On 22 July 2019, the European Banking Authority (EBA) published an updated list of Common Equity Tier 1 (CET1) instruments of EU institutions. The list is accompanied by an updated CET1 report, which includes information on the underlying objectives of the monitoring as well as on the consequences of including or excluding instruments in or from the CET1 list.
Article 26(3) of the Capital Requirements Regulation (CRR) mandates the EBA to establish, maintain and publish a list of all the forms of capital instruments in each Member State that qualify as CET1. In addition, Article 80(1) mandates the EBA to monitor the quality of own funds instruments and notify the European Commission immediately where there is significant evidence of those instruments not meeting the criteria set out in Article 28 or, where applicable, Article 29. The assessments and findings in the CET1 report are based on the CRR provisions applicable at the time of the review, and are therefore before the introduced of the amended provisions laid done on the revised CRR (CRR2).