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CEBS and CEIOPS, together with their Interim Working Committee on Financial Conglomerates, published ten principles for the functioning of supervisory colleges.
The committees have jointly prepared ten common principles which are relevant for the banking, insurance and financial conglomerates sectors, regarding the functioning of colleges of supervisors.
These common principles are based upon their existing work and supervisory experience, including their recent experience on the functioning of colleges of supervisors in a crisis situation.
The establishment of colleges of supervisors, and their effective functioning, have been key issues for the committees since their establishment. Enhancing the functioning of colleges of supervisors will remain a key priority for the committees. Further the committees will, in close co-operation with each other, focus their future work on enhancing and monitoring the coherence of the supervisory practices of the different colleges.