关于欧盟的必威体育精装版监管动向的汇报材料.pptVIP

REGULATORY DEVELOPMENTS INCLUDING THE TURNER REPORT,DE LAROSIèRE AND BANK CAPITAL Overview Changes to the supervisory framework (Chris Bates) Impact of changes already made and likely to be made to the regulatory framework particularly in relation to capital requirements and liquidity risks (Jeremy Jennings-Mares) Impact of proposed changes that will impact structured finance and derivative transactions (Peter Green) Changes to supervisory framework Three levels of change International: G20 initiatives EU: de Larosière and Commission proposals UK and other national changes US, UK, other Focus on introducing “macro-prudential” considerations into financial supervision International process No new institutions Enhanced role for Financial Stability Board (ex FSF) FSB and IMF to run Early Warning Exercises Reliance on existing standard setters (BCBS, IOSCO, IAISB, IASB, etc) Broader international involvement (China, India, etc.) Implement regulatory colleges for remaining institutions Broad agreement on the scope of regulation Unilateralism vs cooperation Changes to EU framework Process: de Larosière report February 2009 Turner report recommendations March Commission consultation Commission Communication (May 2009, consultation ends July) ECOFIN conclusions (9 June) Key elements: European Systemic Risk Board European System of Financial Supervision (ESFS) proposed timing: up and running 2010 European Systemic Risk Council Functions: no legally binding powers data collection, risk analysis, monitoring warnings and recommendations Composition: steering committee general board Issues: legal basis, role of ECB role of regulators, non-euro countries ESFS Elements: transform Level 3 committees into Authorities strengthened role for colleges national supervisors, single rulebook Powers of Authorities technical standards, guidelines, review “supervisor of supervisors” But remaining issues: “binding mediation” supervisory powers over pan-EU institutions “twin peaks”,