The EBA launched a public consultation on standards on colleges of supervisors. The technical standards on colleges detail supervisory activities performed by colleges in going concern and emergency situations. These standards aim at facilitating the interaction and cooperation between authorities at EU and global level and strengthening supervision of cross-border banking groups across the EU.
The draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on the functioning of the colleges of supervisors, launched today for public consultation, cover the general condition on the functioning of colleges and how colleges’ supervisory activities should be planned in both normal and emergency situations.
In particular, they detail the conditions for the establishment and functioning of colleges of supervisors, cooperation arrangements between competent authorities of cross-border banking groups and exchange of information necessary for performing key supervisory tasks in a joint and coordinated manner.
These technical standards will facilitate the interaction and cooperation between competent authorities while performing this task in an efficient and consistent way.
The draft RTS and ITS on colleges of supervisors launched for public consultations today have been developed in accordance with Articles 51 and 116 of the Capital Requirements Directive (CRD) and build on the set of guidelines published in 2010 on the topic by the predecessor of the EBA, the Committee of European Banking Supervisors (CEBS).
Colleges of supervisors are a mechanism for planning and performing supervisory tasks in the EU banking sector in a coordinated manner across the EU.