Terms of Reference


Purpose

The Group brings together senior management drawn from the FSA, HM Treasury, the Bank of England, trade associations and regulated firms who are responsible within their respective organisations for providing strategic leadership on Basel/CRD implementation. The purpose of the group is to:

 

  • discuss the FSA's strategic objectives for the UK implementation of the Capital Requirements Directive;
  • review success against those objectives periodically, identifying ways in which those objectives might be better achieved and reviewing whether those objectives remain relevant;
  • exchange information between the participants on important policy, practical and timetable issues that arise on the FSA, HMT and industry implementation projects; and
  • review the forward agenda and key milestones of the FSA's timeline for implementation.

 

Limits on the Group's scope

The focus of the Group is on implementation, not negotiation, of the Capital Requirements Directive. HM Treasury leads on the UK's negotiation objectives and tactics and will make separate arrangements to gather views in relation to the negotiations.

 

Chair

Hector Sants, Managing Director, FSA, will chair the Group.

 

Administration

Diane Moore, Prudential Programme Leader, FSA, and her team will provide the secretarial and administrative support.

 

Attendees

The attendees are:

Hector Sants (Chair)
Michael Folger FSA   Adrian Coles BSA
Oliver Page FSA   Angela Knight APCIMS
Paul Sharma FSA   Anthony Bellchambers FOA
Rosemary Hilary FSA   Robert le Blanc Barclays
Diane Moore FSA   Jim Gunner HSBC
Gemma Dawson HMT   Carol Sergeant Lloyds
Andrew Gracie BoE   Richard Gossage RBSG
Ian Mullen BBA   Michael Kirkwood Citi
Sir Adam Ridley LIBA   Robert Charnley Goldman Sachs
Peter Williams CML   Martin Neuhold Deutsche

 

Meeting Frequency

Meetings will be held approximately every 3 months.

 

Duration

The role of the Group relates to the FSA's implementation of the Capital Requirements Directive. The Group will continue until the completion of that project which is expected to be three months after the date at which the CRD comes fully into force.

 

Inputs

The FSA will bring papers to the Group to report on its activities and to help focus discussion.

 

Outputs

The FSA will prepare minutes of the meetings and arrange for an agreed version of the minutes to be posted on the FSA's website.