Continuing review of the quality of own funds and eligible liabilities instruments
Competent authorities shall, without delay and upon request by EBA, forward all information to EBA that EBA considers relevant concerning new capital instruments or new types of liabilities issued in order to enable EBA to monitor the quality of own funds and eligible liabilities instruments issued by institutions across the Union.
A notification shall include the following:
a detailed explanation of the nature and extent of the shortfall identified;
technical advice on the action by the Commission that EBA considers to be necessary;
EBA shall provide technical advice to the Commission on any significant changes it considers to be required to the definition of own funds and eligible liabilities as a result of any of the following:
relevant developments in market standards or practice;
changes in relevant legal or accounting standards;