At its second meeting, the Committee of European Banking Supervisors (CEBS) took some important steps forward with respect to the establishment of its Secretariat, which will be based in London. CEBS aims to have the Secretariat fully up-and-running by September 2004.
Progress was made on two papers which will be release within the next weeks for consultations:
- A draft statement of CEBS’ consultation practices,
- A set of draft high-level principles on outsourcing, addressed both to institutions and to supervisory authorities.
Other issues included among others a set of guidelines on information exchange between supervisory authorities, the work programme for convergence of supervisory practices, and the review of capital requirements, with a particular focus on the areas of national discretion foreseen in the draft Directive, cross-border issues and validation of Internal Ratings Based (IRB) models and Advanced Measurement Approaches (AMA) for operational risk.
Press release
© CEBS - Committee of European Banking Supervisors
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