On May 11, 2016, the EBA published a letter from it to the European Commission relating to the Calls for Advice on various aspects of the revised international regulatory capital requirements. The Commission has requested advice from the EBA on the revision of the own funds requirements for market risk, counterparty credit risk, exposures to CCPs, large exposures and the net stable funding requirement.

The EBA has begun work on the advice requested. However, the EBA does not think that the deadlines for the advice are feasible. The EBA sets out the dates by which it will be able to provide certain aspects of the advice requested. The EBA considers that it will be able to provide some analysis and information by June 1, 2016 and other points by November 1, 2016. However, the EBA is experiencing difficulties accessing the market risk data of the Basel Committee and the analysis on firms' exposures to CCPs will be impossible to provide by June 1, 2016, because the EU data does not include sufficiently granular information and the Basel data is no longer considered representative.

The EBA has also been asked to provide an overview of possible errors and inconsistencies in the CRR using the Single Rulebook Q&A tool. The EBA states that it will concentrate its efforts on those areas of CRR that would be subject to review by the end of 2016.

The EBA's letter to the Commission is available at: http://www.eba.europa.eu/documents/10180/1466081/%28EBA+2016+D+697%29%20Letter +to+O.+Guersent%2C%20DG+FISMA+re+Calls+for+Advice+to+assist+Commission+revision+-+signed.pdf/014cd6d6-afc2-4409-b704-a9237f07ff3a.

The Commission's request for advice on the NSFR is available at: http://www.eba.europa.eu/documents/10180/1162591/Call+for+advice.pdf , the Commission's request for advice oncounterparty credit risk is available at: http://www.eba.europa.eu/documents/10180/1466081/%28EBA-2016-E668%29%20Guersent%2CDG+FISMA+re+CfA+Com+implement.+counterparty+credit+risk%2CAres% 282016%291900009.pdf/f26b23a2-2ddb-46f9-9cfc-1f2eba416bd3 , the Commission's request for advice on exposures to CCPs is available at: http://www.eba.europa.eu/documents/10180/1466081/%28EBA-2016-E667%29%20Guersent%2CDG+FISMA+re+CfA+COM+review+of+OF+req+for+exp+to+CCPs+%28Ares 1899567%29.pdf/be14a685-e650-49b2-87f0-0a9d32167ba0  and the Commission's request for an overview of errors and inconsistences is available at: http://www.eba.europa.eu/documents/10180/1466081/%28EBA-2016-E677%29%20Letter+from+Mario+Nava%2C%20FISMA+to+I.+Vaillant+re+QA+tool+for+CRR+and+CRD %2C%20Ares%2816%291421682.pdf/ac8bfacc-e0c0-4dfc-b7e1-551d0ea773f9.

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