HSBC 2014 Annual Report Download - page 95

HSBC BANK PLC
Report of the Directors: Capital Management (continued)
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group, in accordance with its resolution strategy. The
TLAC proposals are expected to be finalised in 2015 and
will then need to be implemented into national
legislation.
Other regulatory updates
In January 2015, the EBA published revised final draft
RTS on prudent valuation. Finalised requirements will
need to be adopted by the European Commission and
published in the EU’s official journal before coming into
effect.
In June 2014, the EBA and Basel Committee each issued
a consultation on the Pillar 3 disclosures. The final EBA
guidelines were issued on 23 December 2014 and entail
additional processes and governance around the Pillar 3
report, as well as semi-annual or quarterly disclosure of
key capital, ratio, risk-weighted asset, leverage and risk
model information, exceeding the scope of our current
disclosures. The guidelines are subject to
implementation by national supervisors and will enter
into force during 2015.
The final Basel standards on ‘Revised Pillar 3 disclosure
requirements’ were issued on 28 January 2015. They
mandate extensive use of standardised templates to
enhance comparability between banks’ disclosures as
well as requiring a considerable volume of disclosures to
be produced semi-annually, rather than annually as
hitherto. The revised framework calls for disclosure at
the latest from 2016 year-ends, concurrently with
financial reports.