CONTENTS
Terms of Reference
Summary
Chapter 1: The Financial Crisis
The causes of the financial crisis
Our inquiry
Chapter 2: Regulation and Supervision in
the European Union
The definition of regulation and supervision
The purpose of regulation and supervision
Regulatory and supervisory organisation in
the European Union
Box 1: The role of the Level 3 Committees
Chapter 3: The Future of Financial Regulation
in the European Union
The process of legislative action
Table 1: Speed of legislation
Regulation of credit rating agencies
Box 2: Rules on credit rating agencies
Amendments to the Capital Requirements Directive
Box 3: Capital Requirements Directive
The Basel rules and procyclicality
Box 4: Basel rules
Crisis Management Procedures
Box 5: Crisis Management
Further regulation
Box 6: Commission proposal on alternative
fund managers
General Conclusions on the proposals for
financial regulation
Chapter 4: Financial Supervision in the EU:
an Introduction
Why reform supervision in the EU?
The ECB
Box 7: European Central Bank
Problems with supervisory powers at EU level
The EC Treaty
Fiscal authority
The ECB, the UK and the eurozone
Towards a single EU supervisory authority?
The proposals of the de Larosière
report, the UK Government and the FSA
Box 8: Supervisory recommendations of the
de Larosière report
Chapter 5: The Reform of Macro-Prudential
Supervision
Structure and membership
Chapter 6: The Reform of Micro-Prudential
Supervision
The Level 3 Committees and alternatives
Funding
Structure
The role of the ECB in micro-prudential supervision
Overall conclusion on the proposals for reform
of EU supervision
Chapter 7: Home-host Country Supervision
Chapter 8: The Role of the EU in Global Supervision
and Regulation
Global supervisory colleges
The International Monetary Fund and the Financial
Stability Forum
Box 10: The functions of the International
Monetary Fund and the Financial Stability
The role of the EU in the G20
Box 11: G20 meeting 2 April 2009
Chapter 9: State Aid in Response to the Financial
Crisis
State aid: A threat to the single market?
Chapter 10: Summary of Conclusions
Appendix 1: EU Sub-Committee A (Economic
and Financial Affairs, and International Trade)
Appendix 2: Minutes of Proceedings
Appendix 3: List of Witnesses
Appendix 4: Call for Evidence
Appendix 5: Glossary
Appendix 6: European
Financial Architecture
Appendix 7: Supervisory Architecture in the
EU as recommended by the de Larosière
Appendix 8: Securitisation
Appendix 9: Level 3 Committees
Appendix 10: Article 105 of the EC Treaty
Appendix 11: State Aid Scoreboard
Appendix 12: Reports
Oral and Written Evidence - HL 106-II
To follow
20 January 2009
27 January 2009
3 February 2009
10 February 2009
24 February 2009
3 March 2009
5 March 2009
6 March 2009
10 March 2009
25 March 2009
31 March 2009
29 April 2009
Written Evidence
NOTE:
(Q) refers to a question in oral evidence
(p) refers to a page of written evidence
The Report of the Committee is published in Volume
I, HL Paper 106-I.
The Evidence of the Committee is published in Volume
II, HL Paper 106-II
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