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Recital 3

Recital 3

(3)Pursuant to Article 434a of Regulation (EU) No 575/2013, the draft implementing technical standards to be developed by the European Banking Authority (EBA) in order to establish uniform disclosure formats are to seek to maintain consistency of disclosure formats with international standards on disclosures in order to facilitate comparability of information. The Basel Committee on Banking Supervision (BCBS) published in December 2018 updated Pillar 3 disclosure requirements, including requirements on TLAC disclosures. The disclosure formats and associated instructions set out in this Regulation should therefore be consistent with those updated disclosure requirements of the BCBS.

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