Status of guidelines

This document contains guidelines issued pursuant to Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (‘ the EBA Regulation’ ). In accordance with Article 16(3) of the EBA Regulation, the competent authorities and financial institutions must make every effort to comply with the guidelines.

The guidelines specify the EBA’s view on appropriate supervisory practices within the European System of Financial Supervision or on how Union law should be applied in a particular area. The EBA therefore expects all competent authorities and financial institutions to whom the guidelines are addressed to comply with them. The competent authorities to whom the guidelines apply should comply by incorporating them into their supervisory practices as appropriate (e.g. by amending their legal frameworks or their supervisory processes), including cases where the guidelines are directed primarily at institutions.