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17 October 2008

CEBS technical advice on options and national discretions in the CRD


The advice will result in 80% reduction of the present discretions available for EU members in the Capital Requirements Directive, CEBS notes, which is expected to have a positive effect on supervisory convergence in Europe.

CEBS publishes its response to the Commission's Call for Technical Advice on the reduction of options and national discretions in the Capital Requirements Directive.

 

The advice, in parallel with the expiration of some options and national discretions, will result in 80% reduction of the present discretions available for EU members in the Capital Requirements Directive. The reduction is expected to have a positive effect on supervisory convergence in Europe and will diminish compliance costs for institutions.

 

CEBS is proposing to keep as an option or national discretion 28% of the 152 provisions covered in its analysis. However, approximately one third of these national discretions will expire within a relatively short period.

 

For the other discretions CEBS is proposing solutions that it believes can bring about further harmonization of supervisory practices in the EU and levelling of the playing field among institutions.

 

CEBS believes its proposals strike the right balance between the prudential concerns of its Members, the flexibility supervisors need to perform their duties and the interests of domestic institutions and those that operate cross-border.

 

Press release

Advice
Feedback document 

 



© CEBS - Committee of European Banking Supervisors


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