Consultation paper on CEBS's draft implementation guidelines on the revised large exposures regime(CP26)

Start Date: 12/06/2009 | Deadline: 11/09/2009

The Committee of European Banking Supervisors (CEBS) today publishes a consultation paper (CP26) on draft implementation guidelines for three aspects of the revised large exposures regime. The consultation is open to all interested parties, including supervised institutions and other market participants.

Following CEBS's second advice delivered to the European Commission in April 2008, a revised large exposures regime is now included in an amendment to the Capital Requirements Directive (CRD). The amended provisions need to be transposed into Member States' national law by 31 October 2010 and will then be applied from 31 December 2010.

CEBS has previously identified areas in which further guidance is needed in order to achieve convergent implementation and application of the amended provisions. Thus, the draft guidelines focus on three aspects of the revised large exposures regime:

  • Definition of ‘connected clients', and in particular the concept of ‘interconnectedness'.
  • Calculation of exposure values for schemes with exposure to underlying assets.
  • Reporting requirements.

The last of these links into the COREP framework to ensure a unified European reporting system.

The draft guidelines set out in CP26 build on CEBS's earlier advice to the Commission. In addition, in elaborating this document, CEBS has benefited from input provided by industry experts nominated by Members and Observers of CEBS's Consultative Panel (Industry Experts Group on Large Exposures).

CEBS submits its draft proposals for a public consultation which starts today and runs until 11 September 2009. Comments received will be published on CEBS's website unless respondents request otherwise. Please send your comments to the following e-mail address:

A public hearing will be held on Monday 7 September 2009 at CEBS's premises in London, from 10:00 to 13:00 to allow interested parties to share their views with CEBS.


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