Two new consultation papers from CEBS
LONDON – The Committee of European Banking Supervisors (CEBS) launched two substantial consultation papers in June – one on the supervisory review process and the second on credit rating agencies.
The first paper, Application of the supervisory review process under Pillar 2, is the second draft of the guidance, the first draft having been published in May 2004. Originally, CEBS members said this second paper would be out in March, but discussion of the finer details of just how Pillar II would work kept the paper from being published until late June.
A summary of the comments that CEBS received on the first paper was published at the same time as the second draft. Industry officials were
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