2006

The Committee of European Banking Supervisors (CEBS) is today publishing a new release of the Guidelines on Financial Reporting (FINREP). These guidelines are intended to be used by credit institutions when preparing prudential reports to be sent to any European Union Supervisory Authority according to the IAS/IFRS endorsed by the European Commission.

The Committee of European Banking Supervisors (CEBS) is today publishing additional technical guidance to complement the CEBS guidelines on the Supervisory Review Process issued in January 2006 in the area of stress testing.

The Committee of European Banking Supervisors (CEBS) is publishing today the final set of guidelines on outsourcing of credit institutions' business activities. The aim of the CEBS guidelines is to promote an approriate level of convergence in supervisory approaches to outsourcing. The proposed guidelines are based on current supervisory and market practices and also take into account international and European developments in the field outsourcing.

CEBS is pleased to invite you to take part in an online survey to assess its progress and impact. It will be conducted on CEBS’ behalf by Ipsos MORI, the leading market research agency. The information will be invaluable in assisting us to review and assess CEBS’ work programme and, if necessary, to adapt its strategy and priorities. We are very interested in your views and opinions and for this reason hope you can spare a few minutes to complete this survey. The deadline for completing the questionnaire is 31 January 2007.

The Committee of European Banking Supervisors (CEBS) is today publishing a new release of the Guidelines on Common Reporting (COREP). These guidelines are intended to be used by credit institutions and investment firms when preparing prudential reports to be sent to any European Union Supervisory Authority according to the new capital framework established in the new capital regulation.

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 has published a report on industry practices with regard to the management and measurement of large exposures. The report also provides feedback on industry's views on the current regulatory environment.

CEBS has received a call for advice from the European Commission on prudential treatment of commodities business. In order to respond and consult with a sufficiently broad spectrum of firms of all sizes, CEBS has published a questionnaire on current industry practices and thinking in relation to the measurement and management of commodity risk.

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.

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 instruments.

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.

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 has extended the timeline by one month for market participants to respond to the questionnaire on large exposures. The revised deadline is now 16 June 2006.

CEBS has started a second round of public consultation on the standards for outsourcing of credit institutions' business activities. The consultation runs until 6 July 2006.

CEBS has published its guidelines on the implementation, validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms applying to move to an advanced approach to calculate their capital requirements.

CEBS is pleased to announce the release of the XBRL taxonomy version 1.0 for the Common Reporting (COREP) framework. The COREP XBRL taxonomy 1.0 is available for on www.corep.info in order to receive comments and suggestions improving the quality of the deliverable. Version 1.0 is to be used in production, and only minor improvements and changes are expected. National extensions can use version 1.0 as a sound basis.

ON APPLICATION OF THE SUPERVISORY REVIEW PROCESS CEBS has started a public consultation on additional technical guidance on application of the supervisory review process under the Capital Requirements Directive (CRD). The consultation period runs until 23 June 2006.

CEBS has received a call for advice from the European Commission on the review of the large exposures rules in the EU which requests CEBS to undertake a survey of market practices in this respect. This survey is conducted via public questionnaire and responses are requested by 18 May 2006.

CEBS has updated the supervisory disclosure framework and its website demo in light of the final version of the Capital Requirements Directive (CRD).

The introduction of IAS/IFRS has been a source of concern to supervisory authorities, notably because of fears that these standards could jeopardise the criteria that regulatory own funds have to fulfil. CEBS subsequently undertook an analysis of a sample of institutions' financial data to determine whether the supervisory concerns are justified and to what extent the Guidelines on prudential filters are effective.

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) have published a common cross-sector work programme for 2006. This work programme builds further on the Joint Protocol signed by the three Committees on 24 November 2005.

CEBS has published guidelines on cooperation between supervisors of EU banking groups and investment firms. The guidelines are designed to promote an efficient supervisory framework for groups that operate in several EU jurisdictions, by enhancing the practical operational networking of national supervisors.

CEBS has published guidelines on the Application of the Supervisory Review Process under Pillar 2. The supervisory review process is a central component of the new Capital Requirements Directive (CRD).

CEBS has started a second round of public consultation on some aspects of the validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms to calculate their capital requirements. The consultation runs until 16 February 2006

CEBS has published its final guidelines for a common approach to the recognition of External Credit Assessment Institutions (ECAIs) under the Capital Requirements Directive (CRD).

Mme Dani?le Nouy, Secretary General of the French Banking Commission (Commission Bancaire), has been elected Chair of the Committee of European Banking Supervisors (CEBS).

CEBS has published its guidelines on a common reporting framework (COREP) to be used by credit institutions and investment firms when they report their solvency ratio to supervisory authorities under the Capital Requirements Directive (CRD).