Executive Summary:
EEA Joint Committee Decision No. 214/2022, adopted on July 8, 2022, amends Annex IX to the EEA Agreement to incorporate Commission Implementing Regulations (EU) 2021/637 and 2021/1018 regarding financial services. This decision also repeals several outdated regulations. The decision entered into force on July 9, 2022, pending notifications.
Key Points / Main Content:
* **Incorporation of New Regulations:**
* Commission Implementing Regulation (EU) 2021/637 on public disclosures by institutions is incorporated into the EEA Agreement, replacing point 14ag.
* Commission Implementing Regulation (EU) 2021/1018 amending disclosure standards for global systemic importance indicators is incorporated into the EEA Agreement.
* **Repeal of Old Regulations:**
* Commission Implementing Regulation (EU) No 1030/2014 is repealed.
* Commission Delegated Regulation (EU) 2015/1555 is repealed.
* Commission Implementing Regulation (EU) 2016/200 is repealed.
* Commission Delegated Regulation (EU) 2017/2295 is repealed.
* Commission Implementing Regulation (EU) 2016/818 is repealed due to obsolescence.
* **Language Authenticity:**
* The Icelandic and Norwegian language versions of Implementing Regulations (EU) 2021/637 and (EU) 2021/1018 are authentic and will be published in the EEA Supplement to the Official Journal.
* **Entry into Force and Publication:**
* The Decision entered into force on July 9, 2022, after all notifications under Article 103(1) of the EEA Agreement were made.
* The Decision will be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.
Impact Analysis:
* **Financial Institutions:**
* Impact: Must comply with the updated public disclosure requirements as per Regulations (EU) 2021/637 and (EU) 2021/1018.
* Action Required: Implement changes to reporting processes and disclosures to align with the new regulations.
* **EEA Member States:**
* Impact: Required to incorporate the changes into their national legal frameworks.
* Action Required: Ensure national laws and regulations are consistent with the updated EEA Agreement.
* **EEA Joint Committee:**
* Impact: Responsible for overseeing the implementation of the decision.
* Action Required: Monitor the adoption of the new regulations by member states and address any issues that arise.
Key Entities Referenced
EEA Joint Committee: The decision-making body responsible for adopting decisions related to the EEA Agreement.
EEA Agreement: Agreement on the European Economic Area
Regulation EU No 575/2013: Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms.
Commission Implementing Regulation EU 2021/637: Commission Implementing Regulation (EU) 2021/637 laying down implementing technical standards with regard to public disclosures by institutions.
Commission Implementing Regulation EU 2021/1018: Commission Implementing Regulation (EU) 2021/1018 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/637 as regards the disclosure of indicators of global systemic importance.
Commission Implementing Regulation EU No 1423/2013: Commission Implementing Regulation (EU) No 1423/2013 which is being repealed by Commission Implementing Regulation EU 2021/637.
Commission Delegated Regulation EU 2015/1555: Commission Delegated Regulation (EU) 2015/1555 which is being repealed by Implementing Regulation EU 2021/637.
Brussels: The city where the decision was made.
23.3.2023 EN Official Journal of the European Union L 85/25
DECISION OF THE EEA JOINT COMMITTEE No 214/2022
of 8 July 2022
amending Annex IX (Financial services) to the EEA Agreement [2023/631]
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) 2021/637 of 15 March 2021 laying down implementing technical
standards with regard to public disclosures by institutions of the information referred to in Titles II and III of Part
Eight of Regulation (EU) No 575/2013 of the European Parliament and of the Council and repealing Commission
Implementing Regulation (EU) No 1423/2013, Commission Delegated Regulation (EU) 2015/1555, Commission
Implementing Regulation (EU) 2016/200 and Commission Delegated Regulation (EU) 2017/2295(1) is to be
incorporated into the EEA Agreement.
(2) Commission Implementing Regulation (EU) 2021/1018 of 22 June 2021 amending the implementing technical
standards laid down in Implementing Regulation (EU) 2021/637 as regards the disclosure of indicators of global
systemic importance, and repealing Implementing Regulation (EU) No 1030/2014(2)is to be incorporated into the
EEA Agreement.
(3) Implementing Regulation (EU) 2021/637 repeals Commission Delegated Regulations (EU) 2015/1555(3) and
(EU) 2017/2295(4) and Commission Implementing Regulations (EU) No 1423/2013(5) and (EU) 2016/200(6),
which are incorporated into the EEA Agreement and which are consequently to be repealed under the EEA
Agreement.
(4) Implementing Regulation (EU) 2021/1018 repeals Commission Implementing Regulation (EU) No 1030/2014(7),
which is incorporated into the EEA Agreement and which is consequently to be repealed under the EEA Agreement.
(5) Commission Implementing Regulation (EU) 2016/818(8), which is incorporated into the EEA Agreement, has
become obsolete and is consequently to be repealed under the EEA Agreement.
(6) Annex IX to the EEA Agreement should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
Annex IX to the EEA Agreement shall be amended as follows:
1. The text of point 14ag (Commission Implementing Regulation (EU) No 1423/2013) is replaced by the following:
‘32021 R 0637: Commission Implementing Regulation (EU) 2021/637 of 15 March 2021laying down implementing
technical standards with regard to public disclosures by institutions of the information referred to in
Titles II and III of Part Eight of Regulation (EU) No 575/2013 of the European Parliament and of the
Council and repealing Commission Implementing Regulation (EU) No 1423/2013, Commission
Delegated Regulation (EU) 2015/1555, Commission Implementing Regulation (EU) 2016/200 and
Commission Delegated Regulation (EU) 2017/2295 (OJ L 136, 21.4.2021, p. 1), as amended by:
(1) OJ L 136, 21.4.2021, p. 1.
(2) OJ L 224, 24.6.2021, p. 6.
(3) OJ L 244, 19.9.2015, p. 1.
(4) OJ L 329, 13.12.2017, p. 6.
(5) OJ L 355, 31.12.2013, p. 60.
(6) OJ L 39, 16.2.2016, p. 5.
(7) OJ L 284, 30.9.2014, p. 14.
(8) OJ L 136, 25.5.2016, p. 4.L 85/26 EN Official Journal of the European Union 23.3.2023
— 32021 R 1018: Commission Implementing Regulation (EU) 2021/1018 of 22 June 2021
(OJ L 224, 24.6.2021, p. 6).’
2. The texts of points 14ar (Commission Implementing Regulation (EU) No 1030/2014), 14av (Commission Delegated
Regulation (EU) 2015/1555), 14az (Commission Implementing Regulation (EU) 2016/200) and 14azn (Commission
Delegated Regulation (EU) 2017/2295) are deleted.
Article 2
The texts of Implementing Regulations (EU) 2021/637 and (EU) 2021/1018 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 9 July 2022, 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, 8 July 2022.
For the EEA Joint Committee
The President
Kristján Andri STEFÁNSSON
(*) No constitutional requirements indicated.