CEBS to create EU reporting standards
LONDON -- In January, the Committee of European Banking Supervisors (CEBS) launched a consultation on standardising certain aspects of financial reporting within the EU. It also announced a complete timetable for the various consultations it plans to complete during the course of Basel II implementation.
At the end of January, the group -- which is composed of regulators from throughout the EU -- published a formal consultation to create a common framework for credit institutions’ reporting of solvency ratios. Solvency ratios are used by banking regulators to assess firms’ risks and their related capital adequacy, but until now the construction of firms’ solvency ratios has been dictated by their national regulators, and differed from jurisdiction to jurisdiction.
The new reporting
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