Circular C209 (“the Circular”) dated 17.05.17 regarding European Banking Authority “Revised guidelines on disclosure requirements under Part Eight of Regulation (EU) No 575/2013”

MNK Risk Consulting > News > Regulatory Developments > Circular C209 (“the Circular”) dated 17.05.17 regarding European Banking Authority “Revised guidelines on disclosure requirements under Part Eight of Regulation (EU) No 575/2013”

Through the Circular, CySEC informs the Regulated Entities that the European Banking Authority (EBA) published on 14.12.16, the final Guidelines (EBA/GL/2016/11) on disclosure requirements under Part Eight of Regulation (EU) No 575/2013 of the EU Parliament and of the Council of 26.06.13 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012.

The guidelines specify the form of guidance regarding information that institutions have to disclose in the application of the relevant articles within Part Eight, as well as regarding the presentation of information to be disclosed. However, these guidelines do not alter specifications of disclosure requirements that have already been introduced by implementing or delegated regulation for specific articles in Part Eight of said regulation.

The comprehensiveness of the guidance provided in these guidelines has led the EBA to limit, at this stage, its scope of application to:

  1. global systemically important institutions (G-SIIs); and
  2. other systemically important institutions (OSIIs); and
  3. to any other institution opted into these guidelines on the basis of a supervisory decision.

CySEC’s expects that: From 31.12.17 onwards these guidelines will apply; therefore, the Regulated Entities are expected to comply.

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