The Commission has asked CEBS to provide technical advice on a number of issues with regard to the definition of own funds. The Basel Committee has committed a long term review of the definition of own funds. CEBS has therefore been asked to carry out a survey of the implementation of current rules on own funds across Member States and a quantitative analysis of the types of capital held by credit institutions within the Member States. CEBS was also asked to undertake an analysis of new capital instruments and the development of guiding principles behind own fund.
The updated analysis of the implementation of the rules and the survey of recently launched capital instruments should be provided by August 2006. The quantitative analysis and the survey of the type of capital held by credit institutions and the guiding principles should be finalised in spring 2006.
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