EBA欧洲银行-Annual_report_04_39页_1mb

CEBS 2004 Annual Report Summary

Core Content

The Committee of European Banking Supervisors (CEBS) submitted its first Annual Report in 2004, fulfilling its obligations under the Commission Decision of 5 November 2003 and the CEBS Charter. The report outlines CEBS' operational achievements, future plans, and its role in promoting consistency and convergence in EU banking supervision.

Main Tasks of CEBS

CEBS has three primary tasks:

• Providing advice to the European Commission on EU banking legislation.
• Contributing to consistent implementation of EU legislation across the EU.
• Promoting convergence of supervisory practices and fostering co-operation between national supervisors.

Key Areas of Work in 2004

1. Capital Requirements Directive (CRD)

• The CRD was a major focus, aiming to implement the Basel II capital adequacy framework.
• CEBS worked on drafting guidelines and preparing advice for the Commission.
• The final CEBS Guidelines may need amendments based on changes in the CRD's final version.

2. International Financial Reporting Standards (IFRS)

• CEBS supported the adoption of IFRS, which presented an opportunity for harmonising reporting standards across the EU.

3. Consultation Process

• CEBS conducted public consultations with market participants, consumers, and other stakeholders.
• Consultations were open and transparent, allowing for broader input and feedback.

4. Co-operation and Information Exchange

• CEBS aimed to enhance co-operation between national supervisors.
• The Lamfalussy Framework was central to this effort, promoting convergence and transparency.

Operational Structure

• CEBS was established by Commission Decision of 5 November 2003, effective from 1 January 2004.
• The Secretariat was located in London, starting in October 2004.
• The Chair is nominated for a two-year term, while the Bureau has a two-year mandate (extended to three years initially).
• Andrea Enria was appointed as the Secretary General of CEBS.

Expert Groups and Task Forces

CEBS operates with several expert groups and a joint task force:

Groupe de Contact

• A long-standing expert group for co-operation and information exchange among European banking supervisors.
• Focused on promoting practical co-operation and the sharing of confidential and non-confidential information.

Expert Group on the Capital Requirements Directive

• Reviewed the draft CRD and its revisions.
• Identified policy concerns and worked on reducing national discretions.
• Currently working on advice regarding the own funds provisions.

Expert Group on Common Reporting

• Aimed to develop a common reporting framework for solvency ratios.
• Proposed an XML-based solution and a taxonomy of financial data.
• Prepared communication and consultation processes for the new reporting framework.

Expert Group on Accounting and Auditing

• Focused on prudential aspects of international accounting rules.
• Assessed the impact of IAS/IFRS on supervisors, credit institutions, and investment firms.
• Provided input to the Accounting Regulatory Committee (ARC) and advised the Commission on relevant legislation.

Supervisory Disclosure Task Force

• Developed a common disclosure framework under the CRD.
• Identified four types of information that must be disclosed by supervisory authorities.
• Aimed to enable meaningful comparisons of supervisory approaches across Member States.

Joint Task Force on Crisis Management

• Established with the ESCB's Banking Supervision Committee.
• Focused on improving co-operation in managing financial crises.
• Developed guidance, cross-border networks, and stress-testing exercises for crisis management.

Lamfalussy Framework

• Based on the Lamfalussy report, which proposed a four-level regulatory framework for EU financial markets.
• Level 1 involves framework principles and legislative procedures.
• Level 2 deals with technical implementing measures.
• Level 3 promotes supervisory convergence and co-operation.
• Level 4 ensures enforcement of Community law.

CEBS' Role in the EU Context

• CEBS operates within the broader Lamfalussy framework.
• It works alongside other Level-3 committees such as CEIOPS (Insurance) and CESR (Securities).
• CEBS is supported by the Secretariat and expert groups.
• The European Banking Committee (EBC) and Economic and Financial Committee (EFC) are key components of the new financial services committee structure.

Future Plans

• CEBS will continue to focus on CRD-related issues in 2005, including public consultations.
• Cross-sectoral issues are expected to gain more prominence.
• Co-operation with Level-3 committees will intensify.
• CEBS will maintain a commitment to transparency, accountability, and public engagement.

Conclusion

CEBS has played a crucial role in enhancing supervisory convergence, co-operation, and transparency in the EU banking sector. Its work supports the broader goals of the EU to create a competitive and integrated financial market. The Lamfalussy framework has been instrumental in structuring this effort, and CEBS remains dedicated to fulfilling its mandate through advisory, consultative, and collaborative activities.