2005

The Committee of European Banking Supervisors (CEBS) today published guidelines establishing a standardised financial reporting framework (FINREP) for credit institutions operating in the EU. This framework will enable credit institutions to use the same standardised data formats and data definitions for prudential reporting in all countries where the framework will be applied.

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), (‘the Committees’) signed on 24 November 2005, in Brussels, a joint protocol to foster co-operation and coordination in the areas of regulation, policy, information exchange and other tasks with a common interest. The three Committees are already closely cooperating on a very regular basis.

The Committee of European Banking Supervisors (CEBS) publishes its guidelines for supervisory authorities on increased transparency and public disclosure.

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

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.

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.

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.

The 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.

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.

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 presenting for public consultation its guidelines for a common approach to the recognition of External Credit Assessment Institutions (ECAIs) under the proposed Capital Requirements Directive (CRD). The consultation period is three months.

CEBS is holding a public hearing on its proposals on the Supervisory Review Process on Wednesday 27 July 2005, starting at 2 pm. The hearing will be held at the CEBS' offices in London. The hearing is open to all market participants, end-users and other interested parties.

The Committee of European Banking Supervisors (CEBS) today opens a public consultation based on a revised and expanded version of its first consultation paper on the application of the Supervisory Review Process*. The current consultation period will run for four months, until 21 October 2005

The Committee of European Banking Supervisors (CEBS) was honoured to welcome today a delegation of Members of the European Parliament from the Committee on Economic and Monetary Affairs (ECON) to discuss the work of CEBS at its headquarters in London.

The Committee of European Banking Supervisors (CEBS) was honoured to welcome today US Secretary of the Treasury John Snow to discuss the work of CEBS at its headquarters in London.

The European banking industry is being confronted with increasing requirements regarding reporting processes, both in their relationships with clients to whom they extend credit and with supervisory authorities to whom they are accountable. New technical and regulatory developments are changing the way these reporting requirements are met. Introduction of digital reporting, based on open standards, allows for more frequent and more detailed reporting at lower costs and results in increased insight and transparency.

The Committee of European Banking Supervisors (CEBS) is pleased to announce today’s publication of the second of its public consultations on prudential reporting requirements for credit institutions. This consultation focuses on the development of a standardised consolidated financial reporting framework for credit institutions. The first consultation (published January 2005) focussed on defining a common reporting framework for the solvency ratio under the future EU Capital Requirements Directive (CRD).

 

The European Commission is conducting a review of existing rules in all financial services Directives to determine their impact on cross-border consolidation in the EU banking sector. As part of that review, the Commission has asked the Committee of European Banking Supervisors (CEBS) to evaluate the supervisory process for approving acquisitions of qualifying holdings in credit institutions.

 

By the end of next year, any interested party will be able to access relevant information on the implementation and application of harmonised prudential banking rules for all EU Member States in a single location, a common format and a common language.

At its meeting in London on 18 January 2005, the Committee of European Banking Supervisors (CEBS) agreed to start a formal consultation with the banking industry, market participants and end-users to achieve a common framework for reporting of the solvency ratio by credit institutions. The consultation starts today and the consultation period will be three months.

The Committee of European Banking Supervisors (CEBS) has defined its work programme for 2005, with the assistance of its Consultative Panel. CEBS plans to issue a number of public consultations during the coming year. Most of them will be related to the implementation of the proposed Capital Requirements Directive (CRD) which is expected to be adopted by the European Parliament later this year.