The European Banking Authority (EBA) launched today a call for expression of interest to set up its new Banking Stakeholder Group (BSG) and to create a reserve list. The mandate of the current members will expire on 30 June 2024. The call for expression of interest is open to candidates representing stakeholders across the European Union. The deadline for application is 27 March 2024 at 23:59 CET.
Application process
The applications must be submitted via the online form and be accompanied by a CV in Europass format. Candidates are also invited to provide a letter of motivation clearly stating the reasons for the application as well as their main expectations in terms of future contribution to the work of the BSG.
The relevant documents for the application are available here.
The EBA aims to ensure, to the extent possible, an appropriate reflection of diversity of the banking sector, geographical and gender balance and representation of stakeholders across the EU.
The final decision on the composition of the BSG will be taken by the EBA’s Board of Supervisors (BoS) in June 2024. Applicants will be informed accordingly by the end of June 2024 and the composition of the new BSG will be made available on the EBA’s website. The BoS will also appoint candidates to be included in a reserve list.
The first meeting of the newly composed BSG will be held on 16 July 2024.
Background information
The BSG is set up according to Article 37 of the EBA Founding Regulation, to help facilitate dialogue and consultation with stakeholders on the work of the EBA.
The BSG is composed of 30 members, of which, 13 members representing, in balanced proportions, financial institutions operating in the Union of whom three shall represent cooperative and savings banks; 13 members representing employees’ representatives of financial institutions operating in the Union, consumers, users of banking services and representatives of SME’s; and 4 members who are independent top-ranking academics.
The BSG meetings take place at least four times a year, either virtually or in person, at the EBA premises in Paris. The EBA provides adequate compensation to members that represent non-profit organisations (this excludes industry representatives). Each member of the EBA BSG serves for a period of four years and individual terms can be renewed once. More information on the BSG activities can be found here.
The tendering process for the operation of the Netherlands Pavilion during the World Expo 2025 Osaka, Kansai, Japan, has been published. This tender offers hospitality and facility management companies an opportunity to present themselves on large international stage. A consortium is being sought to organise and execute various aspects of the Netherlands Pavilion, including catering, hospitality, operational and event management, HRM, security, cleaning and the operation of the gift shop.
Expo 2025 Osaka Kansai will take place from April 13 to October 13, 2025, in Japan. The organisation anticipates receiving approximately 28 million business and private visitors, with around 90% expected to come from Japan. More than 160 countries and organizations will participate. The theme of this edition is ‘Designing Future Society for Our Lives,’ focusing on shaping a world where major crises such as climate and health will affect livability.
The Netherlands participation has the theme ‘Common Ground: creating a new dawn together’ and aims to showcase Dutch innovative solutions in areas such as the energy transition. During Expo 2025, the pavilion intends to provide a meeting place for businesses, knowledge institutions, and (cultural) organisations to bring together different perspectives and expertise in order to find collective solutions to global challenges. In addition to the visitor experience, the pavilion includes event space, a shop and a café. The design was created by the architectural firm RAU, engineering firm DGMR, experience design studio Tellart, and the Japanese construction company Asanuma.
The General Affairs Council has confirmed the extension of the mandate of Jose Manuel Campa as Chairperson of the European Banking Authority (EBA) until May 2029. The decision on the extension of the mandate was based on the evaluation of the work of the past five years, as well as on work requirements for the coming years.
For two years now Ukraine has been defending itself every day against Russian aggression. The Netherlands will continue to support Ukraine, for as long as it takes. This article presents an overview of the Netherlands’ main objectives and the actions it has taken in support of Ukraine.
Enlarge imageWall of Remembrance in the center of Kyiv, February 2024
The Netherlands continues to support Ukraine
On 24 February 2022 Russia launched a large-scale invasion of Ukraine. This represented a major escalation of Russia’s occupation of Crimea and parts of eastern Ukraine in 2014.
Over the past two years Russia has devastated Ukrainian villages and cities – and destroyed the lives of many Ukrainians. Every day, Ukrainians continue to fight for their lives and their freedom. In the areas of the country held by Russia, millions of Ukrainians are suffering under the cruelty of occupation.
