This has led to divergence and absence of a level playing field. Even in the present capital requirements directive (in CRD IV) more than a hundred deviations are possible. The future Supervisory Board is obliged to publish within six months a complete set of harmonized rules and procedures. A public consultation on this framework regulation is also foreseen.
2  BIS central bankers’ speeches  And until then? While the competences are still with the national authorities, a so-called “Comprehensive Balance Sheet Assessment” is done. Of course we do not want to buy a cat in the bag. At the moment, we still have all sorts of accounting differences, in valuations, in the treatment of non-performing loans, etc.