On 26 October 2007 the Committee of European Banking Supervisors (CEBS) held an open hearing on supervisory reporting. The open hearing followed the publication by CEBS of a study which assessed the level of convergence achieved by the CEBS Guidelines on Reporting. On 2 November CEBS published a summary of the discussion at the open hearing. In the summary it was noted that participants generally agreed with the main findings of the CEBS study. Participants expressed that the implementation of the Guidelines on Common Reporting (COREP) had become burdensome and that the current product does not meet the evolving expectation from part of the cross border industry. However, participants also expressed that COREP had been very useful for domestically operating institutions.
The summary also contains some of the tentative actions that CEBS would introduce in 2008 and these include:
- Dealing with current differences in reporting procedures.
- Performing user tests to more precisely determine the added value of the information received in order to streamline the current supervisory reports.
View Summary on the open hearing on future developments on supervisory reporting, (PDF 78.2KB), 2 November 2007