On 29 May 2020, the European Banking Authority (EBA) published a report on convergence of supervisory practices in 2019. Overall, the report finds that the key topics for supervisory attention identified in the EBA 2019 convergence plan have been largely implemented in supervisory work across the EU. The report is part of the EBA’s work to actively foster and promote supervisory convergence across the EU in order to bring about strong supervisory standards and a common supervisory culture.
One of the core elements covered in the report is the practical application of the Single Rulebook by Member State competent authorities in their supervisory activities. The report also provides an update on the policy developments and training activities supporting supervisory convergence. For the first time, the report incorporates information on convergence in supervisory colleges that used to be included in a separate report in the past.