13
risk concentrations and intra-group transactions but does not yet set integrated supervisory
upper limits across all sectors - which appears reasonable115.
It is therefore important, prior to creating more extensive supervisory standards, to compile
information and gather experience based on incoming reports. Arrangements to resolve or at
least disclose conflicts of interest resulting from business activity in different financial sectors
have also not been reached.116 The focus of the supervision of companies belonging to a
financial conglomerate remains on individual supervision that is supplemented, but not
overrided, by rules governing group-wide supervision (solo-plus approach).117
Has the Approach to Risk-based Regulation influenced the Degree of involvement of
External Auditors in Germany?
Bundesbank and German Financial Supervisory Authority (BaFin): Statistics ongoing
banking supervision118
Ongoing banking supervision operations, Number of operations conducted
Item 2002 2003 2004
1 Revised from the previous year. Source: Deutsche Bundesbank
Individual reports pursuant to sections 13 to 14 of the Banking Act
Single borrowers included in the summary reports submitted pursuant
to sections 13 to 14 of the Banking Act
Reports pursuant to sections 24 and 24a of the Banking Act
Monthly returns pursuant to section 25 and 25a of the Banking Act
Reports on the volume of foreign lending (country risk) pursuant to
section 25 (3) of the Banking Act
Auditors' reports on annual accounts
Reports on the auditing of safe custody accounts
Routine, special and deposit guarantee fund auditors' reports
|
206 971 |
153 035 |
186 754 |
|
2 |
1 |
2 |
|
314 |
832 |
126 |
|
292 |
038 |
336 |
|
47 |
44 |
47 |
|
585 |
561 |
002 |
|
42 |
40 |
38 |
|
992 |
918 |
558 |
|
270 |
370 |
912 |
|
3 |
3 |
3 |
|
378 |
263 |
253 |
|
614 |
483 |
644 |
|
1 |
1 |
1 |
|
887 |
755 |
678 |
115
116
117
118
ibid
ibid
ibid
Source : <http://www.bundesbank.de/bankenaufsicht/bankenaufsicht_bafin_fenster.en.php>