The importance of supervisory transparency and accountability has been stressed
by the Basel Committee on Banking Supervision and by the new European legislation
(namely Directives 2006/48/EC and 2006/49/EC – Capital Requirements Directives).
The Committee of European Banking Supervisors (CEBS) therefore developed a supervisory
disclosure framework allowing meaningful comparison of the implementation of the
new capital requirements framework in the Member States. The tables of information
in this section were developed by the working group of CEBS and are released on
the individual homepages of the supervisory authorities of the EU Member States.
The CEBS website will serve as a centralised electronic repository and will allow
for a quick and easy comparison of the relevant information. The websites of the
national supervisory authorities will provide the exhaustive and detailed information
required by the Capital Requirements Directives (CRD).
In this section HFSA will publish and provide access to information regarding
the texts of laws, regulations, administrative rules and guidance adopted in the
field of prudential regulation and supervision in Hungary. The supervisory disclosure
requirements cover options and national discretions, general criteria and methodologies
used nationally in the Supervisory Review and Evaluation Process (SREP).
The content of the pages in this section has been divided into four sections:
Rules and Guidance
This section provides information on legal and regulatory texts, including:
1. Laws and regulations adopted in Hungary in the field of prudential regulation
including the implementation of the provisions of the Directives 2006/48/EC and
2006/49/EC. These texts outline the primary supervisory requirements for supervised
credit institutions and investment firms.
2. Administrative rules. For the purposes of disclosure they are understood as
instructions to supervised entities to fulfil certain legislative and regulatory
3. General guidance includes explicit disclosure requirements of the Directives
2006/48/EC and 2006/49/EC and explanations deemed necessary to set out how the
rules should be applied by institutions. Additionally, such a guidance will cover
any other relevant information that HFSA may wish to release in order to enhance
the understanding of the new capital adequacy framework.
Options and National Discretions
The Directives 2006/48/EC and 2006/49/EC contain a large number of options and
national discretions which may be applied on the basis of national circumstances.
This section is intended to make it easy for end-users to make a brief overview
of how these options and national discretions are being exercised in Hungary.
This section includes information on general criteria and methodologies used
by HFSA in the Supervisory Review and Evaluation Process (SREP), on the minimum
requirements for institutions' internal Capital Adequacy Assessment Process (iCAAP)
and information on HFSA policy on application of supervisory actions and measures.
This section includes aggregated statistical data on key aspects of the implementation
of the prudential framework in Hungary. This section includes statistical data
on the banking and investment firm sector, credit risk, operational risk, market
risk and supervisory actions and measures applied in Hungary.
For an overview regarding supervisory disclosure in the EU Member States see
the corresponding tables on the CEBS homepage.
CEBS "Guidelines on Supervisory Disclosure"