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Issues discussed by the EBC include the latest developments on the changes to the CRD and on Deposit Guarantee Schemes.
On the changes to the CRD the Commission plans to put forward a proposal under the ‘co-decision’ procedure in early autumn 2008 that will cover crisis management/colleges, large exposures, hybrids, minimum capital for securitisation, waivers for banks affiliated to a central institution. It also will put forward two implementing Directives under the ‘comitology’ procedure, one amending Directive 2006/48 and the other Directive 2006/49.
The Commission intends to adopt the Comitology provisions by January 2009. With regard to the Co-decision proposal it is expected that this legislative process can be completed by spring 2009.
On Deposit Guarantee Schemes the Commission published two reports which provide important background analysis aimed at feeding into the Commission's ongoing review of the Deposit Guarantee Schemes Directive:
The report on Efficiency of Deposit Guarantee Schemes investigates the financial resources available to EU Deposit Guarantee Schemes
The report on risk-based adjustments to contributions that banks have to pay to schemes, is part of the non-legislative work proposed by the Commission in its 2006 Communication.
The Commission is awaiting findings from EFDI on four non-legislative elements stemming from the Commission's Communication of 2006:
The results of work on the remaining self-regulatory issues are due in 2009. A draft Memorandum of Understanding on topping up is being discussed within EFDI.
Further issues discussed by the EBC also included topics on Lamfalussy.
European Banking Committee Newsletter