EFR / FSR joint statement supports colleges of supervisors

20 June 2008

The European and the US Financial Services Roundtable support the setting up of colleges of supervisors for each of the largest financial institutions as proposed by the Financial Stability Forum.

In a common statement the European and the US Financial Services Roundtable support the setting up of colleges of supervisors for each of the largest financial institutions as proposed by the Financial Stability Forum.

 

It will be critical that the Framework for Advancing Transatlantic Economic Integration will deliver results over the years to come, both organisations state, particularly with regard to create a level playing including for insurance companies , to achieve equivalence between accounting standards, and to mutually recognise securities’ regulation.

“We consider that it could be instructive to review how the fair value concept and accounting rules around this concept have functioned during the recent financial turmoil on both sides of the Atlantic”, they state.

Joint statement

© EFR - European Financial Services Round Table