06 January 2012
EBA Guidelines on AMA extensions and changes (GL45)
The European Banking Authority (EBA) has today published its Guidelines on AMA extensions and changes (GL45). The aim is to harmonise processes regarding the supervisory approval of such changes and to assist institutions using the Advanced Measurement Approach (AMA) to further develop their AMA models.
The Guidelines provide institutions with guidance on how to communicate AMA extensions and changes to the competent authorities and on how to define internal policies for AMA changes in line with supervisory expectations. The Guidelines do not contain requirements regarding the modelling or risk management of institutions.
Changes to the AMA have to be categorized according to their severity as significant, major or minor change. While extensions and significant changes require a prior approval, major and minor changes need to be notified to the competent authority. Supervisors will review the AMA change policies and ultimately approve or object to any proposed change or extension. The Annex to these Guidelines elaborates on the criteria for the classification of extensions and changes in the different categories. The EBA expects that the EU competent authorities perform all tasks to implement the Guidelines on AMA changes by 6 March 2012. After that date, members should ensure that institutions comply with them effectively.
27 September 2011
EBA Guidelines on Internal Governance (GL44)
The European Banking Authority (EBA) has published today its Guidelines on Internal Governance aiming at enhancing and consolidating supervisory expectations and to ultimately improving the sound implementation of internal governance arrangements. Effective internal governance is fundamental if individual institutions and the banking system as a whole are to operate well.
The EBA Internal Governance Guidelines repeal the 2010 High Level Principles for Risk Management, the 2009 High Level Principles for Remuneration Policies and Section 2.1 of the 2006 Guidelines on the Application of the Supervisory Review Process under Pillar 2.
The EBA expects competent authorities to implement the Guidelines on Internal Governance and to incorporate them within their supervisory procedures by 31 March 2012. As of that date, competent authorities should ensure that institutions effectively comply with the new Guidelines.
28 April 2011
The EBA publishes a revision of the common reporting framework
The European Banking Authority (EBA) published today a revision of its framework on Common Reporting (COREP rev3). The changes to the COREP rev3 templates take account of the CRD III amendments (Directive 2010/76/EU) of the European Parliament and of the Council of 24 November 2010.
These changes will be applicable as of 31 December 2011.
31 December 2010
CEBS Guidelines on the application of Article 122a of the Capital Requirements Directive (CRD)
The Committee of European Banking Supervisors (CEBS) has today published its final guidelines on the application of Article 122a of the Capital Requirements Directive (CRD).
Article 122a of the CRD provides new requirements to be fulfilled by credit institutions when acting in a particular capacity, such as originator or sponsor, and also when investing in securitisations. These include retention on an on-going basis of a material net economic interest of not less than 5% (so called “skin in the game”), due diligence and disclosure.
Following the amendments made to the CRD relating to securitisations, CEBS is required to issue guidelines ensuring convergence of supervisory practices with regard to the application of Article 122a. In particular, guidance is required on the implementation of the retention clause by the originator, the sponsor or original lender and on the due diligence and risk management practices credit institutions are asked to carry out when investing in securitisation positions.
Besides fostering a common understanding among the competent authorities across the EEA on the implementation and application of Article 122a, the current guidelines provide clarity as well as greater transparency for market participants in order to assist compliance by credit institutions with the relevant requirements of the Directive. In particular, CEBS provides an updated framework for competent authorities to apply an additional risk weight for infringements of the provisions of Article 122a.
In delivering its guidelines, CEBS has benefited from the views gathered from market participants through the responses to the public consultation (CP40) which ended on 1 October 2010, and through a public hearing held on 22 July 2010.
CEBS expects its Members to adopt the guidelines into their national supervisory framework and apply them from 1 January 2011, that is, when the new Directive provisions come into force.
22 December 2010
CEBS’s Guidelines for the joint assessment and joint decision regarding the capital adequacy of cross-border groups
CEBS has today published the final text of its Guidelines for the joint assessment of the elements covered by the supervisory review and evaluation process and joint decision regarding the capital adequacy of cross-border groups (GL 39). CEBS considers that these Guidelines will be very helpful to EEA supervisory authorities co-operating in supervisory colleges to meet the requirements of the revised Capital Requirements Directive (CRD), as well as for promoting convergent supervisory practices across colleges. The Guidelines should thus significantly foster CEBS’s objectives of promoting the effective and efficient functioning of colleges and enhancing the supervision of cross-border banking groups.
