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The draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on the functioning of the colleges of supervisors have been published as one document. The draft RTS specifies the general conditions for the establishment and functioning of colleges of supervisors, while the draft ITS establish important procedures to structure and facilitate the interaction and cooperation between the consolidating supervisor and the relevant competent authorities.
In particular, they detail the conditions for the establishment and functioning of colleges of supervisors, coordination and cooperation arrangements between competent authorities of cross-border banking groups and exchange of information necessary for performing key supervisory tasks in a joint and coordinated manner in both going concern and emergency situations.
In finalising these standards the EBA took into consideration the responses submitted during the consultation period. These standards aim at facilitating the interaction and cooperation between authorities at EU and global level, recognising possible involvement of third-country supervisory authorities, and strengthening supervision of cross-border banking groups across the EU