CEBS - public hearing on the operational functioning of colleges

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.

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