To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

How to transfigure the Wikipedia

Would you like Wikipedia to always look as professional and up-to-date? We have created a browser extension. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology.

Try it — you can delete it anytime.

Install in 5 seconds
4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
Languages
Recent
Show all languages
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
Great Wikipedia has got greater.
.
Leo
Newton
Brights
Milds

Committee of European Banking Supervisors

From Wikipedia, the free encyclopedia

Committee of European Banking Supervisors
Agency overview
Formed1 January 2004 (2004-01-01)
Dissolved1 January 2011 (2011-01-01)
Superseding agency
JurisdictionEuropean Union
HeadquartersCity of London, United Kingdom
Websitewww.c-ebs.org

The Committee of European Banking Supervisors (CEBS) was an independent advisory group on banking supervision in the European Union (EU), active from its establishment in 2004[1] to its replacement on 1 January 2011 by the European Banking Authority (EBA) which took over all its tasks and responsibilities following Regulation (EC) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010.[2]

CEBS was one of three so-called level-3 committees of the European Union in the Lamfalussy process, together with the Committee of European Securities Regulators (CESR) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).

YouTube Encyclopedic

  • 1/5
    Views:
    77 388
    3 225
    613
    616
    475
  • The Fed Explains Bank Supervision and Regulation
  • The EU Banking Package
  • Consolidation in the EU Banking Sector
  • Bank Boards and Supervisory Expectations
  • Episode 3 - Digital Operational Resilience Act (DORA): Implications for Supervisors | FSA Talk

Transcription

There are all kinds of businesses in our economy. They all have one thing in common: They want to earn money so they can run their operations, provide service for their customers, and get a reasonable return for their owners. A bank is no different. So, how does a bank earn money? It lends money to members of the community who can pay back what they borrow. These borrowers are charged interest. This is the main way banks make money and stay healthy. The Fed wants to keep the economy growing so that's why they want to make sure all banks stay healthy. The healthier the bank, the healthier the economy and the communities that it serves. The way the Fed supervises and regulates banks keeps evolving. Since the financial crisis of 2008, the Fed, along with other bank supervisors, conducts stress tests on the nation's largest financial institutions making sure they have the capital they need to stay healthy in case of an economic downturn. These days the Fed and other regulators are looking at risk across multiple banks, not just at individual institutions, watching out for the stability of the entire financial system. This broader review model is called macro-prudential regulation, and it makes the financial system more resilient to systemic shocks. That's why the Fed, along with other federal and state authorities, keeps an eye on banks. These agencies make sure banks do business safely and provide fair and equitable services to their communities. How? First, the Fed makes sure all deposits are safe by requiring all banks to keep a percentage of deposits in reserve as cash in their vaults or in accounts at a federal reserve bank. Then, to make sure banks stay safe and sound, the Fed sends out examiners to inspect banks, both big and small. They check on how well a bank is run by asking basic questions. For example, Does a bank make good investments? Does it take care of people's money? Does it follow safe banking rules? The Fed gets all this information from the banks in the form of Bank Call Reports. Fed examiners review these reports first off site, and then go on site to inspect bank records and facilities. Then the Fed examiners combine all this information to measure the health of the bank. Once the information is collected, the examiners study the bank's condition by applying the Camels Rating. Each letter stands for one of the 6 components of a bank's health. Capital adequacy: Do they have enough capital to do business? Capital acts like a cushion to absorb losses that could otherwise cause a bank to fail. Asset quality: Are their loans and other investments safe and sound? Management: Do their managers know what they're doing? Earnings: Are they making a profit? Liquidity: Do they have enough funds on hand to pay back their depositors? And Sensitivity to market risk: Do they make wise decisions based on their understanding of risk? This Camels Rating gives banks a confidential assessment from 1 to 5, with 1 being the top rating and 5 being the lowest. What happens if a bank gets a poor rating? The Fed goes back, does more examinations and offers guidance to the bank in question. Sometimes the Fed and the bank have written agreements on how to rectify the situation. If banks continue to perform badly, they can become insolvent and be shut down, but the depositors are protected. The FDIC ensures depositors' money from loss up to $250,000. Another part of ensuring that banks are serving their communities? Making sure banks are lending fairly. That's where the Fed's Consumer Compliance comes in. They make sure loan applications are judged on the consumer's ability to repay the loan, not on their race, religion or neighborhood. The Fed also makes sure banks are complying with consumer protection laws by disclosing the correct interest rate on loans. This is to make sure customers don't get charged any hidden fees when they borrow money. The Fed is committed to safe and sound banking, so if consumers have a complaint about a financial institution, they can contact the Federal Reserve. The Fed will look into banking practices and investigate those complaints keeping our banking system safe and sound and the economy and all communities growing. For more information, visit the Atlanta Fed online at frbatlanta.org.