At the same time, Ukraine is fighting for the freedom and security of the whole European continent. A Russian victory in Ukraine will not mean an end to the danger. This is another reason why the Netherlands supports Ukraine. The Netherlands needs to continue to shoulder its responsibility, and together with other countries, it must do its utmost to support Ukraine. There is no alternative. If Ukraine loses the war, the cost for the rest of Europe will be many times higher.
Dutch aid for Ukraine
The Netherlands supports Ukraine in a number of ways:
Military support: such as equipment and training for Ukrainian soldiers.
Justice for Ukraine: working to ensure that war crimes do not go unpunished and that people who have suffered damage, loss or injury in the war receive compensation.
Sanctions against Russia: making it harder for Russia to finance the war.
Reconstruction: support to repair damage where it is most needed: water mains, roads, hospitals and the electrical grid.
Humanitarian aid: helping international, Dutch and Ukrainian organisations to provide emergency goods, ensure the availability of drinking water and water filters, medicine and food, and to protect and assist civilian victims.
Other support: The Netherlands is also helping Ukraine by providing support in areas like healthcare, psychosocial care for victims, protection from cyberattacks and agriculture.
All these types of support are interconnected. For example, if Ukraine is not safe, reconstruction is impossible and refugees will not be able to return to the country. Lasting peace is only possible if war crimes are punished and victims compensated.
Military support
The Netherlands supports Ukrainian troops with weapons, training, equipment and other necessary supplies. In total the Netherlands has given Ukraine over €2.63 billion in military support. Another €2 billion has been set aside for 2024. Read more about military support for Ukraine (in Dutch).
Justice for Ukraine
Ukraine is currently investigating more than 100,000 war crimes that have occurred in the country. These include the destruction of homes and hospitals, murder, rape and the abduction of children – and the number continues to rise. The Netherlands also wants those responsible for these crimes to be put on trial.
So far, the Netherlands has sent four expert forensic missions through the International Criminal Court to Ukraine to investigate war crimes.
The International Centre for the Prosecution of the Crime of Aggression against Ukraine in The Hague is conducting an investigation, with the goal of prosecuting those responsible. The Dutch government is also in favour of setting up a tribunal devoted to the crime of aggression, which would be based in The Hague.
The Netherlands offers training and legal support for Ukrainian public prosecutors and judges because most of the war crimes registered will be tried by Ukraine itself.
A Register of Damage, which is based in The Hague, will record all war damage claims by Ukrainian civilians, companies and government authorities. Besides this register, an organisation that can ensure that registered claims by Russian will be honoured must still be set up. Through the Organization for Security and Co-operation in Europe (OSCE) the Netherlands supports and funds investigations into the tens of thousands of Ukrainian children abducted by Russia.
Recovery and reconstruction
Ukraine can only keep fighting as long as its economy continues to function: healthcare personnel, police officers and teachers need to be paid, and roads and power grids must be repaired.
To keep the Ukrainian economy afloat the Netherlands provides budget support through the international financial institutions and the European Union.
The Netherlands supports the private sector’s contribution to Ukraine’s reconstruction and recovery, particularly in areas where the Netherlands has knowledge and expertise: agriculture, water and healthcare. It also offers export credit insurance to cover the risks of doing business in Ukraine.
To ensure that Ukrainians are not left out in the cold, the Netherlands is also providing equipment and parts for the Ukrainian energy network.
Through various organisations the Netherlands is helping to clear landmines in Ukraine. It is currently the world’s most heavily mined country.
Sanctions against Russia
Together with the other member states of the EU, the Netherlands has adopted 13 packages of sanctions against Russia. The purpose of these sanctions is to make it increasingly difficult for Russia to sustain the war, and to put additional pressure on Russia to withdraw from Ukraine.
The reception of Ukrainian refugees in the Netherlands
Around six million Ukrainians are living outside their homeland as refugees. Another four million are refugees in their own country. Since the start of the war the Netherlands has taken in over 100,000 Ukrainian refugees. Read more about the reception of refugees from Ukraine.
What next?
The future of the Ukrainian people and our own future are closely linked, and this is why the Netherlands continues to stand by Ukraine, together with the other countries of the EU. On 1 February 2024, all EU countries reached an agreement about a multi-year support package totalling €50 billion for Ukraine, for the 2024-2027 period. The government has also set aside over €2 billion for 2024 to cover additional support for Ukraine.
