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CEBS published the summary of the open hearing on large exposures held in London on 11 July 2007. The main focus of the discussion was on the purpose and objective of a large exposures regime now that the new Capital Adequacy Regime is in place. Some participants pointed out that the current regime is disconnected from the internal concentration risk management practices of institutions, at least from the larger and sophisticated ones.
Some participants noted that undertaking work to consider an amended large exposures regime at this point in time is inconvenient as the institutions are currently implementing the Capital Requirements Directive. The Commission indicated that the timetable for submitting a proposal had been delayed from end 2007 to end 2008. The Commission expects to consult publicly on a draft proposal in early summer 2008. In parallel, the Commission will conduct an impact assessment.
Participants were invited to submit their written contributions no later than 15 August 2007