19 January 2010
The Committee of European Banking Supervisors (CEBS) has launched a consultation on its draft guidelines for the operational functioning of colleges. The consultation is open to all interested parties, including supervised institutions and other market participants.
The revised Capital Requirements Directive (CRD) requires the establishment of supervisory colleges as an instrument for stronger coordination and cooperation whereby competent authorities reach agreement on key supervisory tasks. The colleges are expected to facilitate the handling of ongoing supervision and also to play a role in both the preparation for and handling of emergency situations. This consultation paper responds to the requirements of the revised CRD according to which CEBS should elaborate guidelines for the operational functioning of colleges. In addition, the draft guidelines aim to complement the CRD provisions where additional guidance appears necessary in order to avoid inconsistencies and regulatory arbitrage, which could result from differences in the approaches and rules applied by the various colleges and the application of discretion by Member States.
CEBS has submitted its draft guidelines for a public consultation which runs until 31 March 2010. Comments received will be published on CEBS's website unless respondents request otherwise. Please send your comments to the following e-mail address: email@example.com
A public hearing will be held on Thursday, 11 March 2010 at CEBS's premises in London, from 10.00 a.m. to 1.00 p.m. to allow interested parties to share their views with CEBS.
Registrations should be received by Wednesday, 3 March 2010.