19 July 2007
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. The consultation is open to all interested parties, including supervised institutions and other market participants.
In the Call for Advice (No. 10) issued in 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.
In performing this work, it is suggested that CEBS follows a three-pronged approach by classifying the options and national discretions into the following categories:
a. Options and discretions which might be subject to mutual recognition along the lines set out in the annex of the Call for Advice;
b. Possible legitimate options and discretions;
c. Discretions and options which should be deleted.
Furthermore the Call for Advice indicates that on-going consultation with industry should play a key role in providing insight into the ways forward for dealing with the reduction of national discretions. CEBS is invited to deliver its advice by end May 2008.
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: email@example.com.