Security agreement with Ukraine
The Netherlands and Ukraine are to sign a security agreement covering the next ten years. The agreement signals the Dutch government’s commitment to provide enduring support to Ukraine in the areas of security, reconstruction and justice. The agreement means that the Netherlands will help Ukraine defend itself against Russia and achieve further integration into the EU and NATO.
Conference on justice for Ukraine
On 2 April 2024, the Netherlands, Ukraine and the European Commission will co-host the international conference ‘Restoring Justice for Ukraine’ at the World Forum in The Hague. The aim is to combat impunity and compensate victims. Read more about the conference here.
The Netherlands and Ukraine are to sign a security agreement covering the next ten years. The agreement signals the Dutch government’s commitment to provide enduring support to Ukraine in the areas of security, reconstruction and justice. The agreement means that the Netherlands will help Ukraine defend itself against Russia and achieve further integration into the EU and NATO.
‘Our own security is closely intertwined with Ukraine’s,’ said foreign minister Hanke Bruins Slot. ‘Not for a single day can we afford to forget that the Ukrainians’ brave fight is also our concern. Ukraine must be able to rely on our support, not only now but in the longer term too. This also sends a powerful signal to Russia, which is hoping that Western support for Ukraine will eventually dry up. Without that support, Ukraine as we know it would cease to exist. The Russian threat would come even closer, and the stability and security of our continent would come under serious pressure.’
On 12 July 2023, during the NATO summit in Vilnius, the Netherlands announced that it would seek to make bilateral security arrangements with Ukraine, following the example of the G7 countries. The Netherlands and Ukraine subsequently entered into talks to work out the details of these arrangements. The security agreement includes arrangements on military support in the medium and longer term, cooperation involving the defence industry, improving Ukraine’s resilience – including its response to cyber threats – and improving interoperability between Ukraine’s army and NATO troops.
The Netherlands and Ukraine also agreed to continue their joint efforts on recovery and reconstruction and on countering hybrid threats, to maintain their commitment to establishing truth and justice for all victims of the war, and to continue calls for sanctions that will increase the pressure on Russia. The official signing of the agreement will take place soon.
The EBA is seeking to implement the changes driven by the revised operational risk framework.
The new data will allow supervisors and users of reporting and disclosure data to monitor institutions’ compliance with the Basel III framework for operational risk and will further foster consistent and enhanced supervision and market discipline.
The alignment of the disclosure requirements with the Basel III framework and its integration with reporting will promote comparability and consistency of the information.
The European Banking Authority (EBA) today launched a public consultation on two draft Implementing Technical Standards (ITS) amending Pillar 3 disclosures and supervisory reporting requirements for operational risk. These consultations complement two additional consultation papers on Pillar 3 and supervisory reporting published on 14 December 2023, in line with the roadmapfor the implementation of the EU Banking Package. The consultations run until 30 April 2024.
These amending ITS implement the new Capital Requirements Regulation (CRR3) reporting and disclosure requirements linked to the introduction of the revised framework for the calculation of own funds requirements for operational risk. The consultations are part of phase 1 in the implementation of the EU Banking Package, which also includes the two consultations published in December 2023 covering the disclosure and reporting requirements for output floor, credit risk (also IP Losses), credit valuation adjustment (CVA), market risk and leverage ratio.
With these ITS, the EBA aims to bring under one single document both the reporting and disclosure requirements for operational risk and the broader Pillar 3 disclosures and supervisory reporting CRR3 changes (already under consultation) so as to provide certainty to banks as soon as possible. This also explains the shorter consultation period.
Comments to both consultation papers can be sent to the EBA by clicking on the “send your comments” button on the consultation pages. Comments to the Pillar 3 disclosures and supervisory reporting are expected to be submitted separately. Please note that the deadline for the submission of comments is 30 April 2024. All received contributions will be published at the end of the consultations, unless requested otherwise.
A public hearing on the draft ITSs will take place via online meeting on 20 March 2024from 10:00 to 13:00CET. Please register for the hearing hereentering the password Oprisk2024by 18 March 16:00 CET.
Following the consultation period, the two draft ITS will be finalised and they are expected to be submitted to the European Commission by end-June 2024.
Legal basis and background
Regulation (EU) No 575/2013 (‘the CRR’) mandates the EBA, in articles 434a and 430(7), to develop uniform disclosure and reporting requirements. These requirements are included respectively in the Commission Implementing Regulations (EU) 2021/637 and 2021/451. These ITS need to be updated whenever prudential or supervisory requirements change as is now the case with the CRR3/CRDVI.
