Committee of European Banking Supervisors
| Agency overview | |
|---|---|
| Formed | 1 January 2004 |
| Dissolved | 1 January 2011 |
| Superseding agency | |
| Jurisdiction | European Union |
| Headquarters | City of London, United Kingdom |
| Website | www |
The Committee of European Banking Supervisors (CEBS) was an independent advisory group on banking supervision in the European Union (EU). Established by the European Commission in 2004 by Decision 2004/5/EC, and its charter revised on 23 January 2009, it was composed of senior representatives of bank supervisory authorities and central banks of the European Union. On 1 January 2011, this committee was succeeded by the European Banking Authority (EBA), which took over all existing and ongoing tasks and responsibilities of the Committee of European Banking Supervisors (CEBS). The European Banking Authority was established by Regulation (EC) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010.
Its role was to:
European Economic Area countries which are not EU members participated as permanent observers.
The other level-3 committees of the European Union in the Lamfalussy process are the Committee of European Securities Regulators and the Committee of European Insurance and Occupational Pensions Supervisors.
"As part of the so-called Lamfalussy process, the Commission adopted Decision 2004/5/EC of 5 November 2003, establishing the Committee (OJ L 3, 7.1.2004, p. 28.).
The Committee took up its duties on 1 January 2004, serving as an independent body for reflection, debate and advice of the Commission in the field of banking regulation and supervision. [...] to establish a new organisational structure for financial services committees (OJ L 79, 24 March 2005, p. 9.), the Commission carried out a review of the Lamfalussy process in 2007 and presented its assessment in a Communication of 20 November 2007 entitled ‘Review of the Lamfalussy process – Strengthening supervisory convergence’ (COM(2007) 727 final.).
In the Communication, the Commission pointed out the importance of the Committee of European Securities Regulators, the Committee of European Banking Supervisors and the Committee of European Insurance and Occupational Pensions Supervisors (hereinafter the Committees of Supervisors) in an increasingly integrated European financial market. A clear framework for the activities of these Committees in the area of supervisory convergence and cooperation was deemed necessary.
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