EBA欧洲银行-EBA-BS-2012-152-Final-BoS-telco-minutes-BoS-18-June2012PUBLIC_5页_193kb

EBA Board of Supervisors Teleconference Summary

Core Content

On 18 June 2012, the EBA Board of Supervisors held a teleconference to discuss updates and developments in contingency planning at the national level within the European banking sector. The meeting focused on the current state of the banking sector, the progress of the Spanish banking recapitalisation exercise, and the broader implications of deposit volatility and financial market fragmentation in Europe.

Main Points and Discussions

1. Update on Current Developments in the Banking Sector

• Several members provided updates on the banking sector, highlighting the importance of monitoring deposit flows and rating changes.
• The EBA was invited to attend the Steering Committee in Madrid on 15 June 2012, which discussed the recapitalisation of Spanish banks.
• The results of the external consultant's exercise were expected to be published on 22 June 2012.

2. Contingency Planning at National Level

• Bilateral emails were sent to EBA Board members to gather general feedback on the current situation.
• The Chairperson summarised the key points from the responses received, noting a broad agreement that supervisory measures are not particularly effective in addressing adverse scenarios.
• Supervisors across member states are working with national authorities to prepare emergency legislation.
• A significant emphasis has been placed on communication to reassure the public and maintain confidence in the banking system.

3. Role of the EBA in Contingency Planning

• The Chairperson proposed that the EBA should ensure that all national supervisors have contingency plans in place in the event of a significant deterioration in the situation.
• It was acknowledged that while contingency arrangements are in progress in most member states, there are open questions regarding the sufficiency of information exchange at the European level and the appropriateness of EBA involvement.
• A short note summarising the replies from members was proposed to be circulated after the review was completed.

4. Letter to the Council

• The Chairperson mentioned that a letter to the Council would require broad support from the Board members.
• Due to divergent views among members, the EBA decided not to send the letter.
• Instead, the message was agreed to be conveyed at the Ecofin meeting on 22 June 2012, highlighting increased deposit volatility and fragmentation of financial markets.
• The EBA also stated that it has contributed to strengthening banks' capital positions through the recapitalisation exercise.
• It was noted that the EBA would address asset quality issues from a general perspective, including through stress testing, and would be ready to support national processes in Spain and other countries.

Participants

Country Representatives (NCB)

• Austria: Helmut Ettl
• Belgium: Mathias Dewatripont
• Bulgaria: Nelly Kordovska
• Cyprus: Argyro Procopiou
• Czech Republic: David Rozumek
• Denmark: Ulrik Nodgaard
• Estonia:
• Finland: Jukka Vesala
• France: Frederic Visovsky
• Germany: Peter Lutz
• Greece: Ioannis Gousios
• Hungary: Károly Szász
• Ireland:
• Italy:
• Latvia:
• Lithuania: Vytautas Valvonis
• Luxembourg: Norbert Goffinet
• Malta: Andre Camilleri
• Netherlands: Anthony Kruizinga
• Poland: Pedro Duarte Neves
• Romania:
• Slovakia: Vladimir Dvoracek
• Slovenia: Matej Krumberger
• Spain: Cristina Iglesias-Sarria
• Sweden: Uldis Cerps
• UK: Paul Sharma

Institutions and Representatives

• European Commission: Dominique Thienpont
• EBA Staff:
  • Policy Analysis & Coordination: Corinne Kaufman
  • Legal: Joseph Mifsud, Patricia Juanes Burgos
• Executive Director: Adam Farkas
• Director Oversight: Piers Haben
• Director Regulation: Isabelle Vaillant
• Director Operations: Peter Mihalik

Conclusion

The meeting underscored the importance of national-level contingency planning and effective communication in maintaining financial stability. While the EBA has contributed to strengthening banks' capital positions, there remains a need for enhanced information exchange at the European level. The decision not to send the letter to the Council was made due to differing opinions, with the message instead being conveyed at the Ecofin meeting. The EBA remains open to supporting national initiatives in the context of asset quality and stress testing.