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The draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on the functioning of the colleges of supervisors, launched for public consultation, cover the general condition on the functioning of colleges and how colleges’ supervisory activities should be planned in both normal and emergency situations. The standards aim at facilitating the interaction and cooperation between authorities at EU and global level and strengthening supervision of cross-border banking groups across the EU.
In particular, they detail the conditions for the establishment and functioning of colleges of supervisors, 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. These technical standards will facilitate the interaction and cooperation between competent authorities while performing this task in an efficient and consistent way.
The consultation is open until October 3, 2014.