EBA欧洲银行-2004_10_30-IASBED7-Financial-Instruments2C20Disclosures-signed_1页_112kb

CEBS Comments on the IASB Exposure Draft 'ED7 Financial Instruments: Disclosures'

Overview

This document is a letter from Jose Maria Roldan, the Chair of the Committee of European Banking Supervisors (CEBS), to Sir David Tweedie, the Chairman of the International Accounting Standards Board (IASB). It outlines CEBS' comments on the IASB Exposure Draft ED7, which focuses on disclosures related to financial instruments.

Core Content

CEBS is a European regulatory body established on 5 November 2003, consisting of high-level representatives from the banking supervisory authorities and central banks of the European Union. Its primary role is to:

• Advise the European Commission on draft implementing measures related to banking activities.
• Promote a consistent implementation of Community Directives.
• Encourage convergence of supervisory practices among EU Member States.
• Enhance supervisory cooperation and the exchange of information.

The document highlights that accounting is a key area of focus for CEBS, and the organization has been actively involved in monitoring developments related to IFRS standards. In particular, CEBS has formed an Expert Group on Accounting & Auditing (EGAA), chaired by Prof Arnold Schilder, to prepare positions on accounting-related issues for European banking supervision.

Main Views and Comments

The comments provided by CEBS on the Exposure Draft ED7 are intended to offer feedback on proposed changes to IFRS standards regarding financial instruments. While the specific content of the comments is not detailed in the letter, the general approach of CEBS is to ensure that any changes to accounting standards are aligned with the needs of banking supervision and contribute to a transparent and consistent regulatory environment.

CEBS emphasizes the importance of disclosure requirements in financial instruments to support effective supervision and risk management. The organization is interested in how the proposed changes might affect the clarity, completeness, and relevance of disclosures for supervisory purposes.

Key Information

• Date: 3 November 2004
• Recipient: Sir David Tweedie, IASB
• Sender: CEBS, represented by Jose Maria Roldan
• Purpose: To provide feedback on the IASB Exposure Draft ED7
• Expert Group: EGAA, chaired by Prof Arnold Schilder
• Sub-Working Group: Led by Patrick Amis, responsible for coordinating the comments
• Contact Information:
  • Prof Arnold Schilder: +31.20.524.3360
  • Arnoud Vossen: +31.20.524.3903
  • Patrick Amis: +33.1.4292.6032

Conclusion

CEBS views the opportunity to comment on the IASB Exposure Draft as a valuable contribution to the development of harmonized accounting standards in Europe. The organization is committed to ensuring that these standards support the objectives of banking supervision, including transparency, consistency, and effective risk management. The comments are expected to be used by CEBS in shaping its positions on financial instruments in the context of European banking regulation.