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CEBS published its Annual Report 2005 providing an overview about the Committees’ tasks and objectives as well as forthcoming issues. CEBS’ objective is to create an efficient and cost-effective supervision and a level playing field. The direction of CEBS’ work is now shifting from the development of guidelines to the implementation and application of commonly agreed principles.
The future focus of the Committee will be on monitoring the progress achieved in convergence of supervisory practices, and on revising and updating the guidelines in the light of practical experience.
The real test of convergence will be its impact on the practical day-to-day supervision of cross-border banking groups, without neglecting level playing field issues for smaller institutions.