As the revised CRD enters into force on 31 December 2010, the relevant members of the colleges for EEA headquartered banking groups will be expected to reach joint decisions on the risk based capital adequacy before the end of 2011. CEBS expects its members to fully implement these Guidelines by 31 March 2011, so as to allow colleges to use the Guidelines in their assessments of cross-border banking groups’ capital adequacy.
10 December 2010
CEBS Guidelines on Remuneration Policies and Practices
The Committee of European Banking Supervisors (CEBS) has published today its final Guidelines on Remuneration Policies and Practices.
In revising the Guidelines, CEBS benefited from the views gathered from a wide spectrum of market participants and from academia. Input was provided through 39 responses to a public consultation and through a public hearing held at CEBS premises. Furthermore, the Committee of European Securities Regulators (CESR) rendered an opinion which placed particular focus on the scope of the guidelines and on the proportionality principle vis-à-vis firms providing investment services.
The final Guidelines shall be implemented as from 1 January 2011 in line with the entry into force of CRD III. CEBS has planned to carry out an implementation study in the fourth quarter of 2011 also in response to the concerns raised with regard to the convergent application of the CRD and the guidelines within the EEA.
30 November 2010
Revised guidelines on the recognition of ECAIs
The Committee of European Banking Supervisors (CEBS) has today published its revised Guidelines on the recognition of External Credit Assessment Institutions (ECAIs), which were first released on 20 January 2006.
In reviewing its guidelines, CEBS has benefited from the views gathered from market participants through the responses to the public consultation (CP37) which ended on 9 April 2010.
The amendments to Articles 81(2) and 97(2) of the CRD will have to be applied from 31 December 2010. Therefore CEBS expects its members to apply the revised guidelines at the same time as the amended Articles will come into force.
18 November 2010
CEBS guidelines on revised Article 3 of Directive 2006/48/EC
The Committee of European Banking Supervisors (CEBS) has today published its guidelines on revised Article 3 of Directive 2006/48/EC (hereinafter “Article 3”).
The guidelines take account of the feedback received following CEBS’s publication for consultation of its draft proposals (CP41) on the application of Article 3, as well as of the technical input and comments provided by industry experts appointed by the European Association of Co-operative Banks (EACB).
27 October 2010
CEBS guidelines on liquidity cost benefit allocation
The Committee of European Banking Supervisors (CEBS) has published today its guidelines on liquidity cost benefit allocation. The draft guidelines were presented for public consultation with the consultation period ending 10 June 2010. During this period a public hearing was also held. A summary of the
industry’s responses to the consultation paper (
CP36) is published in the feedback document. Based on the analyses provided in this document, the guidelines have not substantially changed. In particular, the five main guidelines have been kept unchanged.
12 October 2010
CEBS Guidelines on the management of operational risks in
market-related activities
The Committee of European Banking Supervisors (CEBS) has published today its guidelines on the management of operational risk in market-related activities.
02 September 2010
CEBS revised Guidelines on the management of concentration risk under the supervisory review process
The Committee of European Banking Supervisors (CEBS) today publishes the final text of its revised Guidelines on the management of concentration risk under the supervisory review process taking into the account the results of the earlier public consultation, which ran from December 2009 to March 2010.
The revised Guidelines replace the earlier version of the Guidelines on technical aspects of the management of concentration risk under the supervisory review process published on 14 December 2006 and complement the principles set out in the
CEBS’s Guidelines on the application of the supervisory review process (GL03).
26 August 2010
CEBS revised Guidelines on stress testing
The Committee of European Banking Supervisors (CEBS) today publishes the final text of its revised Guidelines on stress testing which takes into the account the results of the earlier public consultation which run from December 2009 to March 2010.
The revised guidelines replace the Guidelines on technical aspects of stress testing under the supervisory review process that were published on 14 December 2006 and complement the principles set out in
CEBS’s Guidelines on the Application of the Supervisory Review Process under Pillar 2.
