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CEBS is publishing today the findings of an analysis it has carried out with regard to prudential filters. In December 2004 CEBS issued its guidelines on the use of prudential filters for regulatory capital. The objective of these prudential filters is to maintain the definition and quality of regulatory capital for institutions using IFRS for prudential reporting. The analytical report issued today aims to assess CEBS' members compliance with these guidelines and to present their impact in quantitative terms on regulatory own funds. It also provides a basis for discussion on the possible scope for further convergence of these filters. CEBS will present and discuss the report and its conclusions at a public hearing scheduled for 16 October.

The Committee of European Banking Supervisors (CEBS) is publishing today a Protocol for a mediation mechanism, after having submitted it for public consultation on 19 March 2007. The objective is to facilitate and speed up the supervisory procedures set out in the Capital Requirements Directive and to support the application of the pre-existing cooperation tools among supervisors such as the CEBS Guidelines on validation and on home/host cooperation. CEBS reiterates its commitment to using all tools at its disposal, including mediation, to achieve further convergence and reduce the supervisory burden of cross-border banking groups.

CEBS has published today a study to assess the level of convergence achieved by the introduction of the CEBS Guidelines on Reporting, approved in December 2005 and January 2006 with the objective of building a harmonised prudential financial reporting framework based on IAS/IFRS and a common reporting system of the new solvency ratio within the European Union . The aim of this study is to provide a first overview of the progress made in this area; in addition, it has helped to identify areas where further convergence of supervisory practices should be possible. As a further contribution to enhance the dialogue with the banking community in this respect, the report will be presented and discussed at a public hearing organised by CEBS on 26 October 2007 about future developments on supervisory reporting.

Mr. Arnoud Vossen, Secretary General of the Committee of European Banking Supervisors (CEBS) speaks on Supervisory Structures at the BBA Annual Supervision Conference.

The Interim Working Committee on Financial Conglomerates (IWCFC) will hold an industry hearing at CEBS’ office in London on 16th December 2008 from 13:00 to 15:30 to enable industry stakeholders to comment on the progress made by the IWCFC.

The Committee of European Banking Supervisors (CEBS) today publishes an assessment of the prudential risks arising from the conduct of commodities business and the activities of firms carrying out commodities business. The report responds to the second part of a Call for Advice issued by the European Commission in August 2006 and concludes CEBS technical advice on the Review of commodities business under Article 48 of Directive

The Committee of European Banking Supervisors (CEBS) organised a public hearing on 16 October 2007, open to all interested parties to present the outcome of a study carried out on the implementation and on the impact of prudential filter. The objective of the event was to share CEBS’s findings with the industry and other stakeholders and to hear their views and reactions on the report, on issues and problems identified with regard to prudential filters and on any aspects that may be of importance for possible future developments in that area.

The Committee of European Banking Supervisors (CEBS) held an Open Hearing on 26 October 2007 to discuss the present situation and to gather input for the future developments on supervisory reporting. The event was chaired by Arnoud Vossen and Ludger Hanenberg, chairs of the Expert Group on Financial Information and of the Subgroup on Reporting, respectively. A large number of market participants including individual commercial banks and banking associations from different Member States contributed to the constructive discussion held.

The presentation of Mrs. Kerstin af Jochnick, Chair of the Committee of European Banking Supervisors (CEBS), in the Austrian Federal Economic Chamber (WKO), in Vienna

The Committee of European Banking Supervisors (CEBS) today starts a public consultation on its Compendium of Supplementary Guidelines on implementation issues of operational risk (the Compendium).

The 3 Level 3 Committees (CESR, CEBS and CEIOPS) publish today their joint "Consultation Paper on the 3 Level 3 Committees' Medium Term Work Programme" (2008-2010). Building on the experience of the joint work and cooperation between the three Committees in their three common years of existence, and the creation of the Joint Protocol on Cooperation that the three Committees entered into two years ago. The three Committees wish to take the opportunity in the ongoing review of the Lamfalussy process to contribute to the discussion on the possible ways to enhance regulatory and supervisory consistency across sectors. In the 3L3 Medium Term Work Programme, the Committees have identified a comprehensive list of cross-sector areas for delivery in the period to the end of 2010 – the 'medium term', and six key areas for work within this three year period. The Committees would welcome input from the financial industry, investors and all other stakeholders regarding what they would most like to see addressed in a three Level3 setting in the medium term perspective. Comments on the key areas, the work programme in general, and other issues raised, are invited by 18 January 2008. Answers should be posted on the website of CESR, www.cesr.eu under the area indentified as "Consultations" in the menu.

The Committee of European Banking Supervisors (CEBS) today starts a public consultation on a number of aspects of the large exposures regime as part of developing its response to the European Commission's Second Call for Advice. The consultation is open to all interested parties, including supervised institutions and other market participants. This consultation paper sets out CEBS’ preliminary views on the issues included in Part 2 of the European Commission’s Call for Advice. It also includes a summary of CEBS’ key findings from Part 1 of its Advice to allow respondents to have a complete understanding of the overall review of the large exposures rules. CEBS submits its initial views for a public consultation which starts today and runs until 22 February 2008. Comments received will be published on CEBS’ website unless respondents request otherwise. Please send your comments to the following e-mail address: cp16@c-ebs.org. A public hearing is being organised on 15 January 2008 at CEBS premises in order to allow all interested parties to highlight their comments to CEBS.

The three Level 3 Committees have updated their protocol coordinating their joint 3L3 activities, in order to take into account the increasing importance attached to the coordination between the three Committees and agreed a formal procedure to facilitate the coordination of joint 3L3 activities.

Mr. Arnoud Vossen, Secretary General of the Committee of European Banking Supervisors (CEBS) speaks on CEBS work on behalf of ECOFIN at the BBA Annual Accounting Conference.

The Committee of European Banking Supervisors (CEBS) is publishing today a consultation paper on its proposals for a common EU definition of Tier 1 hybrids. Hybrid capital instruments may mix features of both debt and equity and can be considered as eligible as original own funds (‘Tier 1’) in the EEA provided that they meet certain criteria. The objective is not to elaborate a brand new definition of eligible hybrids but to provide guidelines for a common and clear interpretation across the EU of the international standards issued by the Basel Committee for Banking Supervision in 1998 (“the Sydney Press Release”). Such standards have not yet been reflected in the EU legislation. CEBS proposals have been elaborated in response to the European Commission’s letter of April 2007. CEBS invites all interested party to examine the proposals and to send their comments to “cp17@c-ebs.org” by 22 February 2008.

Mme Dani?le Nouy, Secretary General of the French Banking Commission (Commission Bancaire), has been elected Chair of the Committee of European Banking Supervisors (CEBS).

CEBS has started a second round of public consultation on some aspects of the validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms to calculate their capital requirements. The consultation runs until 16 February 2006

CEBS has published guidelines on cooperation between supervisors of EU banking groups and investment firms. The guidelines are designed to promote an efficient supervisory framework for groups that operate in several EU jurisdictions, by enhancing the practical operational networking of national supervisors.

The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) have published a common cross-sector work programme for 2006. This work programme builds further on the Joint Protocol signed by the three Committees on 24 November 2005.