CEBS today published its draft Guidelines for the operational functioning of colleges

  • Press Release
  • 21 May 2013

The Committee of European Banking Supervisors (CEBS) today publishes its draft guidelines for the operational functioning of colleges. The consultation is open to all interested parties, including supervised institutions and other market participants.

The revised Capital Requirements Directive (CRD) requires the establishment of supervisory colleges as an instrument for stronger coordination and cooperation whereby competent authorities reach agreement on key supervisory tasks. The colleges are expected to facilitate the handling of ongoing supervision and also to play a role in both the preparation for and handling of emergency situations.

This consultation paper responds to the requirements of the revised CRD according to which CEBS should elaborate guidelines for the operational functioning of colleges. In addition, the draft guidelines aim to complement the CRD provisions where additional guidance appears necessary in order to avoid inconsistencies and regulatory arbitrage, which could result from differences in the approaches and rules applied by the various colleges and the application of discretion by Member States.

The guidelines, which are structured in the form of short guidelines followed by an explanatory text, have been designed to be as practical as possible. They aim to provide guidance for the different tasks to be performed by the supervisors involved within a college, starting with the process of setting up the college. Guidance is also provided in relation to the organisation of the exchange of information among college members; as well as in relation to communication with management of the supervised institutions; the voluntary sharing and delegation of tasks and the adoption of joint decisions – on the permission for the usage of internal models and on the adequacy of own funds held by the group and its entities - provided for in the CRD. Supervisors within colleges are also provided with guidance for taking due account of macro-prudential risks and for the planning and coordination of activities, not only in going concern, but also in emergency situations.

In its work on the college guidelines, CEBS also made sure that consistency was ensured in relation to the ongoing initiatives regarding colleges at the global level, and will continue to do so when finalising the guidelines.

These guidelines have been developed under the legal framework for supervision envisaged by the revised CRD and they do not prejudge the upcoming regulatory developments in that area.

CEBS expects its members to fully implement these guidelines by 31 December 2010, at the latest, at the same time as the revised CRD will come into force.

CEBS submits its initial views for a public consultation which starts today and runs till 31 March 2010. Comments received will be published on CEBS's website unless respondents request otherwise. Please send your comments to the following email address:

A public hearing will be held at the beginning of March at CEBS's premises, in London, to allow all interested parties to share their views with CEBS. Details of this public hearing will be posted on CEBS's website in due course.

Press contacts

Franca Rosa Congiu