CEBS and CEIOPS joint report on the impact of the differences in sectoral rules on the calculation of own funds of financial conglomerates

Date: 30/08/2007

The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today a report on the possible impact of the differences in the definition of capital instruments provided for by the European banking, insurance and securities regulation, for the supervision of a conglomerate. This assessment has been produced by the Interim Working Committee on Financial Conglomerates (IWCFC) in response to the Commission's call for advice on sectoral rules on eligible capital and analysis of the consequences for supervision of financial conglomerates.

This report follows the first report on the cross-sectoral comparison of the sectoral rules for the eligibility of capital instruments in the regulatory capital published in January 2007. The third and last part of the advice was published in April 2008.