28 July 2010
CEBS Guidelines on Article 106(2) (c) and (d) of Directive 2006/48/EC recast
The Committee of European Banking Supervisors (CEBS) today publishes its implementation guidelines on Article 106(2) (c) and (d) of Directive 2006/48/EC (Capital Requirements Directive) as amended by Directive 2009/111/EC.
15 June 2010
CEBS Guidelines for the operational functioning of colleges
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines for the operational functioning of colleges.
The revised Capital Requirements Directive (CRD) requires the establishment of supervisory colleges as an instrument for stronger coordination and cooperation whereby competent authorities reach agreement on key supervisory tasks. The colleges are expected to facilitate the handling of ongoing supervision and also to play a role in both the preparation for and handling of emergency situations.
14 June 2010
CEBS Guidelines on instruments referred to in Article 57(a) of the CRD
The Committee of European Banking Supervisors (CEBS) today publishes its implementation guidelines on capital instruments.
The revised Capital Requirements Directive (CRD) introduces explicit rules for the treatment of instruments eligible as capital and, in particular, requirements for their inclusion in institutions’ original own funds without limit. The amendments will need to be transposed into Member States’ national law by 31 October 2010 and will be applied from 31 December 2010.
26 April 2010
CEBS Principles for disclosures in times of stress
(Lessons learned from the financial crisis)
The Committee of European Banking Supervisors (CEBS) today publishes its Principles for disclosures in times of stress intended to guide financial institutions in the preparation of public disclosures made to conform with existing disclosure requirements or recommendations or on an ad hoc basis, incorporating the lessons learnt from the financial crisis.
16 February 2010
CEBS High Level Principles for Risk Management
The Committee of European Banking Supervisors (CEBS) today publishes its high level principles for risk management. These principles should be considered both by institutions (as part of the ICAAP) and supervisors (as part of the SREP) within the supervisory review framework under Pillar 2.
The High Level Principles for Risk Management were repealed by the EBA Internal Governance Guidelines, published on 27 September 2011.
28 January 2010
CEBS Revised Guidelines on Supervisory Disclosure
The Committee of European Banking Supervisors (CEBS) today publishes its revised Guidelines on Supervisory Disclosure. CEBS has developed a web-based framework for supervisory disclosure which has been implemented at both EU and national levels since early 2007. The aim of supervisory disclosures is to make information related to prudential rules and supervisory criteria available to all interested parties, including credit institutions, investment firms, other market participants, other supervisors and consumers. The framework for supervisory disclosure is intended to provide information without interpreting or validating it.
06 January 2010
CEBS publishes revised guidelines on common reporting
CEBS publishes today the revised framework on Common Reporting (COREP). The COREP templates have been amended to incorporate changes of the CRD (directives 2009/27/EC and 2009/83/EC) as well as CRD II amendments (directive 2009/111/EC) and will be applicable by 31 December 2010.
22 December 2009
CEBS Guidelines on operational risk mitigation techniques
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines on operational risk mitigation techniques following a three-month public consultation period and a public hearing. These guidelines, which build on the provisions of the Capital Requirements Directive (CRD) and CEBS’s Guidelines on the Implementation, Validation and Assessment of AMA and IRB Approaches (
Implementation Guidelines – GL10) provide supervisory expectations and clarification on the recognition of risk transfer instruments within the AMA.
The “Compendium of supplementary guidelines on implementation issues of operational risk” (initially published 8 September 2010) has been updated by integrating the guidelines on operational risk mitigation techniques.
15 December 2009
CEBS Revised Guidelines on Financial Reporting
CEBS publishes today its revised guidelines on financial reporting (FINREPrev2). The revision of the guidelines is part of CEBS’s effort to streamline reporting requirements for supervised institutions, consistent with the recommendations of the Financial Services Committee Report on Financial Supervision (the Franck Report) and the White Paper of the Commission on Financial Services Policy -2005-2010.
11 December 2009
CEBS Guidelines on the revised large exposures regime
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines in relation to two specific aspects of the revised large exposures regime that has been included in the amended Capital Requirements Directive (CRD). The amendments will have to be transposed into Member States’ national law by 31 October 2010 and will be applied from 31 December 2010.
