EAPB response on IIMG Second Interim Report

26 March 2007

The EAPB welcomes the preliminary recommendations and conclusions set out in the second IIMG interim report underlining the importance of a regular review. With regard to parallel working on Level 1 and Level 2 issues the EAPB underlines that attention has to be paid that responsibilities are not mixed up and that Level 2 must not take over Level 1 tasks.

EAPB also notes that supervisory convergence should not be extended to a point where national specificities of the banking business in the supervisory practices can not be taken into account any more. Functional convergence should not be taken as far as to also include institutional convergence. The Association warns that the establishment of central European supervisory structures does not automatically lead to efficiency gains.

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© Graham Bishop