Committee of the European Banking Supervisors

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The Committee of European Banking Supervisors ( Committee of European Banking Supervisors, CEBS ) was a level 3 committee of the European Union (EU) within the Lamfalussy procedure . It was founded in accordance with a decision of the European Commission on November 5, 2003. It was an independent committee of European banking supervisors based in London . The committee began its work in January 2004. With European Commission decision of 23 January 2009 on the establishment of a European System of Financial CEBS with effect from 1 January 2011, the European Banking Authority (European Banking Authority, EBA) worked.

Task and composition

The task of the committee was to promote cooperation in the banking sector as part of the Lamfalussy process and to exchange information on a regular basis. The committee should help ensure that the directives of the European Community are implemented in a uniform manner and that the banking supervisory practices of the member states converge. It should improve supervisory cooperation, including the exchange of information on individual monitored institutions.

The CEBS was composed of high-ranking representatives of the national banking supervisory authorities and central banks of the EU as well as the European Central Bank (ECB). Representatives from countries of the European Economic Area outside the EU enjoyed permanent observer status. The European Commission, the chairman of the Banking Supervisory Committee of the European Central Bank and the chairman of the Groupe de Contact, the main working group of CEBS, also attended as permanent observers.

The Federal Republic of Germany was represented by representatives from the Deutsche Bundesbank and the Federal Financial Supervisory Authority .

See also

Web links