EBA published its 2020 Annual Report

2020 was an important year for the EBA as it concludes a 10-year cycle of activities

The Annual Report presents the ad-hoc activities the EBA undertook to mitigate the impact of COVID-19 on the EU banking sector. In particular, the EBA put in place prudential and supervisory measures to support bank lending into the real economy by publishing Guidelines on legislative and non-legislative moratoria on loan repayments, as well as Guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis. The EBA also focused on assessing and monitoring the evolution of risks and enhancing transparency. Although it deemed necessary to postpone the 2020 EU-wide Stress Test, it carried out an additional Transparency Exercise to provide updated information on banks’ exposures and asset quality to market participants. Similarly, the COVID-19 outbreak also triggered the publication of an ad-hoc impact study on the implementation of Basel III in the EU. The Authority also addressed the issue of consumer protection in the area of payments and financial crime risks in relation to the COVID-19 pandemic.

Please find the Report here.