2007

  • CSBS publishes a paper on the "Range of practices on supervisory colleges and home-host cooperation" as well as a template for a "multilateral cooperation and coordination agreement"

    The Committee of European Banking Supervisors (CEBS) has published a paper on the "Range of practices on supervisory colleges and home-host cooperation", as well as a template for a "Multilateral Cooperation and Coordination Agreement" ("Template for written agreements"). CEBS believes that these documents will enhance the efficiency and effectiveness of the European supervisory regime under the CRD. In particular, the operational focus of the Template for written agreements is expected to narrow the gap between the high level principles issued by CEBS on supervisory cooperation and day-to-day supervisory practices.

    27/12/2007 - Press releases

  • CEBS Approves a poposal for standardization of remittance dates and reporting frequencies for supervisory reporting

    The Committee of European Banking Supervisors (CEBS) has published a proposal to amend the Guidelines on Common Reporting (COREP) for the periodic reporting to supervisory authorities in the EU by a supervised entity of its solvency under the recast Directives 2006/48/EC and 2006/49/EC. This proposal aims at EU-wide harmonisation of the reporting frequency used by supervisory authorities and at the harmonisation of the maximum remittance periods for sending in this information. CEBS is expecting feedback on this proposal by 19 April 2008. Comments should be submitted to CP04rev@c-ebs.org.

    19/12/2007 - Press releases

  • CEBS publishes a report on the regulatory implications of Pillar 3

    The Committee of European Banking Supervisors (CEBS) has published today the findings of a survey it has carried out with regard to regulatory implementation of disclosures by credit institutions as set out in chapter 5 of Directive 2006/48/CE which transposes the Basel Pillar 3 requirements into EU legislation. CEBS’s survey provides an overview of the situation in the EU. The findings and the discussions within CEBS and with the industry reveal that the implementation of the Pillar 3 provisions does not give rise to major concerns. The findings of the note have been discussed with industry representatives during a workshop on Pillar 3 issues held on 7 December 2007.

    18/12/2007 - Press releases

  • CEBS publishes a consultation paper on the second part of its technical advice on large exposures

    The Committee of European Banking Supervisors (CEBS) today starts a public consultation on a number of aspects of the large exposures regime as part of developing its response to the European Commission's Second Call for Advice. The consultation is open to all interested parties, including supervised institutions and other market participants. This consultation paper sets out CEBS’ preliminary views on the issues included in Part 2 of the European Commission’s Call for Advice. It also includes a summary of CEBS’ key findings from Part 1 of its Advice to allow respondents to have a complete understanding of the overall review of the large exposures rules. CEBS submits its initial views for a public consultation which starts today and runs until 22 February 2008. Comments received will be published on CEBS’ website unless respondents request otherwise. Please send your comments to the following e-mail address: cp16@c-ebs.org. A public hearing is being organised on 15 January 2008 at CEBS premises in order to allow all interested parties to highlight their comments to CEBS.

    07/12/2007 - Press releases

  • CEBS publishes a consultation paper on its proposals for a common EU definition of tier1 hybrids

    The Committee of European Banking Supervisors (CEBS) is publishing today a consultation paper on its proposals for a common EU definition of Tier 1 hybrids. Hybrid capital instruments may mix features of both debt and equity and can be considered as eligible as original own funds (‘Tier 1’) in the EEA provided that they meet certain criteria. The objective is not to elaborate a brand new definition of eligible hybrids but to provide guidelines for a common and clear interpretation across the EU of the international standards issued by the Basel Committee for Banking Supervision in 1998 (“the Sydney Press Release”). Such standards have not yet been reflected in the EU legislation. CEBS proposals have been elaborated in response to the European Commission’s letter of April 2007. CEBS invites all interested party to examine the proposals and to send their comments to “cp17@c-ebs.org” by 22 February 2008.

    07/12/2007 - Press releases

  • CESR, CEBS and CEIOPS consult on a common medium term work programme on cross sector supervisory issues

    The 3 Level 3 Committees (CESR, CEBS and CEIOPS) publish today their joint "Consultation Paper on the 3 Level 3 Committees' Medium Term Work Programme" (2008-2010). Building on the experience of the joint work and cooperation between the three Committees in their three common years of existence, and the creation of the Joint Protocol on Cooperation that the three Committees entered into two years ago. The three Committees wish to take the opportunity in the ongoing review of the Lamfalussy process to contribute to the discussion on the possible ways to enhance regulatory and supervisory consistency across sectors. In the 3L3 Medium Term Work Programme, the Committees have identified a comprehensive list of cross-sector areas for delivery in the period to the end of 2010 – the 'medium term', and six key areas for work within this three year period. The Committees would welcome input from the financial industry, investors and all other stakeholders regarding what they would most like to see addressed in a three Level3 setting in the medium term perspective. Comments on the key areas, the work programme in general, and other issues raised, are invited by 18 January 2008. Answers should be posted on the website of CESR, www.cesr.eu under the area indentified as "Consultations" in the menu.

