The PRA has published Consultation Paper 18/14: CRD IV: compliance with the European Banking Authority’s guidelines on disclosure of encumbered and unencumbered assets (CP18/14).
In CP18/14 the PRA sets out a draft supervisory statement concerning its expectations relating to firms’ compliance with the European Banking Authority’s guidelines on disclosure of encumbered and unencumbered assets (the EBA Guidelines). The draft supervisory statement is not, however, intended to be guidance on meeting disclosure obligations other than the EBA Guidelines.
Member State competent authorities are permitted to waive the requirement for firms to disclose template B of the EBA Guidelines. The PRA proposes to waive the requirement if firms meet at least one of three criteria set out in the draft supervisory statement. The draft supervisory statement also sets out the PRA’s expectations as to the:
- factors to be considered in determining the appropriate level of disclosure provided in complying with the EBA Guidelines;
- basis of calculation to be applied where the EBA Guidelines require median values to be disclosed; and
- frequency with which firms publish disclosures prepared to comply with the EBA Guidelines.
The deadline for comments on CP18/14 is 24 November 2014.