Background

CEBS succeeded the Groupe de Contact (lit. 'Contact Group', generally referred to by its French name), an informal gathering of banking supervisors that had existed since 1972 and played a role in the establishment in 1974 of the Basel Committee on Banking Supervision.[3] The Groupe de Contact continued activity, including after the establishment in 1998 of the European Central Bank and its Banking Supervision Committee, as a lower-level venue for addressing individual supervisory cases of common interest.[4]: 45  The Groupe de Contact also produced studies that informed other policy processes, including at the global level through the Basel Committee.[5]: 240  Upon the creation of CEBS, the Groupe de Contact was subsumed into it as one of the CEBS expert groups.[6]: 8 

Overview

CEBS was established by the European Commission by Decision 2004/5/EC,[7] and held its first meeting on 29 January 2004.[6]: 8  Its charter revised on 23 January 2009, CEBS was composed of senior representatives of bank supervisory authorities and central banks of the European Union. European Economic Area countries which are not EU members participated as permanent observers.

Its role was to:

  • Advise the European Commission, on the latter's request, or within a time period the Commission may have set depending on the urgency of the matter, or acting on its own behalf, in particular as regards the preparation of draft measures in the scope of lending activities.
  • Contribute to the consistent implementation of EU directives and the convergence of financial supervisory practices in all member states of the entire European Community.
  • Improve supervisory cooperation, including exchange of information.

As part of the so-called Lamfalussy process, the Commission adopted Decision 2004/5/EC of 5 November 2003, establishing the Committee (OJ L 3, 7.1.2004, p. 28.).

The Committee took up its duties on 1 January 2004, serving as an independent body for reflection, debate and advice of the Commission in the field of banking regulation and supervision. [...] to establish a new organisational structure for financial services committees (OJ L 79, 24 March 2005, p. 9.), the Commission carried out a review of the Lamfalussy process in 2007 and presented its assessment in a Communication of 20 November 2007 entitled 'Review of the Lamfalussy process – Strengthening supervisory convergence' (COM(2007) 727 final.).

In the Communication, the Commission pointed out the importance of the Committee of European Securities Regulators, the Committee of European Banking Supervisors and the Committee of European Insurance and Occupational Pensions Supervisors (hereinafter the Committees of Supervisors) in an increasingly integrated European financial market. A clear framework for the activities of these Committees in the area of supervisory convergence and cooperation was deemed necessary.

While reviewing the functioning of the Lamfalussy process, the Council invited the Commission to clarify the role of the Committees of Supervisors and consider all different options to strengthen the working of those Committees, without unbalancing the current institutional structure or reducing the accountability of supervisors (Council Conclusions 15698/07 of 4 December 2007).

At its meeting on 13 and 14 March 2008, the European Council called for swift improvements to the functioning of the Committees of Supervisors (Council Conclusions 7652/1/08 Rev 1.).

On 14 May 2008 (Council Conclusions 8515/3/08 Rev 3), the Council invited the Commission to revise the Commission Decisions establishing the Committees of Supervisors so as to ensure coherence and consistency in their mandates and tasks as well as to strengthen their contributions to supervisory cooperation and convergence. The Council noted that specific tasks could be explicitly given to the Committees to foster supervisory cooperation and convergence, and their role in assessing risks to financial stability. Therefore a reinforced legal framework regarding the role and tasks of the Committee in this respect should be provided.

[...]"

— European Commission Decision 2004/5/EC[1]

So the European Commission's decision (2009/78/EC) of 23 January 2009, "for reasons of legal security and clarity", repealed, in its 16th article Decision 2004/5/EC,[1] which changed the legal framework of the committee.

On 1 January 2011, the committee was superseded by the European Banking Authority.[2]

Membership

Depending on national supervisory architecture, namely whether banking supervision was separate or not from the central bank, each member state had either one or two members in CEBS:[8]

Observers:

Location

The office of the Secretariat of the CEBS was located in the City of London, UK.[9]

See also

References

  1. ^ a b c "OJEU 29.1.2009 – COMMISSION DECISION of 23 January 2009 establishing the Committee of European Banking Supervisors (2009/78/EC)". OJEU. 4 October 2009. p. L 23–27.
  2. ^ a b European Banking Authority
  3. ^ Goodhart, C. A. E. (Charles Albert Eric). The Basel Committee on Banking Supervision : a history of the early years, 1974-1997. Cambridge, UK. ISBN 9781139117739. OCLC 769341794.
  4. ^ Alessandro Prati and Garry J. Schinasi (August 1999), Financial Stability in European Economic and Monetary Union (PDF), Princeton University
  5. ^ William Peter Cooke (June 1981), "Developments in co-operation among banking supervisory authorities" (PDF), Bank of England Quarterly Bulletin
  6. ^ a b CEBS Annual Report 2004 (PDF)
  7. ^ "Banks: regulatory and supervisory consultative committees", in Europa, Summaries of EU Legislation (official EU website). Retrieved 11 July 2011.
  8. ^ }CEBS Annual Report 2010 (PDF), p. 44-45
  9. ^ "CEBS – about us". Archived from the original on 21 March 2009. Retrieved 4 October 2009.

External links

This page was last edited on 12 March 2024, at 19:40
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.
Contact WIKI 2
Introduction
Terms of Service
Privacy Policy