Committee of European Banking Supervisors (CEBS)

On 5 November 2003, the European Commission adopted a Decision establishing the Committee of European Banking Supervisors (CEBS). This Decision entered into force on 1 January 2004.

CEBS comprised of high level representatives from the banking supervisory authorities and central banks of the European Union. Their role is to: Advise the Commission, either at the Commission's request, within a time limit which the Commission may lay down according to the urgency of the matter, or on the Committee's own initiative, in particular as regards the preparation of draft implementing measures in the field of banking activities; Contribute to the consistent implementation of Community Directives and to the convergence of Member States' supervisory practices throughout the Community; Enhance supervisory co-operation, including the exchange of information.