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The report provides a description of the general framework for the ECB’s oversight activities and describes the ECB’s oversight activities carried out in 2007, including its legal basis, the main standards applied and the systems that fall under the ECB’s oversight competencies.
The report also explains recent changes in the business and legal environment that have an impact on the oversight function of the ECB.
It also provides a short overview of the background and the objectives of the current initiatives being developed in the field of oversight as there will be a number of topics that will play a prominent role on the agenda of the Eurosystem’s overseers in coming years.