6 May 2008
CALL FOR TECHNICAL ADVICE FROM THE IWCFC ON FINANCIAL CONGLOMERATES
The Interim Working Committee on Financial Conglomerates (IWCFC) received the third call for technical advice from the European Commission. The Commission services is requesting the IWCFC to conduct a stocktake to assess of practices implemented in the Member States. The IWCFC has already delivered advice with respect to cross sectoral work on the eligibility of own funds, and the equivalence of financial conglomerates supervision in Switzerland and in the US. These contributions providing useful input to the review of the Financial Conglomerates Directive.
The IWCFC invites all interested parties to send their comments to the FCD review to fcd@c-ebs.org until the end of September 2008.
7 April 2008
CEBS AND CEIOPS ADVICE ON THE RECOMMENDATIONS IN THE DEFINITION OF CAPITAL INSTRUMENTS FOR FINANCIAL CONGLOMERATES
The Committee of European Banking Supervisors (CEBS) together with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today recommendations to address the consequences of the differences in sectoral rules on the calculation of own funds of financial conglomerates. These recommendations have been produced by the Interim Working Committee on Financial Conglomerates (IWCFC) at the request of the European Financial Conglomerates Committee. The recommendations are the third and last part of the advice on the cross-sectoral comparison of the sectoral rules for the eligibility of capital instruments in the regulatory capital. The other two parts were published in January 2007 and August 2007.
[read more] [Advice] [Letter to EC]
3 April 2008
CEBS PUBLISHES ITS PROPOSALS FOR A COMMON EU DEFINITION OF TIER1 HYBRIDS
The Committee of European Banking Supervisors (CEBS) is publishing its proposals for a common EU definition of Tier 1 hybrids. CEBS proposals respond to a letter by the European Commission of April 2007 . Their objective is not to create a new definition for eligible Tier 1 hybrid capital instruments but to provide guidelines for a common EU interpretation of the eligibility criteria and to advise the European Commission with regard to the implementation of these criteria into EU legislation.
The proposals are based on eligibility requirements set out in the “Sydney Press Release” issued by the Basel Committee for Banking Supervision in 1998, the current supervisory practices across the EU as well as information provided by market participants during the public consultation of the draft proposals CP 17 which had been published on CEBS website.
[read more] [Advice] [Feedback]
3 April 2008
CEBS PUBLISHES ADVICE ON THE REVIEW OF THE LARGE EXPOSURES REGIME
The Committee of European Banking Supervisors (CEBS) today publishes its Advice on the review of the large exposures regime, in response to the European Commission's Second Call for Advice. The Advice focuses mainly on the issues raised in the second part of the Commission’s Second Call for Advice, but it also summarizes the key findings from the first part of CEBS’s Advice, published in November 2007. In keeping with the European Commission's better regulation agenda, the Advice is supported by a high-level market failure/regulatory failure analysis of the issues under review. In developing its proposals, CEBS has benefited from views gathered from a broad range of market participants. Input was provided in two public hearings and in the industry’s responses to the public consultation on CP14 and CP16 which have been also published on CEBS website.
[read more] [Cover letter] [Advice] [Feedback]
22 February 2008
CEBS AND CEIOPS PUBLISH JOINT TECHNICAL ADVICE ON THE EQUIVALENCE OF SUPERVISORY ARRANGEMENTS IN SWITZERLAND AND UNITED STATES
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 to CEBS website: Cfa no9.
18 January 2008
JOINT CEBS AND CERS CALL FOR EVIDENCE ON COMMODITIES
In December 2007 the European Commission issued a Call for Technical Advice related to the review under Articles 65(3)(a), (b) and (d) of MiFID and Article 48(2) of the CRD. CESR and CEBS are requested to deliver its technical advice by end-July 2008. In order to prepare this advice, CESR and CEBS are inviting all interested parties to submit their views regarding the Call for Advice from the Commission and especially in relation to the questions contained in its annex.
CEBS would like to point out that the purpose of CEBS work is not to duplicate the work of the Commission. Therefore there is no need to re-submit those responses which were sent to the Commission. All contributions can be submitted online via CESR’s website under the heading Consultations at www.cesr.eu by 29 February 2008. All contributions received will be published on the CESR and CEBS websites unless specifically requested otherwise.
3 January 2008
CALL FOR JOINT CESR/CEBS ADVICE ON COMMODITY DERIVATIVES
The Committee of European Banking Supervisors (CEBS) and the Committee of European Securities Regulators (CESR) have been asked to provide joint advice to assist the Commission on commodity and exotic derivatives and related business. The call for advice and the mandate to CESR and CEBS for technical advice have been also published on the Commissions' website. Download here.
