CEBS publishes a good practices paper on the functioning of Colleges of supervisors for cross-border banking groups

Following the publication in January 2006 of the "Guidelines for Cooperation between Consolidating Supervisor and Host Supervisors", CEBS has been working to improve home-host cooperation and to enhance the functioning of the Colleges of supervisors.  The document released today reflects current good practices that some supervisors of large EU cross-border banking groups have established or are currently developing to shape their cooperation within Colleges of supervisors under the scope of legislation currently in force.

The good practices build upon the progress already achieved by CEBS in fostering home-host cooperation for cross-border supervision, including its Template for a Multilateral Cooperation and Coordination Agreement on the Supervision of Cross-Border Groups , its paper on the delegation of supervisory tasks , and the 10 principles for the functioning of Colleges issued jointly with CEIOPS.

The present document is intended to pave the ground for the forthcoming guidelines for the operational functioning of Colleges that CEBS is due to prepare when implementing the incoming revisions to the CRD.

CEBS regards the development of supervisory Colleges as a priority and will continue monitoring the setting up and functioning of Colleges.