2014年-EBA欧洲银行管理局_AR2009_37页_1mb

CEBS 2009 Annual Report Summary

Core Content

The Committee of European Banking Supervisors (CEBS) published its 2009 Annual Report, outlining its key activities, contributions to regulatory reform, and preparations for the transition to the European Banking Authority (EBA). The report highlights CEBS's role in enhancing the regulatory and supervisory framework in Europe, particularly in response to the financial crisis.

Main Views and Key Information

1. Introduction and Context

• CEBS was established as a Level-3 Committee under the Lamfalussy process in 2003 and updated in 2009.
• The report was submitted to the European Commission, Council, and European Parliament in accordance with EU regulations.
• CEBS has been focused on the implementation of Basel II in the EU and the development of guidelines to support the Capital Requirements Directive (CRD).

2. CEBS's Organisation

• CEBS operates through a plenary composed of high-level representatives from EU banking supervisory authorities and central banks.
• The Bureau, consisting of the Chairman, Vice Chair, and four other members, prepares strategic matters and supports the plenary.
• The Secretariat, based in London, provides operational and administrative support. Mr. Arnoud Vossen and Mr. Patrick Amis were appointed as Secretary General and Deputy Secretary General respectively.
• CEBS works with three expert groups: Groupe de Contact (GdC), Expert Group on Prudential Regulation (EGPR), and Expert Group on Financial Information (EGFI), along with their sub-groups and task forces.

3. Work Undertaken in 2009 and Progress Made

3.1 Progress in the Institutional Setting of Supervision in Europe

• CEBS contributed to the EU's response to the financial crisis by providing input on the reform of financial supervision.
• The de Larosière Group, established in 2008, led to the publication of a report in February 2009, which influenced the Commission's legislative proposals.
• CEBS supported the transformation of 3L3 Committees into European Supervisory Authorities (ESAs), emphasizing an evolutionary approach to ensure continuity and independence.

3.2 CEBS's Response to the Crisis

3.2.1 EU-Wide Stress Testing and Risk Assessment

• CEBS conducted the first pan-European bottom-up stress testing exercise for 22 major cross-border banking groups in 2009.
• The results were reported to ECOFIN and published on CEBS's website.
• In 2010, CEBS will continue its work on micro-prudential analysis and stress testing, integrating findings into joint assessments by supervisory colleges and preparing for the EBA's responsibilities.

3.2.2 Contribution to Global Regulatory Debate

• CEBS provided guidance on several key regulatory topics, including countercyclical capital buffers, operational risk, and liquidity buffers.
• It issued guidelines on remuneration, internal governance, and risk management.
• CEBS also contributed to discussions on the effectiveness of minimum retention requirements for securitizations and the convergence of supervisory practices.

3.2.3 Enhancing Crisis Prevention and Management

• CEBS analyzed the supervisory implications of national stabilization plans, emphasizing the need for greater convergence and exchange of information.
• It published a report mapping supervisory objectives and powers across EU member states, highlighting the need for a common legal definition of "sanction" and more unified tools for crisis management.
• CEBS participated in the Commission's consultation on deposit guarantee schemes and provided input on crisis management frameworks, focusing on early intervention and co-operation between competent authorities.

3.3 The Convergence of Supervisory Practices

• CEBS worked to promote convergence across five key areas:
  • Supervisory Colleges
  • Implementation of the CRD
  • Risk Management
  • Financial Information and Disclosures
  • Cross-sectoral co-operation

Supervisory Colleges

• CEBS played a key role in establishing and enhancing supervisory colleges, which are legal requirements under the CRD II.
• By the end of 2009, 33 colleges had been set up, with plans to increase this number further.
• Guidelines for the convergence of supervisory practices and joint decisions on Pillar 2 provisions were issued for consultation.

4. CEBS's Achievements in 2009

• CEBS contributed to the development of numerous guidelines and recommendations, including:
  • High Level Principles on Remuneration
  • Draft Guidelines on Concentration Risk
  • Draft Guidelines on Stress Testing
  • Advice on the Effectiveness of Minimum Retention Requirements for Securitizations
  • Revised FINREP and COREP
  • Guidelines on Common Reporting of Large Exposures
• CEBS also focused on improving transparency and financial information, including:
  • Disclosure guidelines based on lessons from the financial crisis
  • Reports on Pillar 3 disclosures
  • Work on a single reporting framework

5. Cross-sector Work and Common Supervisory Culture

• CEBS engaged in cross-sectoral work with its sister committees (CESR and CEIOPS), including:
  • 3L3 Committee meetings
  • Task forces on cross-sectoral risks, anti-money laundering, and financial conglomerates
• CEBS emphasized the importance of a common supervisory culture, including:
  • Peer pressure and review panels
  • Mediation mechanisms
  • Staff exchanges and training programs

6. Future Steps and Transition to EBA

• CEBS is preparing for its transition into the European Banking Authority (EBA) in 2011, following the legislative proposals introduced in 2009.
• CEBS will continue to contribute to the development of the EBA, ensuring that the transition is smooth and uninterrupted.
• In 2010, CEBS will focus on:
  • Further stress testing and risk assessment
  • Developing a common minimum toolbox for cross-border crisis management
  • Enhancing transparency and reporting standards
  • Monitoring the impact of Basel Committee proposals and EU regulatory changes