The following are among the most important tasks for CEBS to deliver in 2010:

 

• Institutional arrangements: the Commission recently made public an EU legislative package. CEBS, together with the other Level 3 committees will analyse these proposals and provide comments on the package. It is planned that by the end of 2010, CEBS will be transformed into a European Banking Authority. A certain amount of preparatory work needs to be undertaken in this regard, which varies from setting up and executing a migration plan to ensuring day-to-day operations and developing an IT infrastructure for the future organisation. CEBS has decided to pro-actively work on various subjects, to be undertaken throughout 2010.

• Periodic risk assessments: an increased attention to macro-economic and bank sector analyses is felt important to assess the resilience of the EU banking sector and receive early warnings for supervisory purposes. CEBS contributions focus on regular risk assessments and stress testing. In 2008 CEBS developed a mechanism for performing such focused risk assessments on a periodic basis, building upon macro-economic analyses and using a bottom-up approach. In 2010 CEBS will continue to deliver these risk assessments, identifying important risk areas, their relevance to banks, the measures which banks have taken to mitigate these risks and possible policy responses that may be needed. CEBS will also undertake, together with CEIOPS and CESR, a second pilot study for delivering on a periodic basis a cross-sectoral EU-wide risk assessment. In addition, it is predicted that in 2010 CEBS will carry out a new stress testing exercise, as a follow-up to the exercise performed in 2009.

• Colleges of supervisors and other network mechanisms: one of the lessons learned from the crisis is that supervisory cooperation, coordination and information exchange are of the utmost importance. Promoting supervisory cooperation and coordination through colleges of supervisors has been high on the agenda of CEBS since its inception, by fostering the functioning of colleges of supervisors and tackling issues raised by members or the Industry Platform on Operational Networks. In 2010 CEBS will continue to monitor the setting-up of supervisory colleges  as well as targets for their operations. In addition, in anticipation of upcoming CRD changes in 2010, guidelines on the operational functioning of colleges and on joint assessments by home and host supervisors within such colleges will be finalised.