The Level 3 committee publishes "good practices" for EU supervisory colleges
LONDON - The Committee of European Banking Supervisors (Cebs) has released its guidelines for supervisory colleges of cross-border EU banking groups.
The Cebs paper, 'Guidelines for co-operation between consolidating supervisor and host supervisors', tries to benchmark good practices for the functioning of the colleges, with the aim of improving supervisory co-operation between home and host authorities engaged in cross-border banking supervision.
Cebs has pioneered work on supervisory colleges since 2006. Colleges were flagged by February's Larosière report as one of the measures needed to strengthen microeconomic supervision for systemically important EU banks. The report also recommended that Cebs evolve into a European banking authority endowed with supervisory powers.
The current document restricts itself to guidelines for colleges under their present legislative mandate. Cebs says it reflects some good practices already established within existing colleges by some EU supervisors and other areas of co-operation still in development.
The paper can be read here.
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