    22/11/2007 - Press releases

  • CEBS today publishes the first part of its technical advice on the review of the large exposures regime

    The Committee of European Banking Supervisors (CEBS) today publishes the first part of its response to the European Commission's Call for Advice on the review of the large exposures regime.

    06/11/2007 - Press releases

  • CEBS publishes summary of the public hearing on future developments on supervisory reporting

    The Committee of European Banking Supervisors (CEBS) held an Open Hearing on 26 October 2007 to discuss the present situation and to gather input for the future developments on supervisory reporting. The event was chaired by Arnoud Vossen and Ludger Hanenberg, chairs of the Expert Group on Financial Information and of the Subgroup on Reporting, respectively. A large number of market participants including individual commercial banks and banking associations from different Member States contributed to the constructive discussion held.

    02/11/2007 - Press releases

  • CEBS publishes summary of the discussions at the public hearing on prudential filters

    The Committee of European Banking Supervisors (CEBS) organised a public hearing on 16 October 2007, open to all interested parties to present the outcome of a study carried out on the implementation and on the impact of prudential filter. The objective of the event was to share CEBS’s findings with the industry and other stakeholders and to hear their views and reactions on the report, on issues and problems identified with regard to prudential filters and on any aspects that may be of importance for possible future developments in that area.

    01/11/2007 - Press releases

  • 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.

    15/10/2007 - Press releases

  • CEBS consults on an assessment of risks arising from commodities and from firms carrying out commodities business

    The Committee of European Banking Supervisors (CEBS) today publishes an assessment of the prudential risks arising from the conduct of commodities business and the activities of firms carrying out commodities business. The report responds to the second part of a Call for Advice issued by the European Commission in August 2006 and concludes CEBS technical advice on the Review of commodities business under Article 48 of Directive

    10/10/2007 - Press releases

  • 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.

    08/10/2007 - Press releases

  • 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. CEBS will present and discuss the report and its conclusions at a public hearing scheduled for 16 October.

    05/10/2007 - Press releases

  • CEBS publishes a 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.

    25/09/2007 - Press releases

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

    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. The 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.

    30/08/2007 - Press releases

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

    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.

    30/08/2007 - Press releases

  • 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.

    24/07/2007 - Press releases

  • CEBS publishes a questionnaire on options and national discretions

    The Committee of European Banking Supervisors (CEBS) today publishes a questionnaire on options and national discretions as part of developing its response to the European Commission's Call for Advice. In the Call for Advice (No. 10) issued on 16 May 2007, the European Commission invites CEBS to conduct an in-depth technical analysis on the exercise of options and national discretions identified in its supervisory disclosure framework. CEBS invites all interested parties to answer the questionnaire published for public consultation which starts today and runs until 19 October 2007. Comments received will be published on CEBS website unless respondents request otherwise. Please send your comments to the following e-mail address: nd@c-ebs.org.

    19/07/2007 - Press releases

  • CEBS publishes a summary of the open hearing on large exposures

    The Committee of European Banking Supervisors (CEBS) organised a public hearing open to all interested parties on 11 July 2007 in London. On 15 June 2007, CEBS submitted for public consultation its initial views on key basic concepts of a large exposures regime in the EU as part of its response to the first part of the European Commission's second call for advice (CP14). In the context of the ‘Better Regulation’ agenda, CEBS also put forward some preliminary results from its market and regulatory failure analyses. The objectives of the public hearing were to hear about the range of market participants’ views on CEBS’ proposals, coming from large sophisticated institutions as well as from smaller or less sophisticated institutions, and to receive input from them on key technical issues identified in the Consultative Paper. Participants were invited to submit their written contributions no later than 15 August 2007 to cp14@c-ebs.org

    18/07/2007 - Press releases

  • IWCFC today received a call for technical advice on sectoral rules on eligible capital (IWCFC - CfA)

    The Commission has asked the Interim Working Committee on Financial Conglomerates (IWCFC) - the joint working committee of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Banking Supervisors (CEBS) - to provide technical advice with regard to the sectoral rules on eligible capital and the analysis of the consequences for supervision of financial conglomerates.

