CEBS extends the deadline for responses to questionnaire on large exposures

On 23 March 2006 CEBS published a questionnaire addressed to market participants in order to respond to the European Commission?s call for advice on large exposures rules. Following industry concerns related to tight timeline the Commission has now agreed to extend the deadline for submission of the technical advice.

Consequently, CEBS has extended the timeline by one month for market participants to respond to the questionnaire. The revised deadline is now 16 June 2006.

The questionnaire aims at covering the full range of banking and trading activities. Questions have also been devised to give consideration to the needs of both smaller and larger institutions. Based on the results of the questionnaire CEBS will publish a report of industry practices and thinking in relation to the measurement and management of concentration risk.

The information collected should allow assessing whether revisions in the current rules are warranted. Further rounds of consultations could then be envisaged.