Commission Implementing Regulation (EU) 2023/1718 of 8 September 2023 amending the implementing technical standards laid down in Implementing Regulation (EU) 2015/2197 with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (1), and in particular Article 354(3), third subparagraph, thereof,

Whereas:

(1) To ensure that the currency pairs referred to in the Annex to Commission Implementing Regulation (EU) 2015/2197 (2) reflect the actual correlation between the relevant currencies, it is necessary to update the list of closely correlated currencies, based on recent data. Those data refer to 31 March 2023 as the end date for calculating the three and five year data series required to assess the currency pairs in accordance with Regulation (EU) No 575/2013.

(2) Implementing Regulation (EU) 2015/2197 should therefore be amended accordingly.

(3) This Regulation is based on the draft implementing technical standards submitted to the Commission by the European Banking Authority (EBA).

(4) The amendments to Implementing Regulation (EU) 2015/2197 do not involve significant changes in substantive terms, but merely apply the methodology already established in that Regulation to updated data series. In accordance with Article 15(1), second subparagraph, of Regulation (EU) No 1093/2010 of the European Parliament and of the Council (3), EBA has therefore neither conducted an open public consultation on the draft implementing technical standards on which this Regulation is based, nor analysed the potential related costs and benefits, considering that such a consultation or analysis would be highly disproportionate in relation to the scope and impact of the draft implementing technical standards concerned. EBA requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010,

HAS ADOPTED THIS REGULATION:

Article 1

The Annex to Implementing Regulation (EU) 2015/2197 is replaced by the text in the Annex to this Regulation.

Article 2

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 8 September 2023.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 176, 27.6.2013, p. 1.

(2) Commission Implementing Regulation (EU) 2015/2197 of 27 November 2015 laying down implementing technical standards with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 313, 28.11.2015, p. 30).

(3) Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).