    21/06/2007 - Press releases

  • CEBS publishes summary of the open hearing on own funds

    The Committee of European Banking Supervisors (CEBS) organised a public hearing open to all interested parties on ‘towards further convergence on own funds in Europe’ on 11 June 2007 in London. The objective of the event was to hear about the range of concerns the current definition of own funds in the EU, and especially Tier 1 hybrid capital instruments, causes for market participants and their views on what a more consistent definition would look like.

    21/06/2007 - Press releases

  • CEBS consults on an assessment of the risks arising from commodities business and from firms carrying out commodities business

    The Committee of European Banking Supervisors (CEBS) today publishes a consultation paper on the risks arising from commodities business and from firms carrying out commodities business. The report responds to the second part of a Call for Advice issued by the European Commission in August 2006 in which CEBS was invited to assess the prudential risks arising from the conduct of commodities business. CEBS invites all interested parties to discuss the findings of the risk assessment in an open discussion on 9 July 2007 (9.30–12.30), at the CEBS office in London and/or to send written comments on the consultation paper to the CEBS secretariat (commodities@c-ebs.org) by 27 July 2007. Due to the limited number of seats prior registration would be appreciated.

    15/06/2007 - Press releases

  • CEBS publishes a consultation paper on the first part of its technical advice on large exposures

    The Committee of European Banking Supervisors (CEBS) today starts a public consultation on a number of central aspects of the large exposures regime as part of developing its response to the European Commission's call for advice. The consultation is open to all interested parties, including supervised institutions and other market participants. This consultation paper sets out CEBS’ initial views on some of the key concepts which form the basis of the large exposures regime. CEBS submits its initial views for public consultation which starts today and runs until 15 August 2007. Comments received will be published on CEBS website unless respondents request otherwise. Please send your comments to the following e-mail address: cp14@c-ebs.org. Moreover, a public hearing is being organised on 11 July at CEBS premises from 9:30 to 12:30 in order to allow all interested parties to highlight their comments to CEBS.

    15/06/2007 - Press releases

  • CEBS publishes a quantitative survey of eligible own funds

    The Committee of European Banking Supervisors (CEBS) is publishing today a quantitative analysis of the capital instruments that are eligible for prudential purposes in the application of the European Banking Directives. It is the fourth contribution of CEBS to the European Commission's current review of the definition of Own Funds.

    15/06/2007 - Press releases

  • CESR, CEBS and CEIOPS publish joint consultation paper on draft impact assessment guidelines

    CESR, CEBS and CEIOPS announce today the publication of a joint consultation paper on draft Impact Assessment (“IA” hereafter) Guidelines to be used by the EU Level 3. The guidelines are designed to provide the Committees’ Expert Groups with a practical tool to assist them when using IA as part of their policy analysis and in the course of formulating recommendations. Comments on the proposed IA guidelines will be welcomed by the 24 August 2007 and can be submitted online via CESR's website at http://www.cesr.eu in the section 'consultation'.

    24/05/2007 - Press releases

  • CEBS publishes implementation questions on website

    CEBS has developed a web-based system for the reception and publication of implementation questions in the area of reporting frameworks. Any interested party will be able to send questions on the implementations of the CEBS Guidelines on Reporting (COREP and FINREP) in a more direct and transparent way. The questions will be addressed and answered by the experts from supervisory national authorities participating in the networks on COREP and FINREP. The system will also disclose the questions and answers in the public CEBS website. The system already discloses a number of questions and answers that have been addressed since mid-2006. CEBS expects that this system will improve the consistency and common understandings of the national implementations of the CEBS Guidelines on Reporting, simplifying the reporting procedures and streamlining the administrative burden for cross-border groups. Finally, it shall be stressed that the answers only reflect CEBS’ views on problems arising from the implementation of the CEBS Guidelines on Reporting, but they cannot be considered as interpretations of the underlying regulations (Directive 2006/48/EC and Directive 2006/49/EC, and IAS/IFRS endorsed by the European Union).

    18/05/2007 - Press releases

  • CEBS organizes first international conference

    9 May 2007, London The Committee of European Banking Supervisors (CEBS) will be organizing its first international conference on 9 May 2007 in London. The main topics for discussion will be CEBS’ progress since it was established three years ago, and the challenges lying ahead for EU banking supervision. CEBS will also be publishing the results of a major public survey to assess its performance. The results of the Ipsos MORI poll of CEBS' work and CEBS' response to it, can be also found on our website.

