EBA欧洲银行-22-April-2009_OpRisk-Europe-Event_Arnoud-Vossen_9页_287kb

OpRisk Europe Event Summary

Event Overview

The OpRisk Europe Event took place on 22 April 2009 in London, featuring Arnoud Vossen, Secretary General of the Committee of European Banking Supervisors (CEBS). The event provided an update on EU regulation and policy, focusing on the lessons learned from the implementation of Basel II and the future direction of banking supervision in Europe.

Core Content

The event covered several key areas of EU banking supervision, including the legal framework, disclosure practices, and the role of supervisory colleges. It also addressed other considerations such as liquidity risk management, remuneration schemes, and stress-testing.

EU Legal Framework

• ONE Basel II in every member state: Ensuring a consistent application of Basel II across all EU countries.
• Supervisory and sanctioning powers: Clarifying the responsibilities and authority of supervisory bodies.
• Common deposit guarantee scheme: Establishing a unified system for deposit insurance.
• Lender of last resort: Defining the role of central banks in providing emergency liquidity.
• Burden sharing: Discussing how to fairly distribute the responsibilities of supervision among member states.

Disclosures

• TRUST framework: Emphasizing the importance of transparency and relevance in disclosures.
• Focus on what's important vs compliance: Encouraging a strategic approach to disclosure rather than mere adherence to rules.
• Business model - risk management - valuation: Highlighting the need for comprehensive and integrated disclosure practices.
• Exposures at risk - losses: Focusing on the disclosure of risk-related exposures and potential losses.
• Holistic approach: Advocating for a broader perspective that integrates quantitative and qualitative data.
• Good observed practises: Sharing best practices in disclosure management.
• Quantitative vs qualitative disclosures: Balancing both types of information to provide a complete picture of risk.

Supervisory Colleges

• Purpose: Facilitating cross-border supervision and coordination between EU and global banks.
• Function: Connecting national supervisors with major banks to enhance decision-making.
• Need for consistency: Ensuring that banks apply similar standards and practices across different jurisdictions.
• EU joint assessment process under BII PII: A mechanism for assessing banks collectively within the EU.
• Coordinated PII add-ons: Enhancing the process with additional coordinated assessments.

Other Considerations

• Liquidity risk management: Importance of managing liquidity risks effectively.
• Remuneration schemes: Ensuring that compensation structures do not encourage excessive risk-taking.
• Non-risk based metric: Addressing the need for alternative metrics beyond traditional risk indicators.
• Pro-cyclicality: Managing the tendency of financial systems to amplify economic cycles.
• Stress-testing: Regularly assessing the resilience of financial institutions under adverse conditions.

The Way Forward

The event concluded with a discussion on the future of EU banking supervision, highlighting the need for continued convergence of practices, enhanced transparency, and coordinated efforts among supervisors and banks. A visual summary was presented to illustrate the direction and priorities of the supervisory landscape.

Key Authorities and Structure

• CEBS: The Committee of European Banking Supervisors, based in London, provides advice on banking legislation and supervisory practices.
• CEBS Membership: Composed of 27 supervisors and central banks.
• CEBS Role: Acts as an observer in the Basel Committee on Banking Supervision (BCBS).
• New EU Authorities: Initially, three new EU authorities were established, with the possibility of reducing to two in the future.
• Separation of Sectors: Banking, insurance, and securities are initially treated separately.
• National Supervisors: Responsible for day-to-day supervision of financial institutions.

Contacts

• CEBS Website: http://www.c-ecs.org/
• Arnoud Vossen: Secretary General of CEBS
  Email: arnoud.vossen@c-ecs.org

This summary encapsulates the main themes, lessons, and future directions discussed at the OpRisk Europe Event, providing a clear overview of the evolving EU banking regulatory landscape.