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Date: 25-Jan-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 147/2021 of 23 April 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/133]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The Decision of the EEA Joint Committee No 147/2021 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Implementing Regulation (EU) 2020/429.
  • Commission Implementing Regulation (EU) 2020/429 amends Implementing Regulation (EU) No 680/2014, which lays down implementing technical standards regarding supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council.

Key Changes

  • The decision adds Commission Implementing Regulation (EU) 2020/429 of 14 February 2020 to point 14ab of Annex IX to the EEA Agreement.
  • Implementing Regulation (EU) 2020/429 is related to supervisory reporting of institutions.
  • The decision stipulates that the text of Implementing Regulation (EU) 2020/429 in Icelandic and Norwegian languages will be published in the EEA Supplement to the Official Journal of the European Union and shall be authentic.
  • The Decision entered into force on 24 April 2021, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Financial Institutions in EEA

  • Action Item: Monitor the publication of the Icelandic and Norwegian language versions of Implementing Regulation (EU) 2020/429 in the EEA Supplement to the Official Journal.

EEA Authorities

  • Action Item: Prepare for monitoring and enforcement of the new reporting standards.

Software Vendors

  • Action Item: Provide updated software versions to financial institutions in a timely manner.

Key Entities Referenced

EEA Joint Committee: The decision-making body responsible for the management of the EEA Agreement. Commission Implementing Regulation (EU) 2020/429: A regulation amending Implementing Regulation (EU) No 680/2014 regarding supervisory reporting of institutions. Implementing Regulation (EU) No 680/2014: Regulation laying down implementing technical standards with regard to supervisory reporting of institutions. Regulation (EU) No 575/2013: Regulation of the European Parliament and of the Council, which is the basis for the reporting requirements. EEA Agreement: The Agreement on the European Economic Area.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2024/133 25.1.2024 DECISION OF THE EEA JOINT COMMITTEE No 147/2021 of 23 April 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/133] THE EEA JOINT COMMITTEE, Having regard to the Agreement on the European Economic Area (“the EEA Agreement”), and in particular Article 98 thereof, Whereas: (1) Commission Implementing Regulation (EU) 2020/429 of 14 February 2020 amending Implementing Regulation (EU) No 680/2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council(1)is to be incorporated into the EEA Agreement. (2) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 The following indent is added in point 14ab (Commission Implementing Regulation (EU) No 680/2014) of Annex IX to the EEA Agreement: ‘- 32020 R 0429: Commission Implementing Regulation (EU) 2020/429 of 14 February 2020 (OJ L 96, 30.03.2020, p. 1).’ Article 2 The text of Implementing Regulation (EU) 2020/429 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic. Article 3 This Decision shall enter into force on 24 April 2021, provided that all the notifications under Article 103(1) of the EEA Agreement have been made.* Article 4 This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union. Done at Brussels, 23 April 2021. For the EEA Joint Committee The President Clara GANSLANDT (1) OJ L 96, 30.03.2020, p. 1. * No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/133/oj 1/1

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