Capital and Groups Standing Group
Terms of reference
Purpose of Group
To provide a forum for representatives of the banking
and investment firm sector to discuss implementation issues relating to the
Capital and Group Risk modules of the Integrated Prudential Sourcebook. These
include:
- scope of application;
- definition of capital;
- consolidation; and
- pillar II.
To advise us (the FSA) on methods of assessment
and the ongoing monitoring of:
- individual capital requirements; and
- group capital requirements.
To help encourage all relevant institutions, practitioner groups and trade associations to play a full part in developing emerging standards and in our consultation processes.
To help us to assess the overall costs and benefits for UK financial institutions of proposals on the implementation of these requirements in the Integrated Prudential Sourcebook.
To provide a regular communication channel between us and the industry to inform European developments and negotiating tactics.
Meetings
The group will meet approximately every five to six weeks during 2004.
Outputs
The group will produce papers as required on specific issues relating to the implementation of the requirements. These may be used for discussion between group members and to further our policy development in this area. We will publish high-level minutes of the proceedings on our website.
Composition
We will chair the group and it will consist of representatives from trade bodies and firms. We will also provide secretarial support.
Confidentiality
In general, the papers and discussions of the group are not confidential. Members of the group are free to refer to the proceedings of the group to take soundings in their sector. However, it is understood that this will be done with due discretion and circumspection. When, exceptionally, confidentiality is sought, the need for it will be made clear.