News release: “The Committee of European Banking Supervisors (CEBS) today publishes its implementation guidelines on Article 106(2) (c) and (d) of Directive 2006/48/EC (Capital Requirements Directive) as amended by Directive 2009/111/EC. As a consequence of the deletion of the general preferential treatment for inter-bank exposures in the large exposures rules, the Capital Requirements Directive (CRD) now provides exemptions from large exposures rules for specific short-term exposures arising from the provision of money transmission, correspondent banking, clearing and settlement and custody activities. CEBS’s guidelines are structured in two main parts, covering Article 106(2) (c) and (d) respectively. The guidelines provide further clarification of the criteria which must be met to qualify for these exemptions. The guidelines elaborate in particular on “types of services”, the definition of client activity and “life-span” of exposures.”