On Mar. 27, 2025, GE BaFin issued a general ruling on diversity notifications.
Specifically, concerns EBA guidelines on comparison of measures to promote diversity, including diversity strategies and gender pay gap, pursuant to CRD and IFD.
Target group are CRR credit institutions that are significant according to S1.3c KWG.
Recalls national supervisory authorities must collect information specified in guidelines from participating entities by Apr. 30, 2025, and submit it to EBA by Jun. 15, 2025.
Therefore, GE BaFin issued the general administrative act after consultation 03/2025.
Legislative process for amending KWG, AnzV could not be completed by reporting deadlines stipulated in EBA guidelines so general administrative order was necessary.
GE BaFin will inform other participating entities individually about their participation.
Participating entities must submit their reports in Extensible Business Reporting Language (XBRL); information on submission available in GE Bundesbank website.
GE BaFin has put the DraftGeneral ruling on diversity notifications as of the reporting date of 31 December 2024 out for consultation, following new guidelines from EBA.
Consultation concerns guidelines of EBA on comparing measures to promote diversity, including diversity strategies and the gender pay gap, in accordance with EU Directives 2013/36 and 2019/2034, as set out in EBA Guideline EBA/GL/2023/08, Dec. 18, 2023.
The target group of the guidelines are all of the current CRR credit institutions that are significant according to Section 1 Paragraph 3c of the German Banking Act (KWG).
All national supervisory authorities must collect information specified in the guidelines from participating institutions by Apr. 30, 2025 and submit it to EBA by Jun. 15, 2025.
Article 91 paragraph 11 of EU Directive 2013/36 requires supervisory authorities to collect data on diversity in institutions, and guidelines specify the data to be collected.
They are being applied for the first time during 2025 and then in future all the selected institutions will have to submit the report every three years, via reports to GE BaFin.
Legislative process for adapting the German Banking Act (KWG) and the Notification Ordinance (AnzV) could not be completed in reporting deadlines in the EBA guidelines.
A separate general decree is therefore necessary to meet all of the legal requirements. GE BaFin will inform all of the relevant institutions individually about their participation.
Effectiveness
The consultation will remain open for comments from stakeholder until Feb. 21, 2025.
Mar. 2025 General Ruling
On Mar. 27, 2025, GE BaFin issued a general ruling on diversity notifications.
Specifically, concerns EBA guidelines on comparison of measures to promote diversity, including diversity strategies and gender pay gap, pursuant to CRD and IFD.
Target group are CRR credit institutions that are significant according to S1.3c KWG.
Recalls national supervisory authorities must collect information specified in guidelines from participating entities by Apr. 30, 2025, and submit it to EBA by Jun. 15, 2025.
Therefore, GE BaFin issued the general administrative act after consultation 03/2025.
Legislative process for amending KWG, AnzV could not be completed by reporting deadlines stipulated in EBA guidelines so general administrative order was necessary.
GE BaFin will inform other participating entities individually about their participation.
Participating entities must submit their reports in Extensible Business Reporting Language (XBRL); information on submission available in GE Bundesbank website.
Regulators
GE BaFin
Entity Types
Bank; SIFI
Reference
RF, PR, 3/27/2025; CP 03/2025, PR BA 51-FR 2123/00013#00008, 1/31/2025; EBA/GL/2023/08; CRD/CRR Dir 2013/36, Reg 575/2013; CRR 2 Reg 2019/876; IFD/IFR Dir 2019/2034, Reg 2019/2033; KWG (GE); AnzV (GE); ESG
Functions
Compliance; Financial; HR; Human Rights; Operations; Reporting; Risk; Social