6 November 2007
CEBS PUBLISHES THE FIRST PART OF ITS TECHNICAL ADVICE ON THE REVIEW OF THE LARGE EXPOSURES REGIME
The Committee of European Banking Supervisors (CEBS) today publishes the first part of its response to the European Commission's Call for Advice on the review of the large exposures regime.
The first part of the advice sets out CEBS’ views on a number of key concepts regarding the large exposures regime. When elaborating its views, CEBS has benefited from the input already gathered in the context of its survey of industry practices and from the feedback received on its consultation paper. In addition, a public hearing was held on 11 July at CEBS’ premises. The advice sets out CEBS’ understanding of the objectives and purposes of a large exposures regime. CEBS believes that ensuring that risks arising from individual exposures to individual counterparties or groups of connected counterparties are kept to an acceptable level follows from the overarching principles of prudential supervision.
[Read more] [Advice Part 1] [Feedback]
10 October 2007
CEBS CONSULTS ON AN ASSESSMENT OF THE RISKS ARISING FROM COMMODITIES BUSINESS AND FROM FIRMS CARRYING OUT COMMODITIES BUSINESS
The Committee of European Banking Supervisors (CEBS) today publishes an assessment of the prudential risks arising from the conduct of commodities business and the activities of 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 and concludes CEBS technical advice on the Review of commodities business under Article 48 of Directive 2006/49/EC.
The report is based on information provided by CEBS members and observers on the structure and regulatory coverage of their commodities markets as well as on information directly provided by market participants on their business, their risk structure and mitigants, their perception of the current regulatory framework and their concerns regarding any amendments to this framework.
[Read more] [Report] [Annex1] [Annex2] [Annex3] [Annex4] [Annex5]
30 August 2007
CEBS AND CEIOPS JOINT REPORT ON THE IMPACT OF THE DIFFERENCES IN SECTORAL RULES ON THE CALCULATION OF OWN FUNDS OF FINANCIAL CONGLOMERATES
The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today a report on the possible impact of the differences in the definition of capital instruments provided for by the European banking, insurance and securities regulation, for the supervision of a conglomerate. This assessment has been produced by the Interim Working Committee on Financial Conglomerates (IWCFC) in response to the Commission’s call for advice on sectoral rules on eligible capital and analysis of the consequences for supervision of financial conglomerates.
This report follows the first report on the cross-sectoral comparison of the sectoral rules for the eligibility of capital instruments in the regulatory capital published in January 2007.
15 August 2007
FIRST PART OF CEBS' TECHNICAL ADVICE ON LIQUIDITY RISK MANAGEMENT
The Committee of European Banking Supervisors (CEBS) is publishing today the first part of CEBS' technical advice to the European Commission on Liquidity Risk Management. CEBS received the call for technical advice from the Commission on liquidity risk management (CfA No.8) in March 2007. CEBS had been invited to provide a survey of the regulatory frameworks adopted by the members states and an analysis of selected topics related to liquidity risk management.
The first part of technical advice includes the Survey of the current regulatory frameworks adopted by the EEA regulators and the Summary of national responses. CEBS sent the first part of CEBS' technical advice to European Commission on Liquidity Risk Management on 7 August 2007.
[Survey of Liquidity stock-take] [National responses]
11 July 2007
CALL FOR TECHNICAL ADVICE ON SUPERVISION IN THIRD COUNTRIES
The Committee of European Banking Supervisors (CEBS) has been asked to provide technical advice (No.9) to assist the Commission services and the EBC in updating the general guidance according to the requirements of Directive 2006/48/EC on the arrangements for consolidated supervision in third countries: Switzerland and the USA.
11 July 2007
CALL FOR TECHNICAL ADVICE TO IWCFC ON SUPERVISION IN THIRD COUNTRIES
The Commission’s call for advice asks the Interim Working Committee on Financial Conglomerates (IWCFC) – the joint working committee of CEIOPS and CEBS - to provide technical advice according to the requirements of Directive 2002/87/EC (Financial Conglomerates Directive) on the arrangements for supplementary supervision in third countries: in Switzerland and the USA.
11 July 2007
CALL FOR TECHNICAL ADVICE TO IWCFC ON SECTORAL RULES ON ELIGIBLE CAPITAL
The Commission has asked the Interim Working Committee on Financial Conglomerates (IWCFC) - the joint working committee of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Banking Supervisors (CEBS) - to provide technical advice with regard to the sectoral rules on eligible capital and the analysis of the consequences for supervision of financial conglomerates.
15 June 2007
CEBS PUBLISHES A QUANTITATIVE SURVEY OF ELIGIBLE OWN FUNDS
The Committee of European Banking Supervisors (CEBS) is publishing today a quantitative analysis of the capital instruments that are eligible for prudential purposes in the application of the European Banking Directives.