11 December 2009
CEBS Guidelines on Common Reporting of Large Exposures
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines in relation to the common reporting of large exposures.
10 December 2009
CEBS Guidelines on Hybrid Capital Instruments
The Committee of European Banking Supervisors (CEBS) today publishes its implementation guidelines on hybrid capital instruments.
This work responds to the request in Article 63(a) of the current revised Capital Requirements Directive (CRD) that calls on CEBS to elaborate guidelines for the convergence of supervisory practices with regard to hybrid instruments. By setting out minimum requirements for the inclusion of hybrid instruments in original own funds, the quality of own funds is enhanced.
09 December 2009
CEBS Guidelines on Liquidity Buffers
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines on liquidity buffers following a four-month public consultation period and a public hearing. These guidelines, which build on
CEBS’s Recommendations on Liquidity Risk Management, elaborate upon the appropriate size and composition of liquidity buffers to enable banks to withstand a liquidity stress for a period of at least one month without changing their business models.
08 September 2009
CEBS Compendium of Supplementary Guidelines on Implementation Issues of Operational Risk
The Committee of European Banking Supervisors (CEBS) today publishes its “Compendium of supplementary guidelines on implementation issues of operational risk” (the Compendium) and a feedback document following a three-month consultation period on CP21 and a related public hearing.
27 August 2009
CEBS Guidelines on Passport Notifications
The Committee of European Banking Supervisors (CEBS) today publishes its passporting guidelines following a three month public consultation.
21 July 2009
CEBS Revised Peer Review Methodology
The Committee of European Banking Supervisors (CEBS) has published today its revised Peer Review (PR) Methodology that was originally initiated in 2007.
20 April 2009
CEBS Principles on Remuneration
The Committee of European Banking Supervisors (CEBS) today publishes a finalised set of principles for remuneration policies following a one-month public consultation period and a public hearing. The principles address key aspects of well functioning remuneration policies and thus support the sound operation of banking institutions.
The High Level Principles for Remuneration Policies were repealed by the EBA Internal Governance Guidelines, published on 27 September 2011.
18 December 2008
CEBS, CEIOPS and CESR’s Joint Guidelines for the Assessment of Mergers and Acquisitions
The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) today publish their guidelines for the prudential assessment of acquisitions and increases in holdings in the financial sector as required by Directive 2007/44/EC.
05 August 2008
CEBS Amends its Consultation Practices
CEBS amended the Public Statement of Consultation Practices, which was submitted for a three-month public consultation on 19 March 2007. This amendment foresees the procedures to be followed in case of a limited or drafting amendment to CEBS products.
11 July 2008
CEBS Standardises COREP Reporting Dates
CEBS today publishes an amendment to the Guidelines on Common Reporting (COREP) on the standardisation of remittance dates and reporting frequencies for COREP reporting in the European Union. This amendment is CEBS’s response to the industry and ECOFIN requests for more harmonization in the supervisory reporting in the European Union. This amendment will be implemented in 2012.
30 April 2008
The 3L3 Committees Publish Revised Impact Assessment Guidelines
The Committee of European Banking Supervisors (CEBS) together with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) are publishing today as a practical tool to help ensure the effective use of Impact Assessment (IA) within the three Lamfalussy Level 3 Committees (CESR, CEBS and CEIOPS). They are consistent with the European Commission's approach to Better Regulation and, specifically, with the EC's own IA Guidelines, though adapted to reflect the more specialised nature of financial services policy and the specific circumstances in which it is developed within the EU.
The scope of the Committees' IA work will take account of IA work to be conducted by the Commission or others. This is so as to avoid unnecessary duplication of effort and to ensure that the exercise adds value. The scope of the Committees' IA work will take account of IA work to be conducted by the Commission or others. This is so as to avoid unnecessary duplication of effort and to ensure that the exercise adds value.
15 October 2007
CEBS Adopts its Peer Review Mechanism
The Committee of European Banking Supervisors (CEBS) is publishing today the Protocol and Methodology for a peer review mechanism. A group dedicated to conducting peer reviews – the Review Panel - is being set up and CEBS is now implementing ‘peer review’ as a powerful tool for convergence.
