2015 discharge: European Banking Authority (EBA)

PURPOSE: to grant discharge to the European Banking Authority (EBA) for the financial year 2015.

NON-LEGISLATIVE ACT: Decision (EU) 2017/1654 of the European Parliament on discharge in respect of the implementation of the budget of the European Banking Authority for the financial year 2015.

CONTENT: with the present decision, the European Parliament grants discharge to the Executive Director of the European Banking Authority for the implementation of its budget for the financial year 2015.

This decision is in line with the European Parliament's resolution adopted on 27 April 2017 and comprises a series of observations that form an integral part of the discharge decision (please refer to the summary of the opinion of 27 April 2017).

Amongst Parliament’s main observations in the resolution accompanying the discharge decision, the latter acknowledged furthermore that the euro lost significant value against the pound sterling over the course of the year, forcing the Authority to request an amending budget of EUR 1.9 million, which was adopted in August 2015, in order to enable it to meet its financial obligations.

Parliament also stressed that the Authority should establish a secure channel for whistleblowers in the framework of its action plan for the years to come.

Effects of Brexit: Parliament welcomed the detailed information provided by the Authority to the discharge authority on its current contractual commitments and liabilities linked to its physical presence in the UK. It noted that, excluding the rental contract, the Authority's maximum potential contractual commitment or liability is EUR 33.16 million, but that there would be no financial penalties for early termination of these contracts if the applicable notice periods of between one and three months are observed.

It expressed concern, however, regarding the potential operational and business continuity risks and related costs of a relocation decision, such as the extra procurement work that may need to be carried out at short notice if the timing does not provide for a sufficient transition to a new location.