    08/05/2007 - Press releases

  • CEBS organises a hearing on own funds

    CEBS is about to finalise its empirical work on the definition of own funds across the EU. CEBS has been asked by the European Commission to check whether further convergence can be achieved in this area and to this end, CEBS is keen on having an open discussion with all interested parties on the concerns raised by the current regulatory definition of capital and on the range of views as to where convergence should be sought. CEBS is therefore organising an open hearing on 11 June 2007 in London.

    27/04/2007 - Press releases

  • European supervisors agree on the outcome of the informal joint assessment process of an external credit assessment institution

    Eleven competent supervisory authorities to whom DBRS informally applied for recognition as an eligible external credit assessment institution (ECAI) in the context of the Capital Requirements Directive have reached a shared view on DBRS' eligibility for regulatory capital purposes and on the mapping of its credit assessments.

    25/04/2007 - Press releases

  • CEBS starts a formal consultation on amendments to the guidelines on financial reporting

    The Committee of European Banking Supervisors (CEBS) has decided to start a formal consultation with the banking industry, market participants and endusers to amend its Guidelines on Financial Reporting (CP06 rev). The consultation period starts today and lasts one month, by the 20 May 2007.

    20/04/2007 - Press releases

  • CEBS starts a formal consultation on amendments to its consultation practices

    The Committee of European Banking Supervisors (CEBS) has decided to start a formal consultation with the banking industry, market participants and endusers to amend its consultation practices (CP01 rev). The consultation period starts today and lasts three months, by the 19 June 2007.

    19/03/2007 - Press releases

  • CEBS starts consultation on the establishment of a mediation mechanism between banking supervisors

    The Committee of European Banking Supervisors (CEBS) is publishing today its Consultation Paper (CP13) on a mediation mechanism between banking supervisors. The consultation is open to all interested parties, including supervised institutions, other market participants and end users of banking services. The consultation period begins today and will run until 19 June 2007. CEBS is organising a public hearing on 29 May 2007 on the Consultation Paper, please download the registration form here.

    19/03/2007 - Press releases

  • CEBS publishes a quantitative survey on hybrid capital instruments

    The Committee of European Banking Supervisors (CEBS) is publishing today an empirical snapshot of the characteristics of hybrid capital instruments recognised as regulatory original own funds in the European Economic Area (EEA). It is the third contribution of CEBS to the European Commission’s current review of the definition of Own Funds. It complements the CEBS survey of the implementation of the current rules across Member States and its analysis of the capital instruments recently created by the industry, published on 23 June 2006.

    13/03/2007 - Press releases

  • CEBS publishes summary of proportionality workshop

    The Committee of European Banking Supervisors (CEBS) and three European Banking Associations (the European Association of Co-operative Banks, European Banking Federation, and the European Savings Banks Group) jointly organised a workshop on the principle of proportionality on 11 January 2007 in London. The objective of the event was to bring together banking supervisors and industry representatives to have an open and informal exchange of views on the application of the principle of proportionality.

    31/01/2007 - Press releases

  • CEBS appoints new bureau members

    The Committee of European Banking Supervisors (CEBS) has appointed Rudi Bonte and Jukka Vesala as new members to its Bureau. Mr. Bonte and Mr. Vesala started working in their new roles from 15 January 2007. On 31 January Rudi Bonte and Jukka Vesala were also appointed as Directors of CEBS Secretariat Limited.

    31/01/2007 - Press releases

  • Joint press release on cross-sectoral comparison of capital instruments

    The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today a comparison of the capital instruments that are eligible for prudential purposes in the application of the European banking, insurance and securities regulation. This cross-sectoral comparison has been produced by the Interim Working Committee on Financial Conglomerates (IWCFC) at the request of the European Financial Conglomerates Committee. This report was sent to the Commission on 3 January 2007.The recommendations in this advice focus on the four main differences that were gathered during the analysis: the treatment of hybrids, revaluation reserves/latent gains, deduction of holdings and the differences in consolidation approaches and methods foreseen by the Financial Conglomerates Directive.

    09/01/2007 - Press releases

  • CEBS and CEIOPS are publishing cross-sectoral comparison of capital instruments

    The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today a comparison of the capital instruments that are eligible for prudential purposes in the application of the European banking, insurance and securities regulation.

    09/01/2007 - Press releases

  • CEBS publishes a survey on supervisory practices for commodities business and firms carrying out commodities business

    The Committee of European Banking Supervisors (CEBS) today publishes a survey on supervisory practices for commodities business and firms carrying out commodities business. The report responds to the first part of a Call for Advice (CfA No. 6) issued by the European Commission in August 2006. CEBS was invited to carry out a survey of supervisory practices for commodities business and firms carrying out commodities business and to assess the prudential risks arising from the conduct of commodities business.

    04/01/2007 - Press releases