It is the fourth contribution of CEBS to the European Commission's current review of the definition of Own Funds. The analysis complements the CEBS survey of the implementation of the current rules across Member States, its analysis of the capital instruments recently created by the industry, and a quantitative analysis of hybrid capital instruments eligible as original own funds. These surveys have been published in June 2006 and March 2007 (see below).
16 May 2007
CALL FOR TECHNICAL ADVICE ON OPTIONS AND DISCRETIONS IN THE CRD
The Committee of European Banking Supervisors (CEBS) has received the (No.10) call for technical advice on options and discretions in the Capital Requirements Directive (CRD). CEBS has been invited to provide advice on the extent which further harmonisation might be achieved in terms of reducing the number of discretions and options of the CRD.
[read more] [user guide] [industry questionnaire] [responses]
15 March 2007
CALL FOR TECHNICAL ADVICE ON LIQUIDITY RISK MANAGEMENT
The Committee of European Banking Supervisors (CEBS) has received the (No.8) call for technical advice from the Commission on liquidity risk management. CEBS is invited to provide a survey of the regulatory frameworks adopted by the members states and an analysis of selected topics related to liquidity risk management.
CEBS sent the first part of CEBS' technical advice to European Commission on Liquidity Risk Management on 7 August 2007.
[read more] [Survey of Liquidity stock-take] [National responses]
13 March 2007
CEBS PUBLISHES A QUANTITATIVE SURVEY ON HYBRID CAPITAL INSTRUMENTS
The Committee of European Banking Supervisors (CEBS) is publishing today an empirical snapshot of the characteristics of hybrid capital instruments recognised as regulatory original own funds in the European Economic Area (EEA). It is the third contribution of CEBS to the European Commission’s current review of the definition of Own Funds. It complements the CEBS survey of the implementation of the current rules across Member States and its analysis of the capital instruments recently created by the industry, published on 23 June 2006.
9 January 2007
CEBS AND CEIOPS ARE PUBLISHING CROSS-SECTORAL COMPARISON OF CAPITAL INSTRUMENTS
The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) are publishing today a comparison of the capital instruments that are eligible for prudential purposes in the application of the European banking, insurance and securities regulation. This cross-sectoral comparison has been produced by the Interim Working Committee on Financial Conglomerates (IWCFC) at the request of the European Financial Conglomerates Committee. This report was sent to the Commission on 3 January 2007.
[read more] [Cross Sectoral Comparison]
8 January 2007
SECOND CALL FOR ADVICE ON LARGE EXPOSURES
The Committee of European Banking Supervisors (CEBS) has received a second call for advice from the Commission on a number of issues with regard to the review of the large exposures. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org.
4 January 2007
CEBS PUBLISHES A SURVEY ON SUPERVISORY PRACTICES FOR COMMODITIES BUSINESS AND FIRMS CARRYING OUT COMMODITIES BUSINESS
The Committee of European Banking Supervisors (CEBS) today publishes a survey on supervisory practices for commodities business and firms carrying out commodities business.
The report responds to the first part of a Call for Advice issued by the European Commission in August 2006. CEBS was invited to carry out a survey of supervisory practices for commodities business and firms carrying out commodities business and to assess the prudential risks arising from the conduct of commodities business.
[read more]
[Supervisory survey]
[Annex 1]
[Annex 2]
[Annex 3]
[Annex 4]
2 October 2006
Joint 3L3 letter to the European Commission on M&A
The Committee of European Banking Supervisors (CEBS), together with CESR and CEIOPS sent a joint technical letter to the European Commission (29 September 2006) regarding the proposal to amend the procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of shareholdings in the financial sector.
31 August 2006
INDUSTRY PRACTICES ON LARGE EXPOSURES
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.
[Industry report] [Annex]
22 August 2006
CALL FOR TECHNICAL ADVICE ON COMMODITIES BUSINESS
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.
[Call for advice] [Questionnaire] [Questionnaire] [Responses]
3 August 2006 and 26 October 2006
CALL FOR TECHNICAL ADVICE ON DEFINITION OF OWN FUNDS
The European Commission has revised its specifiaction issued in August, on the quantitative analysis requested in the call for advice with regard to the definition of own funds issued in June 2005, and has indicated a new timetable for its submission. All interested parties are invited to provide initial comments to CEBS on this by sending an e-mail to info@c-ebs.org.
[read more 3August] [read more 26October]
23 June 2006
CURRENT RULES ON OWN FUNDS AND MARKET TRENDS IN NEW CAPITAL INSTRUMENTS
CEBS has published a survey of the national implementation of the current rules on own funds and in parallel an analysis of recent market trends in new capital instruments.
