31 May 2005

CEBS technical advice on Consolidated Banking Directive

The Committee of European Banking Supervisors (CEBS) issued its technical advice on the review of Article 16 of the Consolidated Banking Directive. The Commission's call for advice sought technical advice on five possible options for ensuring that Article 16 does not improperly curb mergers and acquisitions in the EU. The Commission’s mandate included two core options on which the advice of CEBS was requested:
 

• explicit criteria to be used when assessing the suitability of qualifying shareholders, and
   
• considering mutual recognition agreements;

  and three others on which advice “would be welcome”:
   

• review of the thresholds at which supervisors must be informed,
   
• adding transparency provisions to negative decisions, and
   
• making a redress mechanism available.

  Document
   

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