CEBS – Work Progress and Future Challenges

The Committee of European Banking Supervisors (CEBS), which has been up and running for the last 5 years, is comprised of high level representatives, both from supervisory authorities and central banks from each EU country. We also have participants from the EEA countries, the EU Commission, the European Central Bank and the Banking Supervision Committee. Our mandate is to advise the Commission on regulatory issues and to promote convergence and cooperation among banking supervisors.

During its first years of operation, CEBS focused its attention primarily on the consistent implementation of Community Directives, promoting convergence in supervisory practices throughout the Community.

In January this year, the EU Commission has revised the decisions establishing the 3L3 Committees (CEBS, CESR and CEIOPS) in an effort to setting up a clearer framework for the activities of the Committees and reinforcing the current financial stability arrangements. The revised Decision establishing CEBS contains a non-exhaustive list of tasks that CEBS is expected to perform and this revised Decision enhances CEBS’ role as regards the safeguarding of financial stability. As a result, we plan to furthe...