European supervisors release Pillar III workshop findings

LONDON - The Committee for European Banking Supervisors (CEBS) has released the findings of last year's survey and its resultant workshop on the implementation of Pillar III of the Basel II Accord .

The workshop was held by the CEBS expert group on financial information (EGFI), with speakers from Royal Bank of Scotland, credit rating agency Standard & Poor's and an audience comprised of national regulators, representatives of banks, trade associations, rating agencies and the European Central Bank.

EGFI chairman Arnoud Vossen opened by stressing the CEBS's preference for a practical solution to the application of disclosure requirements. He highlighted the need for non-prescriptive, industry

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