EBA欧洲银行-CEBS-2007-18013-02-2008-Final-28Work-Programme29_14页_289kb

CEBS Work Programme Summary for 2008

1. Core Content and Main Tasks

The CEBS (Committee of European Banking Supervisors) Work Programme for 2008 outlines the strategic focus and operational priorities of the committee in enhancing regulatory supervision across the European Economic Area (EEA). It reflects a continued commitment to convergence in supervisory practices, technical advice to the European Commission, and cooperation with national and international authorities. The programme also highlights a shift toward responding more frequently to external requests, particularly from the Commission, and addressing challenges posed by recent market turmoil.

2. Main Areas of Focus

2.1 Regulatory Advice and Externally Driven Work

• Liquidity Risk: CEBS will provide technical advice to the Commission on liquidity risk regimes, including collateral management, concentration of liquidity sources, and internal methodologies. This will be aligned with the Basel Committee and the Banking Supervision Committee (BSC).

  • Timeline: Draft by June 2008, final by October 2008.

• Own Funds: CEBS is tasked with developing common criteria for the inclusion of hybrid capital instruments into Tier 1 capital.

  • Timeline: Draft by December 2007, final by March 2008.

• Large Exposures: CEBS will address issues related to the large exposures regime, including credit risk management, intra-group exposures, and the feasibility of a "one size fits all" approach.

  • Timeline: Draft by December 2007, final by March 2008.

• National Discretions: CEBS will analyze the use of national discretions in the CRD and aim to reduce them for greater harmonization.

  • Timeline: Draft by May 2008, final by October 2008.

• CRD Impact on Economic Cycle: CEBS and the BSC will jointly analyze the effects of the CRD on the economic cycle.

  • Timeline: Final report by September 2008.

• Supervisory Reporting: CEBS will work on improving the commonality of reporting frameworks and reducing reporting burdens for credit institutions and investment firms.

  • Deliverables: Amendments to CEBS Guidelines on remittance dates and reporting frequencies; streamlining of FINREP guidelines.
  • Timeline: June and September 2008.

• Transparency of Securitisation and Structured Products: CEBS will assess the level of transparency in securitisation and structured products under the CRD.

  • Timeline: June 2008.

• Valuation and Risk Management: CEBS will collaborate with accounting standard setters to ensure reliable valuation of assets, especially in times of market stress.

  • Timeline: June 2008.

• Equivalence of Third Countries' Supervision: CEBS will review the 2004 guidance on the equivalence of US and Swiss consolidated banking supervision.

  • Timeline: January 2008.

• Supervisory and Sanctioning Powers: CEBS will conduct a stock take of supervisory and sanctioning powers across member states.

  • Timeline: End of 2008.

• Delegation of Tasks: CEBS will explore areas where task delegation can improve cost efficiency, based on case studies and industry feedback.

  • Timeline: June 2008.

• Implementation of Level 3 Guidelines: CEBS will focus on strengthening the application of Level 3 guidelines through peer review mechanisms.

  • Timeline: June 2008 (with possible follow-up).

• Working Procedures and Decision-Making: CEBS will propose amendments to its Charter to enhance Quality Majority Voting (QMV) and introduce "comply or explain" mechanisms.

  • Timeline: June 2008.

2.2 CEBS Own Initiative Work on Supervisory Convergence

• Liquidity Risk Supervision (Priority): CEBS will develop high-level principles for liquidity risk supervision based on lessons from the 2007 market turmoil.

  • Timeline: December 2008.

• Pillar 2 Implementation Issues (Priority): CEBS will focus on economic capital models (ECMs), diversification benefits, and capital allocation.

  • Deliverables: Range of practices papers, technical annexes, and Q&As.
  • Timeline: December 2008.

• CRD Implementation Issues: Central Counterparties (CCPs): CEBS will develop a comprehensive EU-wide list of eligible central counterparties and common assessment principles.

  • Timeline: February 2008.

• CRD Implementation Issues: CRDTG Queries (Joint Effort with Commission): CEBS will answer technical questions on CRD implementation, posted on a dedicated website.

  • Timeline: Until December 2008.

• Operational Risk: CEBS will review emerging practices in operational risk management, particularly in cross-border groups.

  • Timeline: December 2008.

• Monitoring Minimum Capital Requirements: CEBS and BSC will prepare a preliminary report on the evolution of minimum capital requirements under the CRD.

  • Timeline: December 2008.

• Impact Assessment (Priority): CEBS will contribute to the impact assessment of the large exposures review.

  • Timeline: June 2008.

• Accounting and Auditing Developments: CEBS will monitor and evaluate international accounting and auditing standards and provide input if needed.

  • Timeline: Ongoing, to meet deadlines by IASB/IAASB.

• Convergence of Pillar 3 Implementation: CEBS will address disclosure requirements for significant subsidiaries and develop Q&As on implementation issues.

  • Timeline: June 2008.

• Passport Notifications: CEBS will harmonize passport notification processes for investment services provided by credit institutions.

  • Timeline: December 2008.

2.3 Co-operation and Information Exchange Issues

• Operational Networking (Priority): CEBS will expand its operational networking project to cover more cross-border groups and issues.

  • Deliverables: Range of practices papers, Q&As, and study on operational guidelines.
  • Timeline: Ongoing, with a study due by June 2008.

• Cooperation in Crisis Situations (Priority): CEBS will focus on improving practices and infrastructures for information exchange and supervisory cooperation in crisis scenarios.

  • Timeline: December 2008.

• Cooperation with Third Countries' Supervisors: CEBS will monitor global banking supervision developments and engage in bilateral contacts with supervisors from non-EU countries.

  • Focus: Addressing cross-border issues in Basel II implementation.

3. Key Information and Notes

• CEBS successfully completed its 2007 work programme and is on track to deliver all planned outputs by year-end or early 2008, with minor delays in specific areas.
• The work programme for 2008 reflects a greater emphasis on externally driven tasks, particularly from the Commission, and on addressing the lessons learned from the 2007 US subprime crisis.
• CEBS will continue to strengthen dialogue with market participants and enhance transparency through public consultations and technical exchanges.
• The programme includes both priority and non-priority projects, with the former receiving more attention due to their significance and urgency.
• CEBS will work closely with sister committees (CESR and CEIOPS) and other international bodies to ensure consistency and cooperation across the EEA and globally.