(1)

In December 2019, the Basel Committee on Banking Supervision (BCBS) published the consolidated Basel Framework, including the updated Pillar 3 disclosure requirements (2), which were mostly introduced in Regulation (EU) 575/2013 by Regulation (EU) 2019/876 of the European Parliament and of the Council (3). In order to implement those amendments, a consistent and complete Pillar 3 disclosure framework should be laid down.

(2)

Commission Implementing Regulation (EU) No 1423/2013 (4), Commission Delegated Regulation (EU) 2015/1555 (5), Commission Implementing Regulation (EU) 2016/200 (6) and Commission Delegated Regulation (EU) 2017/2295 (7) lay down uniform formats, templates and tables for own funds, the countercyclical capital buffers, the leverage ratio and asset encumbrance, respectively. Uniform formats, templates and tables should therefore be extended to cover the disclosures of other prudential aspects which are required to be disclosed by Regulation (EU) 2019/876. More specifically, a key metrics disclosure template should be introduced, which facilitates access by market participants to the institutions’ key information on own funds and liquidity.

(3)

The templates and tables used for disclosure should convey sufficiently comprehensive and comparable information, thus enabling users of that information to assess the risk profiles of institutions and their degree of compliance with Regulation (EU) No 575/2013. However, in order to take into account the principle of proportionality, the disclosure formats, templates and tables should take into account the differences in size and complexity between institutions, which give rise to different levels and types of risks, by including additional thresholds for extended disclosures.

(4)

Regulation (EU) 2019/876 introduced in Regulation (EU) No 575/2013 a new calibrated leverage ratio and G-SIIs leverage ratio buffer. In order to implement that amendment and the necessary adjustments in the exposure calculation, it is necessary to lay down templates and tables.

(5)

Regulation (EU) 2019/876 introduced in Regulation (EU) No 575/2013 new disclosure requirements for the net stable funding ratio. In order to implement that amendment, it is necessary to lay down a template for those new disclosure requirements.

(6)

Regulation (EU) 2019/876 replaced in Regulation (EU) No 575/2013 the standardised approaches for counterparty credit risk with a Standardised Approach for Counterparty Credit Risk (SA-CCR), which is more risk sensitive, and with a Simplified SA-CCR for institutions that meet predefined eligibility criteria. In addition, Regulation (EU) 2019/876 revised the Original Exposure Method. In order to implement those amendments, it is necessary to introduce a comprehensive set of disclosure tables and templates.

(7)

Regulation (EU) 2019/876 introduced into Regulation (EU) No 575/2013 a new disclosure requirement for performing, non-performing and forborne exposures, including the disclosure of information on collaterals and financial guarantees received. In order to implement that amendment and those new disclosure requirements, it is necessary to introduce a comprehensive set of templates and tables. For reasons of simplicity and consistency, those templates and tables should be based on the disclosure templates and tables that have already been developed by the EBA in its guidelines on the disclosure of non-performing and forborne exposures (8).

(8)

Regulation (EU) 2017/2401 of the European Parliament and of the Council (9) amended Regulation (EU) No 575/2013 to reflect into the capital requirements laid down in that Regulation the specific features of STS securitisations as laid down in Regulation (EU) 2017/2402 of the European Parliament and of the Council (10). It is necessary to introduce new disclosure templates and tables with quantitative and qualitative information on securitisation to reflect that amendment.

(9)

Regulation (EU) 2019/876 amended certain disclosure requirements on remuneration laid down in Regulation (EU) No 575/2013 to ensure that remuneration policies and practices for categories of staff the professional activities of which have a material impact on the institution's risk profile are consistent with effective risk management. A set of disclosure templates and tables implementing those disclosure requirements should be laid down.

(10)

In order provide institutions with the comprehensive integrated set of uniform disclosure formats, templates and tables and to ensure high quality disclosures, it is necessary to introduce a single set of technical standards on disclosures. It is therefore necessary to repeal Implementing Regulation (EU) No 1423/2013, Delegated Regulation (EU) 2015/1555, Implementing Regulation (EU) 2016/200 and Delegated Regulation (EU) 2017/2295.

(11)

In order to ensure timely and quality disclosures by institutions, they should be given sufficient time to adapt their internal systems for disclosures.

(12)

This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority (EBA) to the Commission.

(13)

The EBA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council (11),