Newsletter Mar 2006: CEBS is tilting towards undue detail – say critics

There is a continuous trade-off between a desirable convergence of supervisory practice in Europe, and imposing excessively burdensome detail and prescription on banks. Today, there is a feeling that CEBS (the Committee of European Banking Supervisors) is moving too far towards prescription and burdensome detail, says Freddy Van den Spiegel, director for public affairs at the Benelux insurance and banking group Fortis, and chairman of CEBS’ consultative panel.