On May 31, the European Banking Authority (EBA) updated its single banking rulebook questions and answers (Q&As) webpage and also published a paper that provides background and guidance on the Q&A process.

The EBA has stated that it believes that the Q&As will be a key feature in contributing to the single rulebook on banking regulation.  The Q&As will provide supervisory guidance and ensure a consistent and effective application of the banking regulatory framework.  The process envisages an ongoing dialogue between the EBA and the European Commission to ensure that responses to the questions submitted remain fully consistent with the EU legislative texts.  The EBA will only start processing questions on implementation of CRD IV or the related technical standards once the final legislative texts are published in the Official Journal of the European Union (OJ).  Webpage.  Paper.