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The guidelines complement the existing Guidelines for Co-ordination Committees and are aimed at further developing the co-operation and co-ordination between supervisory authorities.
The guidelines for the management of a financial crisis will allow supervisory authorities to enhance their preparedness during normal times and to better deal with the different stages of the crisis.
The main objective of the co-ordination is to ensure that information is shared and that decisions, policy measures and related external communications of the supervisory authorities are co-ordinated and consistent.
Further more, co-operation between the supervisory authorities will take place on the basis of the existing institutional and legal framework for stability in Member States as well as the applicable Community legislation, fully respecting the roles and the division of responsibilities among them.