstances in which the requirement to maintain detailed financial records should be imposed on institutions and relevant entities.

Source: EBA

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IMPLICAREA BNR-ului in proiectul legii CHF

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As dori sa stiu cand avertizati bancile de politicile de cacao in raport cu clientii si de necesitatea schimbarii acestor politici de a distruge piata; de a gasi solutii amiabile cu clientii si de a numai purta un razboi care nu va ajuta pe nimeni. De asemenea cand veti avea de gand sa va implicati activ ca un mediator intre clienti si banci privind pierderile cauzate de moneda CHF. Urmeaza proiectul de lege CHF si ar fi bine sa va implicati activ in Parlament pentru a iesi o lege buna nu ca cea de dare in plata, sa ajute cu adevarat clientii nu monstrii pe care i-au produs de altfel chiar bancile, nu noi.

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