CEBS publishes a summary of the discussions at the public hearing on CP33

In December 2009, the Committee of European Banking Supervisors (CEBS) published its consultation paper (CP33) on its implementation guidelines on capital instruments. The consultation is open to all interested parties, including supervised institutions and other market participants.

The revised Capital Requirements Directive (CRD) introduces explicit rules for the treatment of instruments eligible as capital and, in particular, requirements for their inclusion in institutions' original own funds without limits. The amendments will need to be transposed into Member States' national law by 31 October 2010 and will then be applied from 31 December 2010. This consultation paper is a response to Article 63a (6) of the revised CRD that requires CEBS to elaborate guidelines for the convergence of supervisory practices with regard to the instruments referred to in point (a) of Article 57.

CEBS has submitted its initial views for a public consultation which will run until 31 March 2010. Comments received will be published on CEBS's website unless respondents request otherwise. Please send your comments to the following email address: cp33@c-ebs.org.

A public hearing will be held on Tuesday, 23 February 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, 17 February 2010.

External parties interested in attending this event are strongly advised to limit their representation to one person per organization to allow for a sufficient level of diversity among participants.