08 October 2007
CEBS Publishes an Assessment of Convergence on Supervisory Reporting
CEBS has published today a study to assess the level of convergence achieved by the introduction of the CEBS Guidelines on Reporting, approved in December 2005 and January 2006 with the objective of building a harmonised prudential financial reporting framework based on IAS/IFRS and a common reporting system of the new solvency ratio within the European Union . The aim of this study is to provide a first overview of the progress made in this area; in addition, it has helped to identify areas where further convergence of supervisory practices should be possible.
As a further contribution to enhance the dialogue with the banking community in this respect, the report will be presented and discussed at a public hearing organised by CEBS on 26 October 2007 about future developments on supervisory reporting. For more information regarding the public hearing, As a further contribution to enhance the dialogue with the banking community in this respect, the report will be presented and discussed at a public hearing organised by CEBS on 26 October 2007 about future developments on supervisory reporting.
05 October 2007
CEBS Publishes an Analytical Report on Prudential Filters
CEBS is publishing today the findings of an analysis it has carried out with regard to prudential filters.
In December 2004 CEBS issued its guidelines on the use of
prudential filters for regulatory capital. The objective of these prudential filters is to maintain the definition and quality of regulatory capital for institutions using IFRS for prudential reporting. The analytical report issued today aims to assess CEBS' members compliance with these guidelines and to present their impact in quantitative terms on regulatory own funds. It also provides a basis for discussion on the possible scope for further convergence of these filters. for regulatory capital. The objective of these prudential filters is to maintain the definition and quality of regulatory capital for institutions using IFRS for prudential reporting. The analytical report issued today aims to assess CEBS' members compliance with these guidelines and to present their impact in quantitative terms on regulatory own funds. It also provides a basis for discussion on the possible scope for further convergence of these filters.
CEBS will present and discuss the report and its conclusions at a public hearing scheduled for 16 October. For more information regarding the hearing, CEBS will present and discuss the report and its conclusions at a public hearing scheduled for 16 October.
25 September 2007
CEBS Publishes Mediation Protocol Between Banking Supervisors
The Committee of European Banking Supervisors (CEBS) is publishing today a Protocol for a mediation mechanism, after having submitted it for public consultation on 19 March 2007.
The objective is to facilitate and speed up the supervisory procedures set out in the Capital Requirements Directive and to support the application of the pre-existing cooperation tools among supervisors such as the CEBS Guidelines on validation and on home/host cooperation. CEBS reiterates its commitment to using all tools at its disposal, including mediation, to achieve further convergence and reduce the supervisory burden of cross-border banking groups. The objective is to facilitate and speed up the supervisory procedures set out in the Capital Requirements Directive and to support the application of the pre-existing cooperation tools among supervisors such as the CEBS Guidelines on validation and on home/host cooperation. CEBS reiterates its commitment to using all tools at its disposal, including mediation, to achieve further convergence and reduce the supervisory burden of cross-border banking groups.
24 July 2007
CEBS Publishes Approved Amendments to the Guidelines on Financial Reporting
The Committee of European Banking Supervisors (CEBS) is publishing today the approved amendments to the Guidelines on Financial Reporting (FINREP) which were submitted for public consultation on 20 April 2007 (
CP06rev).
During the consultation period, CEBS has received a number of comments from industry participants which have improved the quality and the accuracy of the proposals (
CP06rev_responses).
CEBS welcomes the constructive contributions made by respondents and is open to continuing the dialogue with the industry to improve the Guidelines along those lines. CEBS will monitor future developments in the standards to check whether they have an impact on the current version of the Guidelines.
15 December 2006
CEBS Publishes Recast Version of Guidelines on Financial Reporting
The Committee of European Banking Supervisors (CEBS) is today publishing a new release of the Guidelines on Financial Reporting (FINREP). These guidelines are intended to be used by credit institutions when preparing prudential reports to be sent to any European Union Supervisory Authority according to the IAS/IFRS endorsed by the European Commission.
14 December 2006
CEBS Publishes Additional Technical Guidelines on Concentration Risk
The Committee of European Banking Supervisors (CEBS) is publishing the final technical guidelines on application of the supervisory review process in relation to concentration risk under Pillar 2.
