EBA欧洲银行-2008-05-29-Prmia-Stockholm_14页_293kb

报告摘要

PRMIA Stockholm: Regulation in the Aftermath of the Financial Crisis Summary

Core Content

This document outlines the regulatory developments and initiatives undertaken by the Committee of European Banking Supervisors (CEBS) in the aftermath of the 2008 financial crisis. It highlights the role of CEBS in promoting effective supervision and financial stability across the EU, emphasizing the importance of good supervisory practices, consistency in regulation, transparency, and cross-border cooperation.

Main Tasks of CEBS

CEBS has several key objectives and tasks aimed at ensuring the safety and soundness of the EU financial system:

Promote efficient and effective supervision through good supervisory practices
Enhance cross-border supervision by developing cost-effective approaches for supervising multinational financial groups
Ensure effective regulation and maintain a level playing field across member states
Ensure proportionality in regulatory requirements based on risk and complexity

The main tasks of CEBS include:

Providing advice to the European Commission
Promoting consistent implementation of EU legislation and enhancing supervisory convergence
Facilitating information exchange and supervisory cooperation
Alerting on financial stability to identify and mitigate risks

Regulatory Initiatives

CEBS has been involved in several key regulatory initiatives, including:

Financial Stability Forum (FSF)

Strengthen prudential oversight of capital, liquidity, and risk management
Enhance transparency and valuation practices
Address changes in the role and use of credit ratings
Improve authorities' responsiveness to risk and develop robust arrangements for stress testing

Capital Requirements Directive (CRD) Review

Review and update capital requirements and liquidity standards
Develop guidance on liquidity risk management
Improve transparency and supervision of cross-border groups

Structured Products Transparency

Report and guidance on transparency in structured products
Develop a joint reporting framework for structured products
Engage in dialogue with accounting standard setters to improve valuation guidance for illiquid assets

Credit Ratings and Risk Responsiveness

Review the role of credit ratings in regulations
Promote cooperation among authorities in dealing with financial stress through Memorandum of Understanding (MOU)

Lamfalussy Review

The Lamfalussy review aimed to strengthen the role of CEBS within the EU regulatory framework. Key outcomes include:

Accountability to European institutions
Mandate expansion with an additional EU aspect
Funding through possible EU budget allocation
Qualified Majority Voting (QMV) for certain decisions

The review also focused on:

Strengthening the national application of Level 3 guidelines
Developing guidelines for the operation of Supervisory Colleges
Establishing EU-wide reporting formats
Delegating tasks to national authorities
Considering budgetary support for Level 3 Committees to enhance EU-wide supervisory culture

Supervisory Colleges

CEBS has issued guidelines for home-host cooperation, which include:

A paper outlining best practices for supervisory colleges and home-host cooperation
A template for multilateral cooperation to streamline cross-border supervision

The establishment of Supervisory Colleges aims to:

Facilitate information exchange in both normal and crisis situations
Develop a common understanding of risk profiles
Coordinate supervisory reviews and risk assessments
Ensure coordinated supervisory decisions and activities
Avoid duplication of work
Reduce regulatory burden on financial institutions

Crisis Management

CEBS has contributed to the development of crisis management frameworks, including:

A Memorandum of Understanding (MOU) among Ministries of Finance, Central Banks, and Supervisory Authorities to enhance cross-border preparedness
A framework for assessing systemic implications of financial crises
Practical guidance for crisis management
Consideration of inter-linkages between bank, insurance, and securities markets
Conducting a crisis simulation exercise in 2009 to test preparedness and response mechanisms