Background
The EBA performed the peer review to assess the effectiveness and degree of supervisory convergence of issues relating to prudential disclosures and market discipline, assessing compliance by institutions with Pillar 3 disclosure requirements in Part Eight of the Capital Requirements Regulation and in Article 45i of the Bank Recovery and Resolution Directive and the related EBA implementing technical standards. The EBA conducted the peer review between 1 June 2023 to 30 June 2025.
Peer Review Report
The EBA’s Peer Review Report consists of six chapters. Chapter 1 presents an overall introduction including the methodology used by the EBA. Chapter 2 provides general explanations on the context of the peer review, in particular it explains the different legal and supervisory set-ups in the Member States of the targeted competent authorities (NCAs), as well as the peculiarities arising from these. Chapters 3, 4, 5, and 6 look at the different benchmarks to be evaluated under the peer review, presenting all relevant findings and drawing the conclusions from those findings, as well as best practices.
Key findings
The EBA found that most NCAs have fully or largely embedded Pillar 3 requirements into their supervisory frameworks, demonstrating a high degree of convergence across the EU. Four authorities were identified as having implemented these requirements to a very high standard, reflecting advanced supervisory practices and implementation of the relevant legal provisions. But the EBA also found certain differences. For example, one NCA was rated “partially applied” across all benchmarks and another NCA received mostly “not applied” ratings, due to the absence of formal methodologies and processes to systematically assess compliance.
Next steps
The EBA will conduct a follow-up peer review of the implementation of the measures included in the report in two years, including on the general recommendations addressed to all NCAs.