The Committee of European Banking Supervisors commenced operations

Abstract

A new Committee of European Banking Supervisors has been set up, and has already convened for its first meeting. The Committee members include representatives from all EU countries, the European Commission and the European Central Bank. The Com-mittee provides assistance to the Commission in respect of issues concerning banking regulation and supervision. The purpose is also to promote consistent application of directives, convergence of regulatory practices and exchange of information. Hence, the Committee is entrusted with a wide range of challenging tasks.