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CEBS published a questionnaire on options and national discretions as part of developing its response to the European Commission's Call for Advice. In the call for advice issued in May the Commission invites CEBS to conduct an in-depth technical analysis on the exercise of options and national discretions identified in its supervisory disclosure framework.
It is suggested that CEBS follows a three-pronged approach by classifying the options and national discretions into the following categories:
a. Options and discretions which might be subject to mutual recognition along the lines set out in the annex of the Call for Advice;
b. Possible legitimate options and discretions;
c. Discretions and options which should be deleted.
CEBS is invited to deliver its advice by end May 2008. Deadline for comments is 19 October 2007.
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