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) today publishes its methodology for the assessment of the equivalence of third countries’ confidentiality provisions to the CRD.
CEBS has today published the final text of its Guidelines for the joint assessment of the elements covered by the supervisory review and evaluation process and joint decision regarding the capital adequacy of cross-border groups (GL 39).
These guidelines are designed to promote an efficient supervisory framework for groups that operate in several EU jurisdictions and, in particular, at enhancing cooperation between consolidating supervisor and host supervisors. They contain sections on general cooperation, distinguishing between subsidiaries and branches, and guidance related, among other things, to the approval process of model validation. These guidelines are the starting point of substantial developments in the supervision of cross –border groups and have let to the establishment of operational network mechanisms.
Committee of European Banking Supervisors publication - Methodology for the assessment of the equivalence of Third Country Professional Secrecy Standards with the Capital Requirements Directive for the purposes of EEA colleges (15 June 2010)
Guidelines for the operational functioning of colleges (GL34)
Committee of European Banking Supervisors Report - CEBS Report of the Peer Review on the Functioning of Supervisory Colleges (18 October 2010)
Committee of European Banking Supervisors publication - Template for a Multilateral Cooperation and Coordination Agreement on the Supervision of XY Group (27 January 2009)