CEBS consultation on supervisory cooperation

08 July 2005




The Committee of European Banking Supervisors (CEBS) issued for public consultation its guidelines for greater supervisory cooperation for EU banking and investment firm groups under the Capital Requirements Directive (CRD). The paper sets out CEBS guidelines for establishing an enhanced framework for co-operation between consolidating supervisor and host supervisors. They contain sections on general cooperation, distinguishing between subsidiaries and branches, and guidance more specifically related to the approval process of model validation.

For cross-border groups, all supervisors could be required - depending on the scope of application as defined by the CRD - to undertake the Supervisory Review Process (SREP) within the respective Member States. To be effective, the SREP should be based on the same principles, applying similar procedures. This should result in:
 

 


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