Following the report to ECOFIN on custodian banks, CEBS has committed to undertake further work to establish the materiality of custodian banks internalising settlement activities or carrying out CCP-like activities.
CEBS published its call for evidence for custodian banks as part of its review of ‘the coverage of risks borne by custodians (…) so as to ensure a level playing field while avoiding inconsistencies in the treatment of custodians and double regulation’.
Following the report to ECOFIN on custodian banks (view) CEBS has committed to undertake further work to establish the materiality of custodian banks internalising settlement activities or carrying out Central Counterparty (CCP)-like activities. The report identified certain gaps with regards to these activities in the current applicable banking regulations, in comparison to the ESCB-CESR draft Recommendations.
The CEBS questionnaire will help assess the materiality of this market practice.
CEBS expects to deliver its results by early Q2 2009.
A public hearing will take place on Tuesday 24 March 2009 from 10.00 am to 1.00 pm at CEBS.
Deadline for consultation is 4 March 2009.
Press release
Call for evidence
CEBS report to ECOFIN on custodian banks (18 December)
© CEBS - Committee of European Banking Supervisors
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