EBA’s opinion on supervisory reporting and Pillar 3 disclosures following COVID-19 outbreak

The European Banking Authority (EBA) issued March 12th a statement on actions needed in order to mitigate the impact of the COVID-19 outbreak upon the banking sector. On March 31st, EBA published a second statement whose aim is to detail some further possible actions that institutions or competent authorities should take.

Following EBA’s statement, The Prudential Regulation Authority (PRA) at the Bank of England, published April 2nd 2020 a statement highlighting its approach to regulatory reporting and Pillar 3 disclosures for UK banks, building societies, designated firms and credit unions in response to the serious COVID-19 outbreak, taking into account EBA’s recommendations.

This article provides further insight on the key aspects within EBA’s statement and PRA updates on specific topics related to harmonised regulatory reporting.