EBA欧洲银行-2004_07_28-20EGAA-20letter-20from-20IASB_amendment_1页_186kb

CEBS Comments on IASB Exposure Draft: Amendments to IAS 39

Overview

The Committee of European Banking Supervisors (CEBS) has provided comments on the International Accounting Standards Board (IASB)'s Exposure Draft proposing amendments to IAS 39, Financial Instruments: Recognition and Measurement – The Fair Value Option. This document outlines CEBS' position on the proposed changes, emphasizing the importance of consistent implementation and convergence of supervisory practices across the European Union.

Core Content

The Exposure Draft seeks to amend IAS 39 regarding the use of the fair value option for financial instruments. CEBS acknowledges the importance of these amendments and the opportunity to provide feedback on the evolution of IFRS standards, particularly in the context of European banking supervision.

Main Views and Positions

CEBS highlights the following key points in its comments:

• Accounting as a Key Area: CEBS recognizes the significance of accounting in banking supervision and supports the IASB's efforts to refine financial instrument accounting standards.
• Role of CEBS: CEBS, established on 5 November 2003, is responsible for advising the European Commission on banking activities, contributing to the consistent implementation of Community Directives, and enhancing supervisory cooperation across EU member states.
• Expert Group Involvement: The comments were prepared by the Expert Group on Accounting & Auditing (EGAA), which is responsible for monitoring developments in accounting and auditing standards. The Sub-Working Group under EGAA, led by Patrick Amis from the Commission Bancaire, coordinated the development of the comments.
• Support for Dialogue: CEBS expresses appreciation for the opportunity to engage in the dialogue on the proposed amendments and is open to further discussions to ensure alignment with European banking regulatory needs.

Key Information

• Date of Comments: 28 July 2004
• Recipient: Sir David Tweedie, IASB
• Sender: CEBS, chaired by Jose Maria Roldan
• Contact Information:
  • Prof Arnold Schilder: +31.20.524.3360
  • Arnoud Vossen: +31.20.524.3903
  • Mr Patrick Amis: +33.1.4292.6032

Conclusion

CEBS views the proposed amendments to IAS 39 as an important step in improving the consistency and transparency of financial instrument accounting. The comments reflect a collaborative approach between CEBS and the IASB, with a focus on aligning international standards with the practical needs of European banking supervision. The committee remains committed to contributing to the convergence of supervisory practices and the enhancement of regulatory coherence across the EU.