[Rules on own funds (main report)] [Market trends (main report)]
[National rules (Annex 3)] [Capital and reserves (Annex 4)] [Interim profits (Annex 5)]
[Deductions (Annex 6)] [Consolidation (Annex 7)] [Hybrid instruments (Annex 8)]
[Additional own funds (Annex 9)] [Ancillary own funds (Annex 10)] [Questionnaire]
3 May 2006
CURRENT SUPERVISORY PRACTICES ON LARGE EXPOSURES
CEBS has carried out a survey of member states competent
authorities' implementation of the large exposures rules. The report provides a review of the different regulatory approaches and provides
insights into the proposed manner of implementation of the new and old
options in the Capital Requirements Directive and serves to point out where there are 'synergies and conflicts' of practice between national supervisory authorities.
[Final report] [Country summaries] [Limits] [Use of exemptions] [Questionnaire]
23 March 2006
QUESTIONNAIRE ON LARGE EXPOSURES
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. Responses should be sent to le@c-ebs.org by 16 June 2006.
8 December 2005
CALL FOR TECHNICAL ADVICE ON DEFINITION OF LARGE EXPOSURES RULES
The Commission has asked CEBS to provide technical advice on a number of issues with regard to the definition of large exposures rules. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org
[read more]
14 November 2005
QUESTIONNAIRE ON OWN FUNDS
CEBS has received a call for advice from the European Commission on the review of the definition of own funds in which it is mandated to carry out an analysis of the capital instruments recently launched by the industry and to set out its views on the lessons to be learned about trends in the quality of regulatory capital. CEBS is publishing a questionnaire to get an input from the banking industry and other market participants. Comments should be sent to of@c-ebs.org by 10 February 2006.
[read more] [responses] [Market trends report]
30 September 2005
CEBS ADVICE ON DEPOSIT GUARANTEE SCHEMES
CEBS has provided the Commission with technical advice on issues covering the deposit guarantee systems as part of a wide-ranging review of the Directive on Deposit Guarantee Schemes.
[read more]
1 July 2005
CEBS ADVICE ON E-MONEY
CEBS has provided the Commission with technical advice on the application of the E-Money Directive.
[read more]
1 July 2005
CALL FOR TECHNICAL ADVICE ON DEFINITION OF OWN FUNDS
The Commission has asked CEBS to provide technical advice on a number of issues with regard to the definition of own funds. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org
[read more]
30 June 2005
CALL FOR TECHNICAL ADVICE ON DEPOSIT GUARANTEE SCHEMES
The Commission has asked CEBS to provide technical advice on several issues covering the deposit guarantee systems as part of a wide-ranging review of the Directive on Deposit Guarantee Schemes. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org
[read more]
31 May 2005
CEBS ADVICE ON CROSS-BORDER MERGERS AND ACQUISITIONS
CEBS has provided advice on the review of Article 16 of 2000/12/EC (Mergers and Acquisitions) to the European Commission on potential obstacles to cross-border mergers and acquisitions in the EU banking sector.
[read more]
4 April 2005
QUESTIONNAIRE ON CROSS-BORDER MERGERS
CEBS has been asked to provide technical advice to the Commission in order to indicate possible regulatory obstacles to cross-border mergers and acquisitions in the EU banking sector. CEBS is publishing a questionnaire to get an input from the banking industry and other market participants. Comments should be sent to qu@c-ebs.org by 30 April 2005.
4 April 2005
CALL FOR TECHNICAL ADVICE ON E-MONEY
The Commission is asking CEBS to provide technical advice on the question of the application of the E-Money Directive (Directive 2000/46) to mobile phone operators and other "hybrid" e-money issuers. The call for advice is focused on the regulatory treatment of these institutions. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org
18 January 2005
CALL FOR TECHNICAL ADVICE ON MERGERS AND ACQUISITIONS
The Commission is asking CEBS to provide technical advice with a focus on the criteria used by national authorities to oppose acquisition of a qualifying shareholding when they believe that the acquisition could threaten the "sound and prudent management" of the target institution. All interested parties are invited to provide initial comments to CEBS on areas identified in the call for advice by sending an e-mail to info@c-ebs.org.
21 December 2004
CEBS ADVICE ON PRUDENTIAL FILTERS FOR REGULATORY CAPITAL
From the beginning of 2005 European listed companies, at the minimum. CEBS has developed prudential filters for regulatory capital to maintain the current definition - and quality - of regulatory capital.
28 October 2004
CEBS' WORK ON NATIONAL DISCRETIONS
The proposed Capital Requirements Directive contains a large number of regulatory options left open to choose nationally. CEBS has identified more than 140 options and has conducted an intense analysis of how the remaining options are likely to be exercised in Member States and how the number could be reduced.