The forthcoming EU Banking Package will implement the latest Basel III reforms, which will strengthen the EU institutions’ prudential framework, including also the related new and amended reporting and disclosure requirements for institutions.
In developing these consultation papers, the EBA has tried to align the disclosure and reporting frameworks to facilitate institutions’ compliance with both requirements. It has also done a mapping of the revised disclosure templates and the reporting templates. The disclosure requirements have been developed in line with the relevant Basel III standards to ensure comparability with internationally active banks.
The European Banking Authority (EBA) today launched a consultation on two set of draft Regulatory Technical Standards (RTS) and one Implementing Technical Standard aiming to clarify the composition of the new business indicator at the heart of the operational risk capital requirements calculation, mapping the business indicator items to financial reporting (FINREP) items and highlighting possible adjustments to the business indicator in case of specific operations. The consultation runs until 21 May 2024.
The draft RTS on the specification on the BI items provide a list of typical items developed for each component of the business indicator in line with the work provided in the EBA Policy Advice on the Basel III Reform. They also include subsequent amendments to accounting standards and clarify the elements to be excluded from the business indicator. The draft ITS map, where possible, the typical items of the business indicator to their corresponding reporting cells in FINREP. Finally, the draft RTS on BI adjustments require institutions to use the actual three-year historical data or a limited number of alternative methodologies following an operation. In the context of disposals, the draft RTS specify the conditions under which permission to exclude business indicator items related to disposed entities or activities may be granted.
In parallel with the public consultation, the EBA will carry out a quantitative analysis based on data requested as part of the Basel III monitoring quantitative impact study (QIS) to assess the impact of the proposed amendments, as well as to inform the calibration of certain aspects of the new framework. The feedback received and the QIS results will be taken into account in the finalisation of the draft technical standards.
Comments to this consultation can be sent to the EBA by clicking on the “Send your comments” button on the consultation page. Please note that the deadline for the submission of comments is 21 May 2024. All contributions received will be published following the close of the consultation, unless requested otherwise.
A public hearing will take place in the form of a webinar on 20 March 2024, 10:00 – 13:00 CET. The EBA invites interested stakeholders to register using this link and entering the password Oprisk2024 by 18 March 2024, 16:00 CET. The dial-in details will be communicated to the registered participants after the registration deadline.
Legal basis and background
Article 314(6)(a) and (b) of Regulation (EU) No 575/2013 (Capital Requirements Regulation, CRR), mandates the EBA to develop draft RTS to further specify the components of the BI by developing a list of items and the elements to be excluded from the BI, respectively. Article 314(7) of the CRR, mandates the EBA to develop draft ITS to provide the mapping of the items of the BI to the corresponding reporting cells in Commission Implementing Regulation (EU) 2021/451 (FINREP). Article 315(3) of the CRR3 mandates the EBA to draft RTS to specify “how institutions shall determine the adjustments to the business indicator” (point (a) of Article 315(3) referencing mergers, acquisitions and disposals), “the conditions according to which competent authorities may grant the permission” and “the timing of the adjustments” (points (b) and (c) of Article 315(3) referencing disposals only).
On 2 April 2024, the Netherlands, Ukraine and the European Commission will co-host the international conference ‘Restoring Justice for Ukraine’ at the World Forum in The Hague. Foreign ministers and justice ministers from countries involved in the fight for justice for Ukraine since the start of the conflict will be able to voice their support for long-term efforts to tackle impunity and compensate victims.
For almost two years now, Ukraine has been resisting unprecedented Russian aggression. Day after day, the Russian regime continues its attacks on schools, hospitals and other civilian objects, resulting in civilian casualties. Those living in occupied regions recount stories of torture, rape and abduction by the Russians. The Netherlands and a large group of other countries believe that this must not go unpunished, and that justice must be achieved for all the victims.
About the conference
One aim of the conference is to take stock of the substantial progress made so far in documenting and investigating these crimes. Another aim is to achieve further progress on the four tiers of item 7 of President Zelenskyy’s ten-point peace plan, on which – at Ukraine’s request – the Netherlands is playing a leading role:
support for Ukrainian investigation and prosecution of international crimes at national level;
investigation and prosecution of international crimes at international level, including the crime of aggression
reparation of harm suffered;
international coordination, cooperation and information-sharing.
