These guidelines facilitate a common understanding within colleges of the results of assessments of material risks and control factors, the ICAAP processes and methodologies, as well as compliance with various minimum requirements of the CRD performed by national supervisors.
CEBS publishes for consultation draft Guidelines for the joint assessment of the elements covered by the supervisory review and evaluation process and the joint decision regarding the capital adequacy of cross border groups.
The Guidelines published provide tools to facilitate a common understanding within colleges of the results of assessments of material risks and control factors, the ICAAP processes and methodologies, as well as compliance with various minimum requirements of the CRD performed by national supervisors with reference to CEBS’s existing guidance on the Supervisory Review Process (SRP) .
Giovanni Carosio, chairman of CEBS, said:
“CEBS’s work on colleges started in 2006 with the aim of promoting cooperation and convergence in the supervision of cross-border banking groups in Europe. The revised CRD, by providing a legal framework for the establishment and functioning of colleges, confirms their importance in strengthening cooperation and coordination among supervisors. The draft Guidelines we have published for consultation today constitute an essential step forward towards reaching joint assessments and decisions on the risk-based capital adequacy of EEA cross-border banking groups."
CEBS expects its members to implement these Guidelines in conjunction with the implementation of the revised CRD which will come into force on 31 December 2010.
Deadline for comments is 9 July 2010.
A public hearing will be held on 3 June 2010 at CEBS’s premises in London from 11:00 to 15:00 to allow all interested parties to share their views with CEBS
© CEBS - Committee of European Banking Supervisors
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