The European Banking Authority (EBA) has published an updated methodology for assessing the regulatory and supervisory frameworks of non-EU countries. The updates were made to reflect the amendments made to the revised Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD).
The methodology uses two questionnaires published on EBA’s website to perform a thorough assessment of the jurisdictions who submit themselves to the supervision. The first involves “a preliminary screening to determine whether the main requirements and principles are in place”. The second is described as “a more in-depth examination” that systemically maps provisions of the EU framework with that of the non-EU country.
EBA has streamlined its second questionnaire to improve user experience and moved both questionnaires to an online platform. Countries may reply directly via a secured digital format or request dedicated access to the platform.
