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The CRR mandated the Commission to adopt the following legal instruments:
- Liquidity coverage requirement (LCR): delegated act to specify in detail the LCR in accordance with Article 460 of the CRR;
- Leverage ratio: delegated act to amend the capital measure and the total exposure measure of the leverage ratio referred to in Article 429(2) in accordance with article 456(1)(j) of the CRR.
Purpose and format of the hearing:
The purpose of the hearing will be to gather preliminary views from interested parties on a number of important issues underpinning the development of these delegated acts. The Commission anticipates the agenda will include at least the following items:
- Tentative timetable for the adoption of the delegated acts
- Definition of Extremely High Quality and High Quality Liquid Assets (HQLA): reactions to EBA report and suggestions for an HQLA List
- Liquidity outflows/inflows
- Leverage ratio: potential amendments to the CRR text in the light of the (forthcoming) EBA report on the Leverage Ratio and the revised Basel text.
The hearing will have a presentation/open forum type format at which the Commission will receive short statements from interested parties in response to some preliminary orientations from the Commission representatives. This format will not be conducive to extensive statements or presentations but will allow your representative(s) to get a sense of the debate and a first opportunity to react.
Follow-up of the hearing:
The Commission will be accepting submissions in writing from interested parties as a follow up to the hearing and, if useful, the Commission will consider organising a further hearing to revisit some of the more complex issues. The deadline for subsequent written submissions will be 31 March 2014. Please send them by e-mail, with in subject “Written submissions as a follow-up to the Public Hearing of 10 March 2014 on LCR and LR”.
Should you have any questions about the hearing, do not hesitate to send us an e-mail.
For more information, please see the.