15 May 2008

[CP 3L3 08 02]

The Committee of European Securities Regulators (CESR) and the Committee of European Banking Supervisors (CEBS) are publishing today a consultation paper (CP 3L3 08 02) regarding the Joint Call for Technical Advice related to the review under Articles 65(3)(a), (b) and (d) of MiFID and Article 48(2) of the Capital Adequacy Directive (CAD III) issued by the European Commission in December 2007.

Following up on previous work, CESR and CEBS have been asked to give advice to the European Commission on certain issues concerning the regulatory treatment of firms that provide investment services in relation to commodity and exotic derivatives. In particular, the views of the Committees are sought on whether the MIFID and CAD treatment of this type of firm continues to support the intended aims of market and prudential regulation.

26 March 2008

[3L3 AML CP]

Today the three Level 3 Committees [the Committee of European Banking Supervisors (CEBS), the Committee of European Securities Regulators (CESR) and the Committee of European Insurance and Occupational Pensions (CEIOPS)] - through the Anti Money Laundering Task Force (AMLTF) launch today their consultation on a common understanding in relation to the information on the payer of accompanying fund transfers to payment service providers of payees, arising out of the EU Regulation 1781/2006. Accordingly this paper, prepared by a joint 3L3 Anti Money Laundering Task Force, proposes some practical solutions in processing such messages, such as timeframes for seeking missing information, holding funds, reporting, and internal controls.
All interested parties are invited to send their comments by the 26th of June 2008.
During the consultation period a public hearing will be organized on the 6th of May 2008 at CEBS premises in London.

28 January 2008

[CP 3L3 08 01]

Responses

The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Penstions (CEIOPS) - through the Interim Working Committee on Financial Conglomerates (IWCFC) are publishing today the formal consultation on its advice to the European Commission (EC) on recommendations for action that the IWCFC considers appropriate to address the consequences of the differences in sectoral rules on eligible capital for the supervision of financial conglomerates. The advice forms the conclusion to its previous reports analysing the existence and impact of the sectoral differences published in January and August 2007 (link).

In order to allow for a focused consultation, the IWCFC has developed some concrete questions on which it would be very keen to hear market participants’ views. Participants are of course welcome to raise any other issues they think are relevant. Industry representatives are invited to send their comments by 7 March 2008.
Unless respondents request otherwise, comments received will be published on the CEBS and CEIOPS website.

19 December 2007

[CP04rev]
[Explanatory notes]

Responses

The Committee of European Banking Supervisors (CEBS) is publishing 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.
Unless respondents request otherwise, comments received will be published on the CEBS website.

7 December 2007

[CP17]
[Annex 1]
[Annex 2]
[Annex 3]

Responses

Feedback

The Committee of European Banking Supervisors (CEBS) is publishing a consultation paper on its proposals for a common EU definition of Tier 1 hybrids (CP17). 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.
CEBS invites all interested party to examine the proposals and to send their comments by 22 February 2008.

Consultation Paper on its proposals for a common EU definition of Tier 1 hybrids

7 December 2007

Consultation Paper on the Second Part of its Technical Advice on Large Exposures

Responses

Feedback

The Committee of European Banking Supervisors (CEBS) published its consultation paper (CP16) 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.
A public hearing will be organised on 15 January 2008 at CEBS premises in London, in order to allow all interested parties to highlight their comments to CEBS. http://www.c-ebs.org/keydates.htm

22 November 2007

3L3 Medium Term Work Programme

Responses

CESR, CEBS and CEIOPS, consult on a common Medium Term Work Programme
on cross sector supervisory issues (2008-2010).
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". 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 Committees believe that the time is right to take a more strategic and longer term look at 3L3 work. 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 Level 3 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.

All answers should be posted on the website of CESR, www.cesr.eu under the area identified as “Consultations” in the menu. The link to this area can also be reached directly through the web-sites of CEBS, www.c-ebs.org, or CEIOPS, www.ceiops.eu through links from the respective articles where this consultation is dealt with.

15 June 2007

Commodities
Annexes I-VII
Annex VIII
Annex IX
Annex X
Annex XI

Responses

CEBS 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 by 27 July 2007.
Due to the limited number of seats prior registration would be appreciated. The consultation paper and the registration form for the hearing are posted on the CEBS website under:http://www.c-ebs.org/keydates.htm

15 June 2007

CP14

CP14 responses

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 (CP14) 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. A public hearing is also being organised on 11 July 2007 at CEBS premises from 9:30 to 12:30 in order to allow all interested parties to highlight their comments to CEBS. Please use the following link for more information: http://www.c-ebs.org/keydates.htm

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. The public consultation will last for 3 months. 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'.

Draft Impact Assessment Guidelines
Information complement

CEBS starts a formal consultation on amendments to its Guidelines on Financial Reporting (CP06rev). The formal consultation starts with the banking industry, market participants and end-users. The consultation period starts today and lasts for one month by 20 May 2007.
CP06rev annex 1
CP06rev_annex 2 (tracked_changes)
CP06rev_annex 2 (clean version)

19 March 2007

CP01rev

CP01rev responses

19 March 2007

CP13

CP13 responses