05 July 2005

CEBS Consultation on its role and tasks

The Committee of European Banking Supervisors (CEBS) published a consultation paper on its role and tasks, explaining CEBS’ overall approach to meeting its main objectives, as well as the tools at its disposal, and looking ahead at how CEBS intends to address near-term challenges.

CEBS states that market trends create a misalignment between legal and operational structures of cross-border groups. The existing diversity in markets suggests that the EU does not have an overarching need to strive for full regulatory uniformity in the banking field. The committees’ main objectives include promoting cross-border supervisory co-operation through encouraging good supervisory practices, promoting an efficient approach to supervision, effective legislation, and working towards a level playing field across the EU.

With regard to effective EU legislation, CEBS proposes that a distinction is made in practice between mandates on more general, political issues, for which the Commission and the European Banking Committee should play a pivotal role, and those dealing with technical issues, which should give CEBS the appropriate scope to develop detailed proposals.

To facilitate an integrated banking market, unnecessary inconsistencies in national implementation and in supervisory practices should be avoided. To enhance cooperation and information sharing, CEBS will among others develop ex ante guidelines and ex post review mechanisms.

The paper has three main parts:
 

• an overview of the framework within which CEBS operates, and the various market trends that impact on it;
   
• the objectives, tasks and tools of the Committee;
   
• and a preliminary view on how CEBS' progress towards its objectives can be evaluated and assessed.

  The annex explains in detail how the various tools are currently being used. Request for comments

  The consultation deadline is 28 October 2005

  Press release
  Consultation paper
   

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