Recital 4

(4)The European Banking Authority (‘EBA’) submitted to the Commission draft regulatory technical standards. However, in accordance with the procedure set out in Article 10 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council ² , the Commission informed the EBA about its intention not to endorse those draft regulatory technical standards, explaining the reasons for the non endorsement. The EBA resubmitted the draft regulatory technical standards in the form of a formal opinion accepting the Commission's proposed approach strictly based on the BCBS's Historical Look Back Approach.