At its meeting on 19 December 2019 the General Board considered a number of vulnerabilities in the EU financial system, including the indebtedness of non-financial corporations, the liquidity of assets in investment funds, and the misconduct costs facing financial institutions. Moreover, the General Board took note of the risks to financial stability which might result from climate change and disruptions in critical financial infrastructures.
The European Banking Authority (EBA) published today an updated list of capital instruments that Competent Authorities (CAs) across the European Union (EU) have classified as Common Equity Tier 1 (CET1). Since the publication of the previous update in July 2019, a new CET1 instrument has been assessed and evaluated as compliant with the Capital Requirements Regulation (CRR). The list will be maintained and updated on a regular basis.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today Joint guidelines on cooperation and information exchange, establishing colleges of anti-money laundering and countering the financing of terrorism (AML/CFT) supervisors for the first time in the EU to ensure effective cooperation and information exchange between competent authorities. These measures are needed to strengthen the EU’s AML/CFT efforts.