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Yesterday the auditorium of the Chartered Accountants Hall in London filled with over 200 representatives of the European Banking Industry and the European regulatory bodies.

The Committee of European Banking Supervisors (CEBS) is today publishing a consultation paper on its role and tasks, taking stock of the experience gained over the first year of its existence. The paper explains CEBS’ overall approach to meeting its main aims and objectives, as well as the tools at its disposal to fulfil these, and looks ahead at how CEBS intends to address near-term challenges. The consultation period will be four months.

CEBS has started a public consultation on additional technical guidance on the application of the supervisory review process under the Capital Requirements Directive (CRD). The guidelines on stress testing will be applied within the dialogue between supervisors and institutions and should not be interpreted as resulting automatically in the need for additional capital.

CEBS starts consultation on guidelines for cross-border supervisionThe Committee of European Banking Supervisors (CEBS) today issues for public consultation its guidelines for greater supervisory cooperation for EU banking and investment firm groups under the Capital Requirements Directive (CRD). Through enhanced co-operation between supervisors, these guidelines aim to avoid any excessive supervisory burden on groups that operate across several EU jurisdictions. The guidelines are primarily aimed at supervisory authorities but they will equally be of interest to groups operating on a cross-border basis in the EU. The consultation period will last four months.

CEBS has published a report on the effects of the Capital Requirements Directive (CRD) on the amount of the regulatory minimum capital in Europe. The report summarises the results of the fifth Quantitative Impact Study (QIS 5) and shows expected reduction of minimum capital requirements after implementation of new directive.

The Committee of European Banking Supervisors (CEBS) starts a formal consultation on the validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms for the calculation of their capital requirements. The consultation starts today and runs until 30 October 2005.

Today the Committee of European Banking Supervisors (CEBS) released its first consultation paper, ( CP01 ) dealing with the scope and the modalities of CEBS' consultation practices.

CEBS has published a survey of the national implementation of the current rules on own funds. CEBS also publishes in parallel an analysis of recent market trends in, and the main characteristics of, new capital

CEBS will hold a public hearing on its proposals on the guidelines for greater supervisory cooperation between consolidating supervisors and host supervisors CP09 on Wednesday 5 October, starting at 1.30 pm.

At the second meeting of the Committee of European Banking Supervisors (CEBS) on 31 March, members agreed on a set of high level principles (HLPs) on outsourcing.

The Chairs of the three Level 3 Lamfalussy Committees, The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) were invited to address the ECOFIN Council meeting on 11 October 2005, on progress and opportunities for better financial regulation.

Today the Committee of European Banking Supervisors (CEBS) released a consultation paper on the application of the Supervisory Review Process under Pillar 2 of the new capital adequacy framework (Basel II).

Competent supervisory authorities across Europe have reached a shared view on the Fitch Ratings, Standard & Poor's Ratings Services, and Moody's Investors Service eligibility for regulatory capital purposes and on the mapping of their credit assessments.

The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) welcome the political agreement reached by the Council on 11 May on the Directive proposal on a new structure for EU committees on financial services.

Priority should be given to the consistent implementation of forthcoming Capital Requirements Directive and to convergence of supervisory practices in its enforcement. That was the conclusion at the first meeting of CEBS Consultative Panel held in London on 7 October.

The Committee of European Banking Supervisors (CEBS) is today publishing additional technical guidance on application of the supervisory review process under the Capital Requirements Directive.

CEBS is publishing a supplementary note to its Consultation Paper on the recognition of external credit assessment institutions - ECAIs - published in June 2005.

CEBS will soon start a consultation process to achieve a common solvency ratio reporting framework for credit institutions and investment firms under the future EU capital requirements regime.