14 December 2006
CEBS Publishes Guidelines on Outsourcing
The Committee of European Banking Supervisors (CEBS) is publishing today the final set of guidelines on outsourcing of credit institutions' business activities. The aim of the CEBS guidelines is to promote an appropriate level of convergence in supervisory approaches to outsourcing. The proposed guidelines are based on current supervisory and market practices and also take into account international and European developments in the field outsourcing.
14 December 2006
CEBS Publishes Additional Guidelines on Stress Testing
The Committee of European Banking Supervisors (CEBS) is today publishing additional technical guidance to complement the CEBS guidelines on the Supervisory Review Process issued in January 2006 in the area of stress testing.
16 October 2006
CEBS Publishes Recast Version of the Guidelines on Common Reporting
The Committee of European Banking Supervisors (CEBS) is today publishing a new release of the Guidelines on Common Reporting (COREP). These guidelines are intended to be used by credit institutions and investment firms when preparing prudential reports to be sent to any European Union Supervisory Authority according to the new capital framework established in the new capital regulation. The amendments are mainly due to changes in the numbering of the recast Directives 2006/48/EC and 2006/49/EC, as well as to some wording improvements.
03 October 2006
CEBS Technical Guideline on Interest Rate Risk in the Banking Book
CEBS has published the final technical guidance on application of the supervisory review process in relation to interest rate risk in the banking book.
04 April 2006
CEBS Guidelines on Validation
CEBS has published guidelines on the implementation, validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms for the calculation of their capital requirements.
25 January 2006
CEBS Guidelines on Supervisory Cooperation for Cross-Border Banking and Investment Firm Groups
CEBS has published guidelines on cooperation between supervisors of EU banking groups and investment firms. The guidelines are designed to promote an efficient supervisory framework for groups that operate in several EU jurisdictions, by enhancing the practical operational networking of national supervisors.
25 January 2006
CEBS Guidelines on Supervisory Review Process
CEBS has published guidelines on the Application of the Supervisory Review Process under Pillar 2. The supervisory review process is a central component of the new Capital Requirements Directive. It is designed to enhance the link between the risks taken on by credit institutions and investment firms, their management of those risks, and the capital they hold.
Section 2.1 of the Guidelines on the Application of the Supervisory Review Process under Pillar 2 was repealed by the EBA Internal Governance Guidelines, published on 27 September 2011.
20 January 2006
CEBS Guidelines on the Recognition of External Credit Assessment Institutions
CEBS has published its final guidelines for a common approach to the recognition of External Credit Assessment Institutions (ECAIs) under the Capital Requirements Directive (CRD).
13 January 2006
CEBS Guidelines on Common Reporting (see recast version 16 October 2006)
CEBS has published guidelines on a common reporting framework (COREP) to be used by credit institutions and investment firms when they report their solvency ratio to supervisory authorities under the Capital Requirements Directive.
16 December 2005
CEBS Guidelines on Financial Reporting
CEBS has published guidelines establishing a standardised financial reporting framework (FINREP) for credit institutions operating in the EU. This framework will enable credit institutions to use the same standardised data formats and data definitions for prudential reporting in all countries where the framework will be applied.
CEBS believes that this will reduce the reporting burden for credit institutions that operate cross-border, and lower barriers to the development of an efficient internal market in financial services.
01 November 2005
CEBS Guidelines on Supervisory Disclosure
CEBS guidelines for supervisory authorities on increased transparency and public disclosure will allow easy access to qualitative information on the laws and rules adopted at the national level and on the ways in which Member States have exercised the options and national discretions, as well as to statistical data on the implementation of the Directive. The CEBS guidelines are required by the Capital Requirements Directive - the EU legislation for a new capital adequacy framework for credit institutions and investment firms.
21 December 2004
CEBS Guidelines on Prudential Filters for Regulatory Capital
From the beginning of 2005 European listed companies, at the minimum, will have to publish consolidated financial statements based on the new International Financial Reporting Standards (IFRS) rules. CEBS has developed prudential filters for regulatory capital and is now issuing the guidelines. The objective of the guidelines is to maintain the current definition - and quality - of regulatory capital.