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CEBS' Guidelines for the Operational Functioning of Supervisory Colleges (GL 34) Summary

Core Content

The CEBS Guidelines for the Operational Functioning of Supervisory Colleges (GL 34) aim to enhance the effectiveness and efficiency of supervision for cross-border banking groups by promoting cooperation and coordination among supervisory authorities. These guidelines are designed to align with the revised Capital Requirements Directive (CRD), particularly Articles 42, 42a, 129, 131, 131a, and 132, and are intended to be implemented by 31 December 2010.

Main Objectives

• To ensure consistency and coordination in the supervision of cross-border banking groups.
• To facilitate information exchange among supervisors and with supervised institutions.
• To enhance cooperation in both normal and emergency situations.
• To support joint decision-making on model validation and risk-based capital adequacy.
• To take into account macro-prudential risks and ensure group-wide supervision.

Key Points

1. Supervisory Colleges Definition

• Supervisory colleges are permanent, flexible structures for cooperation among supervisory authorities.
• They are established under the consolidating supervisor or home supervisor depending on the group's structure.
• The consolidating supervisor is responsible for the operational organisation of the college.

2. Structure and Membership of Colleges

• The consolidating supervisor should map the group’s entities to determine the structure and membership.
• The college may be divided into core and general settings based on the number and relevance of entities.
• Core college involves supervisors of the most relevant entities.
• General college is responsible for information sharing and risk assessment planning.

3. Membership Criteria

• Relevance and significance of entities determine the level of participation.
• Relevance factors include:
  • Contribution to group performance and earnings.
  • Risk profile of the entity.
  • Group's organisational structure and risk management.
  • Autonomy of entities.
  • Risk correlation across entities.
• Significance factors include:
  • Market share (assets or liabilities).
  • Role in specific markets.
  • Importance to the financial system infrastructure.
  • Liquidity provision to the market.

4. Non-Fully-Fledged Colleges

• Non-fully-fledged colleges are proportionate to the group's needs.
• They are appropriate when the group has less than two relevant or significant entities.
• The guidelines apply comprehensively to fully-fledged colleges and proportionally to non-fully-fledged ones.

5. Joint Decision Processes

• Model validation and risk-based capital adequacy decisions are made jointly among EEA supervisors.
• Non-EEA supervisors may participate in certain activities if their confidentiality requirements are equivalent to those in the CRD.

6. Written Arrangements

• Written arrangements are required for the operational functioning of the college.
• These arrangements should be based on the CEBS Template for Multilateral Cooperation and Coordination Agreements.
• All EEA supervisors involved should sign the agreement, without conditions.
• Non-signatory EEA authorities may still be members, but may be excluded from certain activities if it does not affect supervision effectiveness.

7. Implementation and Harmonisation

• The guidelines should be implemented by 31 December 2010.
• CEBS will conduct an implementation study one year after the implementation date to ensure harmonisation across Member States.

Main Chapters Overview

Key Information

• Supervisory colleges are essential for cross-border supervision and are promoted globally, especially after the financial crisis.
• Consolidating supervisor leads the college and is responsible for mapping the group's entities and deciding on the structure.
• Home supervisor is responsible for institutions operating through branches in other EEA Member States.
• Host supervisor refers to supervisors of subsidiaries and branches.
• Non-EEA supervisors may participate in the college if their confidentiality requirements are equivalent to those in the CRD.
• Voluntary sharing and delegation of tasks are encouraged to optimise resources and avoid duplication.
• Macro-prudential risks and sectoral developments are taken into account in the supervision process.
• Coordination of supervisory activities is crucial in both going concern and emergency situations.
• The CEBS Template is used as a basis for written arrangements and multilateral cooperation.

Annexes

• Annex 1 provides a basic organisation model for colleges with multiple settings.
• Annex 2 outlines a website platform framework for information exchange.
• Annex 3 includes a template for a coordinated supervisory plan.
• Annex 4 describes the joint assessment process for cross-border groups' capital adequacy.