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CEBS Guidelines on Supervisory Disclosure Summary

Core Content

The CEBS (Committee of European Banking Supervisors) guidelines establish a common European framework for supervisory disclosure, aimed at enhancing transparency and accountability in banking supervision. This framework is designed to support the integration of European financial markets by promoting consistent implementation of EU legislation and convergence of supervisory practices across the EU.

Main Objectives

• Enhance the effectiveness of supervision: By facilitating interaction between institutions and competent authorities, addressing the need for clarity and transparency, and ensuring easy access to disclosed information.
• Promote a level-playing field across Europe: By enabling meaningful comparisons of supervisory approaches and fostering convergence in practices.

Key Information

Scope and Implementation

• The framework focuses on the provisions of the Capital Requirements Directive (CRD) related to Basel II, as well as own funds and internal control mechanisms.
• It does not include information on individual institutions, only general supervisory practices.
• The framework is structured to cover four main areas:
  • Rules and guidance
  • Options and national discretions
  • Supervisory review
  • Statistical data

Structure of the Framework

• The framework is divided into a two-tiered architecture:

  • CEBS website: Provides summary tables for cross-country comparisons.
  • National supervisory authority websites: Offer detailed information on national practices.

• A common format is recommended, using standardised information tables that are accessible via the Internet. This includes:

  • Links between CEBS and national websites.
  • Clear and consistent templates for disclosure.
  • The use of hyperlinks rather than direct duplication of texts to ease updates and reduce administrative burden.

Implementation Timeline

• Qualitative information: Targeted for implementation by year-end 2006.
• Statistical data: Targeted for implementation by mid-2008.
• The framework is subject to regular monitoring by CEBS, with an annual report provided to the European Commission.

Language and Accessibility

• The framework is written in English, the working language of CEBS.
• Information on national websites will be made available in national language first, followed by English translations.
• A disclaimer is recommended for national websites to avoid unintended legal liability from translations.

Templates and Flexibility

• CEBS has developed tentative templates for the information tables, which are subject to revision based on the final version of the CRD and other CEBS work streams.
• The templates are not mandatory and provide technical flexibility, allowing national authorities to use existing disclosure systems or adapt them as needed.
• National authorities are free to choose between:
  • Linking CEBS-formatted tables to national documents.
  • Displaying short texts directly in the tables.

Confidentiality and Privacy

• The framework does not override the confidentiality principle.
• Supervisory actions or decisions directed at specific institutions are not disclosed.
• Only aggregate data that does not allow derivation of institution-specific information is disclosed.
• Competent authorities retain sole responsibility for determining what information can or cannot be disclosed.

Conclusion

The CEBS supervisory disclosure framework is a foundational step toward greater transparency in the European banking sector. It supports the objectives of the CRD and the Basel Committee by enabling meaningful comparisons across Member States, promoting sound governance, and ensuring consistency in supervisory practices. The framework is designed to be flexible, user-friendly, and technically feasible, with an emphasis on accessibility and standardisation. It is expected to evolve in line with future regulatory changes and will be regularly reviewed and updated by CEBS.