On 10 August 2020, the European Banking Authority (EBA) published a final report concerning amendments to its existing guidelines (EBA/GL/2018/01) on uniform disclosures under Article 473a of the Capital Requirements Regulation (CRR) on the transitional period for mitigating the impact of the introduction of IFRS9 on own funds to ensure compliance with the CRR ‘quick fix’ in response to the COVID-19 pandemic.

The purpose of these amending guidelines is to cover the disclosures required in new Article 468 and amended Article 473a of the CRR ‘quick fix’ as regards the temporary treatment of unrealised gains and losses measured at fair value through other comprehensive income, and IFRS 9 transitional arrangements, respectively.

Because the guidelines do not introduce new disclosures but merely specify how disclosures imposed with the CRR 2 and the CRR ‘quick fix’ should be made, the EBA decided not to carry out public consultations or a cost-benefit analysis, in order to provide institutions with legal certainty as early as possible and the maximum time possible to prepare.