CEBS received a request from the Banking Advisory Committee in early 2004 to analyse how these options are likely to be exercised in Member States and how the number could be reduced. CEBS's analysis has been sent to the Council Working Group and to the Commission to be used as a basis for a suggestion to the Commission as to which discretions could be removed from the draft directive proposal.
CEBS continues its work in finding ways to implement the results into the Directive text also at a later stage, in particular when the Directive will already have been adopted by the Council and the European Parliament. CEBS will also continue its work on national discretions with a view to provide possible advice on the ways for their further reduction. CEBS Consultative Panel has agreed to support CEBS in finding new ways to reduce the number of different options.