August 10 2016

EBA Consultation paper (EBA/CP/2016/06)

The consultation paper mentions, that the EBA has no specific mandate to elaborate Guidelines on the LCR or on liquidity risk in general terms. Nevertheless, the EBA takes the view that article 435 (1) (f) of the CRR is as a legal foundation sufficient for guidelines to harmonise the specifications. We strongly disagree with this assessment and believe that EBA Guidelines are not the appropriate legislative level. In order to accomplish a solid legal basis, an amendment of the CRR would be necessary. The annexes referred to should be checked again, as they correspond in part to the final EBA ITS rather than the version published in the EU Official Journal.

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