CEBS and CEIOPS publish joint technical advice on the equivalence of supervisory arrangements in Switzerland and United States

Date: 22/02/2008

The Committee of European Banking Supervisors (CEBS) together with the Committee of European Insurance and Occupational Pensions (CEIOPS) are publishing today the joint response of CEBS and the Interim Working Committee on Financial Conglomerates (IWCFC ), to the two parallel requests from June 2007, for technical advice from the European Commission (EC) on its recommendations on whether the supervisory arrangements of the US and Swiss supervisory authorities would achieve the objectives of consolidated and supplementary supervision, as provided for in the Capital Requirements Directive (CRD) and the Financial Conglomerates Directive (FCD). For the text of the call for advices please refer both to CfA No.9 and to CfA No. 2 addressed to the IWCFC.