On 18 February 2021, the European Banking Authority (EBA) issued a final report containing final draft Implementing Technical Standards (ITS) on the disclosure of indicators of global systemically important institutions (G-SIIs).
The final report has been prepared by the EBA in pursuance to the mandate given to it under Article 434a of the Capital Requirements Regulation 2 (CRR 2). The mandate is for the EBA to develop draft ITS specifying uniform disclosure formats and associated instructions in accordance with which the disclosures required under Titles II and III of Part Eight of the CRR shall be made, including the disclosure required in Article 441. Article 441 of the CRR 2 provides that G-SIIs shall disclose, on an annual basis, the values of the indicators used for determining their score in accordance with the identification methodology referred to in Article 131 of the Capital Requirements Directive V (CRD V).
The draft ITS implement the disclosure requirements included in Article 441 of the CRR 2. It also amends the EBA’s final draft ITS on institutions’ public disclosures of the information referred to in Titles II and III of Part Eight of the CRR that the EBA developed in accordance with the mandate in Article 434a of the CRR 2 in order to incorporate G-SII disclosures into the same ITS. To facilitate the comparability of information, the draft ITS seek to maintain consistency of disclosure formats with international standards on disclosures. For this purpose, the Pillar 3 disclosure, according to Article 441 of the CRR 2, is aligned with the Basel Committee on Banking Supervision template ‘Disclosure of G-SIB indicators’.