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CEBS published its' Annual Report for 2006. The report together with work programme, set out CEBS’ methods and objectives, and should assist the European Institutions, the banking industry, and users of banking services in assessing how well CEBS is fulfilling its tasks.
During 2006, and to an even greater extent in the first months of 2007, the direction of CEBS’ work has been shifting from design to delivery: from the development of common supervisory approaches through guidelines, to the implementation and application of the commonly agreed principles in day-to-day supervisory practices, said Daniele Nouy, chair of CEBS.
The real test of convergence will be CEBS’ impact on the practical day-to-day supervision of cross-border banking groups in the longer term and on the ability to foster good supervisory practices and address level playing field issues in areas affecting the whole EU banking sector, Mrs Nouy continued. These are the areas on which CEBS’ success will ultimately be judged.