Colleges of supervisors

Enhanced cooperation between supervisory authorities both at EU and global level is key to strengthening the supervision of cross-border banking groups. Colleges of supervisors are the vehicles for the coordination of supervisory activities. Under EU law, colleges of supervisors have to be established for EEA banks with subsidiaries or significant branches in other EEA countries. They may include supervisors in non-EEA countries, where relevant. The colleges allow supervisory authorities to join forces, share knowledge and use skills and resources more effectively and efficiently, regardless of their individual jurisdiction. This requires determination and significant efforts to prompt coordinated approaches among competent authorities. To assist in developing a consistent and effective college framework, the EBA's predecessor, CEBS, published guidelines (i) on the operational functioning of colleges and (ii) on the joint assessment of banks' risks, and joint decisions on the adequacy of cross-border banks' capital within a college setting. With the implementation of the Capital Requirements Regulation and the revised Capital Requirements Directive, these guidelines will be replaced by the directly applicable technical standards covering the functioning of colleges and joint decisions on institution-specific prudential requirements.