Alongside representatives of the Netherlands, Ukraine, the European Commission and the invited countries, representatives of the International Criminal Court, the Council of Europe, the Register of Damage for Ukraine, Eurojust, the International Centre for the Prosecution of the Crime of Aggression against Ukraine, the Ukraine Joint Investigation Team and non-governmental organisations will be present.
Truth and justice for Ukraine
The Netherlands believes it is of vital importance that truth and justice be achieved both for Ukraine and for all victims of Russia’s aggression. This is why the Netherlands supports various initiatives in this regard, such as the investigations by the International Criminal Court and the Ukrainian public prosecution service into international crimes committed in Ukraine. In addition, the Netherlands has sent four forensic investigation missions to Ukraine under the banner of the International Criminal Court. The Netherlands is also the host state of the Register of Damage for Ukraine and the International Centre for the Prosecution of the Crime of Aggression against Ukraine (ICPA), which are based in The Hague. Under certain conditions, including broad international political and financial support and sufficient capacity, the Netherlands will also host a future special aggression tribunal in The Hague. Furthermore, because the various international initiatives must be aligned, the Netherlands is working for more effective coordination and information-sharing, including via the Dialogue Group on Accountability for Ukraine.
In July 2022 the Netherlands hosted the Ukraine Accountability Conference in order to better connect, coordinate and organise the accountability efforts being undertaken by various countries and organisations.
The State is lodging an appeal in cassation to the Dutch Supreme Court against the judgment of The Hague Court of Appeal on the distribution of American F-35 parts to Israel. This was decided by the Minister for Foreign Trade and Development Cooperation, Geoffrey van Leeuwen. The court ruled this morning that the Netherlands must cease distributing F-35 parts to Israel no later than seven days from today. Of course the government respects the Court of Appeal’s judgment and will implement it.
In the government’s view, the distribution of American F-35 parts is not unlawful. The government believes it is up to the State to its determine foreign policy. The government is lodging an appeal in cassation because it believes the Court of Appeal did not take sufficient account of this.
In the meantime, the government will consult with international partners within the F-35 programme very soon in order to secure the Netherlands role’ within the programme. The government will do everything it can to convince allies and partners that the Netherlands remains a reliable partner in the F-35 project and in European and international defence cooperation.
That cooperation is important for the Netherlands’ own national security. But it’s also essential for Israel, because the F-35 aircraft is crucial for Israel’s security, in particular with regard to threats emanating from the region, for instance from Iran, Yemen, Syria and Lebanon.
The State’s decision to lodge an appeal in cassation against this judgment is separate from the situation in Gaza. The Netherlands continues to call for an immediate temporary humanitarian ceasefire, and for as much humanitarian aid as possible to be allowed to reach the suffering people of Gaza. The situation is extremely serious. It is clear that international humanitarian law applies in full and Israel, too, must abide by it.
The follow-up report focuses on the 17 competent authorities assessed as having at least one supervisory benchmark which was not ‘fully applied’ in the 2021 Report.
All 17 CAs were found to have responded to the assessment of the initial peer review seriously and most have adopted measures to remedy the deficiencies identified. Particular improvements were identified in the areas of assessment of the financial soundness of proposed acquirers and of suspicions of money laundering/terrorist financing issues.
Legal basis and background
The follow-up report has been developed in accordance with Article 23 of the EBA Decision of 28.04.2020 establishing a framework for Ad-Hoc Peer Review Committees (EBA/DC/2020/326) providing that a follow-up review has to be carried out two years after the conclusion of the initial peer review in order to assess if any progress has been made by the CAs to remedy the deficiencies previously identified.
The peer review has been performed by an ad hoc Peer Review Committee made up of EBA and competent authorities’ staff in accordance with the EBA peer review work plan for 2023-2024 and following the process in Article 30 of the EBA Regulation and EBA peer review methodology.
The initial 2021 Report assessed implementation of the common procedures and assessment methodology for acquisition or increase of direct or indirect qualifying holdings in a credit institution (CI) under the Capital Requirements Directive (CRD). The report covered 30 competent authorities (CAs): all 27 of the EU Member States, the ECB-SSM and 2 EEA countries.
