The Level 3 committee publishes "good practices" for EU supervisory colleges
LONDON - The Committee of European Banking Supervisors (Cebs) has released its guidelines for supervisory colleges of cross-border EU banking groups.
The Cebs paper, 'Guidelines for co-operation between consolidating supervisor and host supervisors', tries to benchmark good practices for the functioning of the colleges, with the aim of improving supervisory co-operation between home and host authorities engaged in cross-border banking supervision.
Cebs has pioneered work on supervisory colleges since 2006. Colleges were flagged by February's Larosière report as one of the measures needed to strengthen microeconomic supervision for systemically important EU banks. The report also recommended that Cebs evolve into a European banking authority endowed with supervisory powers.
The current document restricts itself to guidelines for colleges under their present legislative mandate. Cebs says it reflects some good practices already established within existing colleges by some EU supervisors and other areas of co-operation still in development.
The paper can be read here.
More on Regulation
Isda AGM: Proposed trading book rules are “nuts” says BNP Paribas’ Ramambason
Isda AGM: Hedge fund plans to share non-cleared swaps around to reduce trading costs
Isda AGM: Canadian banks will start reporting LCR in second quarter
IMF argues redemption policy regulation should address illiquid assets
Sign up for Risk.net email alerts
Sponsored video: Elseware
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
Watch highlights of this year's London conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.