European Banking Authority updates third-country equivalence assessment methodology and moves questionnaires to a secure online platform

The European Banking Authority published an updated methodology for assessing the regulatory and supervisory frameworks of non-EU countries for equivalence purposes, reflecting amendments introduced by the revised Capital Requirements Regulation and Capital Requirements Directive. The methodology continues to be based on a two-step questionnaire process, starting with a preliminary screening of whether key requirements and principles are in place, followed by a more detailed assessment that maps EU provisions against those of the non-EU jurisdiction. The second-step questionnaire has been streamlined, and both questionnaires have been migrated to an online platform so jurisdictions can submit responses in a secured digital format. Non-EU jurisdictions can request dedicated access to the platform. The methodology supports the European Commission’s preparation of equivalence decisions where the EBA is asked for advice or required to contribute under the relevant legislative acts.