Have your say consultation: EACB comments on the European Commission banking package “Aligning EU rules on capital requirements to international standards” Proposal for a directive – COM(2021)663 2021/0341 (COD)
The EACB notes that the amendments to the CRD are not limited to complementing the Basel reforms but are rather sweeping, extending in many respects the powers of supervisors, from fit & proper assessments to new sanctioning tools to acquisition transactions. We find the extension inadequate in some cases.
Looking only at the proposals in the area of governance, in particular, we do not agree with the EC’s plans to harmonise the timing of the fit&proper assessments. Moreover, we reject proposals for an assessment of the key function holders by the authorities. Any reform tackling an evaluation of directors should aim in the first place at ensuring proportional solutions, timely processes and respect for personal and labour rights of candidates.