UniCredit notes the announcements made today by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the information of the 2020 EU-wide Transparency Exercise and fulfilment of the EBA Board of Supervisors' decision.
Background 2020 EU-wide Transparency Exercise
The EBA Board of Supervisors approved the package for the 2020 EU-wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual transparency exercise will be based solely on COREP/FINREP data on the form and scope to assure a sufficient and appropriate level of information to market participants.
The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. Banks had the chance to correct any errors detected and to resubmit correct data through the regular supervisory reporting channels, and to add specific information as required for further clarify data.
The 2020 Transparency exercise covers two reference dates: 31 March 2020 and 30 June 2020.
Milan, 11 December 2020
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