CEBS has published its business plan for the next year. It plans a busy year. Its main priorities are:
- crisis management, including work on colleges of supervisors in a crisis situation, and analysing the supervisory implications of the national "rescue plans";
- early intervention mechanisms: The EU Commission is developing a white paper on early intervention tools and has asked CEBS to help;
- transparency, disclosure and valuation;
- periodic risk assessments;
- liquidity risk management:CEBS will develop more detailed guidance on the composition of liquidity buffers;
- colleges of supervisors and other network mechanisms;
- guidelines on hybrid capital instruments: The Commission has included CEBS’s recommendations in its proposals for revising the CRD. CEBS will elaborate operational guidelines on the precise criteria for hybrids instruments to qualify as capital for regulatory purposes;
- supervisory reporting: In 2008 CEBS and CEIOPS developed a plan to introduce harmonised supervisory reporting by 2012, which ECOFIN has agreed;
- training programmes: CEBS and the other Level 3 committees will run their first joint training programme;
- securitisation: In 2009, the revised CRD should modify the supervisory treatment of securitisation activities. CEBS will work on the implementation guidance of the revised regulation, notably on retention clauses; and
- Pillar 2: Pillar 2 is an area in which at the moment there are quite divergent practices amongst Member States.
More work on CRD revisions is one of CEBS’s second level priorities.