EBA欧洲银行-Summary-of-the-CP29-hearing_2页_139kb

Summary of CEBS's Public Hearing on the Extension of the Supervisory Disclosure Framework (CP 29)

Core Content

On 5 October 2009, the Committee of European Banking Supervisors (CEBS) conducted a public hearing to present its draft proposals for extending the Supervisory Disclosure Framework (SDF). The hearing was chaired by Karol Gabarretta, the Chair of the Task Force on Supervisory Disclosure, with support from the Secretariat and other Task Force members. Approximately 10 representatives from financial institutions, banking associations, and supervisory authorities participated and contributed to the discussion.

The existing SDF, developed by CEBS, has been implemented at both EU and national levels since early 2007. Its primary purpose is to ensure timely and transparent disclosure of information related to prudential rules and supervisory criteria to all interested parties, including credit institutions, investment firms, market participants, supervisors, and consumers.

Main Areas of Extension

CEBS decided to extend the SDF to other areas of EU banking legislation in 2009. The focus of the extension was on the following key areas:

• Mergers & Acquisitions
• Securitisation
• Credit Risk Mitigation
• National Discretions
• Pillar 2, Pillar 3 and Colleges

2.1 Mergers and Acquisitions

• The proposed templates aim to harmonize disclosure requirements across the EU.
• Obligations remain subject to national legislation, but the templates provide a standardized format.
• The templates are aligned with the 3L3 guidelines, which offer a single list of information for national authorities.
• National authorities may still include additional options related to M&A on their own websites, as is currently practiced.

2.2 Securitisation

• The extension includes quantitative data on securitisation, which is the only type of data included in this part of the framework.
• The data is aggregated, and the frequency of updates was discussed.
• It was noted that the information could be disclosed more frequently if needed.
• Some participants felt that more qualitative information on securitisation would be beneficial.

2.3 Pillar 3

• CEBS emphasized that the supervisory disclosures in this area aim to provide stakeholders with insight into how supervisory authorities have implemented Pillar 3 principles.
• These disclosures are intended to increase transparency and market understanding of regulatory practices.

2.4 General Comments

• Qualitative information was called for, particularly in the context of securitisation.
• Concerns were raised about quality controls in the national options and discretions template, as not all supervisory authorities are publishing the same level of information on CEBS's website.
• A question was raised about whether the extension would include amendments to the Capital Requirements Directive (CRD), such as CRD III and IV.
  • CEBS clarified that these amendments will be automatically incorporated into the Rules and Guidance section of the SDF.
• Hybrids (i.e., hybrid instruments) were not included in the extension, as the framework does not cover all areas addressed by CRD II.
  • The extension focuses on national discretions and securitisation amendments.

Key Information

• The SDF extension aims to enhance transparency and information sharing among stakeholders.
• The framework is designed to be flexible, allowing national authorities to include additional information where relevant.
• The extension is aligned with regulatory developments and market needs.
• The 3L3 guidelines play a central role in ensuring harmonization across the EU.
• The inclusion of quantitative data on securitisation was noted, but there is a call for more qualitative data to improve understanding.
• The Rules and Guidance section of the SDF will be updated to reflect amendments to CRD, including CRD III and IV.

Conclusion

The CEBS public hearing on the extension of the Supervisory Disclosure Framework reflects an ongoing effort to improve transparency and harmonization in EU banking regulation. The proposed extensions cover a range of areas, including M&A, securitisation, and Pillar 3, with a focus on aligning disclosures with evolving regulatory and market conditions. While the framework remains subject to national legislation, it aims to provide a common reference point for supervisory disclosure across the EU.