First meeting of CEBS

29 January 2004

The first meeting of the new Committee of European Banking Supervisors (CEBS) was held on 29 January. CEBS will fulfil the functions of Level 3 Committee for the banking sector in the application of the 'Lamfalussy' Process. Its role is to advise the Commission on the preparation of draft implementing measures in the field of banking activities. Furthermore, the new Committee contributes to the consistent implementation of Community Directives and to the convergence of Member States’ supervisory practices and enhance supervisory co-operation.

Press release

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