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The EBA launched a public consultation on standards on colleges of supervisors and on standards on joint decisions on approval of internal models. The technical standards on colleges detail supervisory activities performed by colleges in going concern and emergency situations, while the ITS on joint decisions relate to the approval of internal models and detail the processes to be followed by competent authorities when reaching joint decisions. 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 objective of these Implementing Technical Standards (ITS) on joint decisions on institution-specific prudential requirements is to facilitate the reaching of effective joint decisions between the consolidating supervisor and the competent authorities responsible for the supervision of subsidiaries in a Member State. In particular, these ITS set up common procedures and templates that will facilitate the interaction and cooperation between the consolidating supervisor and the relevant competent authorities when providing their contribution to the group risk assessment and joint decision documents.

The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) on joint decisions on institution-specific prudential requirements. These ITS will ensure uniform conditions of application of the joint decision process - on capital and liquidity - between consolidating supervisors and relevant competent authorities.

The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), together with their Interim Working Committee on Financial Conglomerates (IWCFC), publish today ten principles for the functioning of supervisory colleges.

The Committee of European Banking Supervisors (CEBS) today publishes its guidelines for the operational functioning of colleges.

CEBS has published today a revised Template for written agreements between supervisors for the functioning of colleges. This revised Template supersedes the document that was published in December 2007. It provides a framework for cooperation among supervisors within a college of supervisors and facilitating the effective working of supervisory colleges of supervisors.