EBA欧洲银行-AR2009_37页_1mb

2009 Annual Report of the Committee of European Banking Supervisors (CEBS)

Core Content

The 2009 Annual Report of the Committee of European Banking Supervisors (CEBS) outlines the key activities, achievements, and future steps of the committee during the year. CEBS, established as a Level-3 Committee under the Lamfalussy process, has been instrumental in shaping the regulatory and supervisory landscape in the European Union, particularly in response to the financial crisis.

Main Views and Key Information

1. CEBS's Role and Objectives

• CEBS serves as an independent body for reflection, debate, and advice to the European Commission.
• It contributes to the consistent and uniform implementation of Community legislation across banking regulation and supervision.
• CEBS provides regular assessments of the EU banking sector to the Commission, the Council, and the European Parliament.

2. CEBS's Organisation

• CEBS is composed of a plenary of high-level representatives from EU banking supervisory authorities and central banks.
• The Bureau, consisting of the Chairman, Vice Chair, and four other members, supports the strategic planning and administrative functions of the committee.
• The Secretariat, based in London, supports the operational and administrative functions, with Mr. Arnoud Vossen as Secretary General and Mr. Patrick Amis as Deputy Secretary General.

3. Work and Progress in 2009

• CEBS continued its efforts to enhance convergence in supervisory practices across the EU.
• The committee was actively involved in the regulatory debate, particularly in response to the financial crisis, and contributed to the development of several key guidelines and position papers.
• CEBS coordinated the first EU-wide forward-looking stress test of the banking system, focusing on the resilience of the financial sector and the risks and vulnerabilities of major cross-border banking groups.

4. Key Achievements

• Guidelines on Remuneration and Internal Governance: CEBS published high-level principles on remuneration and enhanced guidelines on internal governance, contributing to the regulatory framework.
• Stress Testing and Risk Assessment: CEBS conducted the first pan-European stress testing exercise, using a bottom-up approach and common scenarios, and submitted results to ECOFIN.
• Convergence of Supervisory Practices: CEBS worked on the convergence of supervisory practices, including the functioning of supervisory colleges and the coordination of joint decisions.
• Regulatory and Supervisory Framework Improvements: CEBS issued guidelines on large exposures, liquidity risk management, and concentration risk, as well as advice on minimum retention requirements for securitizations.
• Financial Information and Transparency: CEBS developed disclosure guidelines, assessed Pillar 3 disclosures, and focused on the transparency of financial reporting.

5. Collaboration and Cross-Sectoral Work

• CEBS collaborated closely with its sister committees, CESR and CEIOPS, and coordinated with the European Commission and the European Central Bank.
• It participated in the development of a new EU financial supervision framework, including the creation of the European Banking Authority (EBA), and supported the transition from the 3L3 model to the EBA.
• CEBS also worked on the harmonization of EU terminology and the promotion of a common supervisory culture.

6. Future Steps and Transition to EBA

• CEBS is preparing for the transition into the EBA, following an evolutionary approach to ensure "uninterrupted continuation".
• In 2010, CEBS will continue its work on stress testing, risk assessment, and the enhancement of the regulatory framework.
• It will also focus on the transition of its responsibilities to the EBA and the calibration of new regulatory standards through a quantitative impact study (QIS).

Summary of Key Documents and Activities

• High Level Principles on Remuneration (Section 4.2.3.6)
• Draft Guidelines on Concentration Risk (Section 4.2.3.9)
• Draft Guidelines on Stress Testing (Section 4.2.3.8)
• Position Paper on a Countercyclical Capital Buffer (Section 4.2.3.9)
• Advice on Minimum Retention Requirement for Securitizations (Section 4.2.3.9)
• Guidelines on Hybrid Capital Instruments (Section 4.2.1.1)
• Guidelines on Instruments Referred to in Article 57(a) (Section 4.2.1.2)
• Guidelines on Operational Risk Mitigation Techniques (Section 4.1.2.1.2)
• Guidelines on Operational Risk Management in Market Related Activities (Section 4.1.2.1.3)
• Pillar 3 Disclosures Report (Section 4.3.2.3)
• Revised FINREP and COREP (Section 4.3.3.2 and 4.3.3.3)
• Quantitative Impact Study (QIS) (Section 3.2.1 and 3.2.2)

Conclusion

The 2009 Annual Report of CEBS highlights the committee's proactive role in shaping regulatory and supervisory practices in the EU. It underscores the importance of convergence, transparency, and crisis management in the face of the financial crisis, while also outlining the transition to the EBA and the continued work on enhancing the EU's financial architecture.