CEPS represented in two Commission Expert Groups

Daniel Gros, Director of CEPS, and real estate specialist Achim Dübel of Berlin-based Finpolconsult have been appointed to the European Commission’s Group of Experts in Banking Issues (GEBI). The group is expected to facilitate the communication between the banking industry, consumers and the European institutions. It is composed of (mostly) financial services representatives, as well as consumer representatives and researchers, with a group of observers coming from public bodies and associations.

The two major tasks of the group are (1) to advise the European Commission on banking policies, and (2) to provide information, estimates and impact analyses of banking regulation and legislative proposals on stakeholders. The GEBI may set up sub-groups on certain topics and publish working papers, reports or opinions. Chaired by the Commission, the group will meet three times a year with the first meeting taking place on 14 June 2010.

At the same time, CEPS Senior research fellow Rym Ayadi has been invited to join the Commission’s Insolvency Law Group of Experts (ILEG) . The group will discuss crisis management, resolution mechanisms and insolvency law in the financial sector. The work will contribute to the development of a crisis management regime in the EU. Such regime would be applicable to cross-border banking groups and include early intervention power of supervisors, bank resolution and reorganisation measures, insolvency frameworks, as well as the protection of property rights and creditors’ rights.

The ILEG is composed of 16 experts and will meet four times a year, the first meeting being foreseen in July 2010. It will provide the Commission with advice, opinions and detailed information, and is expected to consult with the GEBI, international bodies and other experts, if necessary.