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10 March 2010

CEBS’ public hearing: summary of its implementation guidelines on capital instruments to meet Basel requirements

In CEBS’s opinion, the guidelines laid down in its implementation on capital instruments give a good interpretation of the CRD provisions. A credit institution that fulfils the CEBS guidelines fulfils in substance Basel requirements for core Tier 1 instruments.

CEBS organised a public hearing on its guidelines on instruments referred to in article 57(a) of the CRD (CP33).
In December 2009, the Committee of European Banking Supervisors (CEBS) published its consultation paper (CP33) on its implementation guidelines on capital instruments. The consultation is open to all interested parties, including supervised institutions and other market participants.
The revised Capital Requirements Directive (CRD) introduces explicit rules for the treatment of instruments eligible as capital and, in particular, requirements for their inclusion in institutions’ original own funds without limits. The amendments will need to be transposed into Member States’ national law by 31 October 2010 and will then be applied from 31 December 2010. This consultation paper is a response to Article 63a (6) of the revised CRD that requires CEBS to elaborate guidelines for the convergence of supervisory practices with regard to the instruments referred to in point (a) of Article 57.

© CEBS - Committee of European Banking Supervisors

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