The implementation in France of European rules on information to be disclosed by the competent authorities (Supervisory Disclosure)
Transparency is an essential factor for effective banking supervision whose importance was emphasized several times at international level by the Basel Committee on Banking Supervision, particularly in its "Core Principles for Effective Banking Supervision" (document published in 1997 and updated in 2006 and 2012). This importance is even higher at European level as it is important for the proper functioning of financial markets that the Community provisions are implemented in a harmonized manner and that supervisory practices converge.
Thus, Directive 2013/36 / EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (Capital Requirement Directive, CRDIV) requires the competent authorities to publish certain information so that the internal banking market can operate with increasing effectiveness and citizens of the Union are afforded adequate levels of transparency. The information published should be sufficient to enable a meaningful comparison of the approaches adopted by the competent authorities of different Member States.
Article 143 (1) of the CRDIV specifies the different categories of information that supervisors must publish:
Text of laws, regulations and administrative provisions and general guidance adopted in each Member State in terms of prudential regulation;
Conditions of exercise of options and national discretions available in Community legislation;
General criteria and methods that supervisors apply for the purpose of the supervisory review and evaluation process;
Aggregate statistical data on key aspects of the implementation of the prudential framework in each Member State.
To ensure a harmonized implementation of the CRDIV transparency requirements, and considering more broadly the importance of readability and comparability of the rules and procedures within a context of increasing complexity of prudential rules, the European Banking Authority (EBA) has published in November 2013 an Implementing Technical Standards on the format, structure, contents and annual publication date of the information to be disclosed by competent authorities. The European Commission has adopted these technical standards in the form of its Implementing Regulation (EU) No 650/2014 of 4 June 2014. This regulation defines a common publication format designed to facilitate access to published information and enable their comparison. Under this regulation, the information provided by European supervisors must be consistent in substance and in form and updated annually.
The solution chosen by the European Banking Authority is based on the use of the Internet with a two-tier architecture. At European level, summary tables are developed and posted on the website of EBA. These tables show essential information and allow comparison between countries. They are connected to the Internet websites of the members of EBA, which contain all the information required by the CRDIV, with an organization and a presentation totally similar to those of the EBA website.
The organization of the EBA and national authorities websites follows, under four main headings, the elements referred to in Article 143 (1) of the CRDIV:
1 - Rules and Guidance : this part contains the texts in force, but also detailed information on more specific issues such as exemptions from the application of prudential requirements, evaluation of internal risk measurement approaches and the process of approval of these approaches ...
2 - Options and national discretions (details of the choices made in the implementation process);
3 - Methodology of the process of supervisory review and evaluation process ("Pillar 2" of the solvency ratio);
4 - Statistical data on national banking sectors, the various risks and the activities of supervisors.