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CEBS published a study to assess the level of convergence achieved by the introduction of the CEBS Guidelines on Reporting to identify areas where further convergence of supervisory practices should be possible.
CEBS’ main conclusion is that the CEBS Guidelines on Reporting are relevant first steps in the harmonisation of the reporting practices of its members. The assessment study shows that the Guidelines on Common Reporting (COREP) have achieved an important level of commonality amongst CEBS members, particularly in the case for the core layer of the framework.
CEBS recognises that more work is needed in the medium term to achieve greater convergence in supervisory reporting at least for cross border active groups within the EU.
A public hearing planned for 26 October.