Committee of European Banking Supervisors explained

Committee of European Banking Supervisors
Superseding1:European Banking Authority
Jurisdiction:European Union
Headquarters:City of London, United Kingdom

The Committee of European Banking Supervisors (CEBS) was an independent advisory group on banking supervision in the European Union (EU), active from its establishment in 2004[1] to its replacement on 1 January 2011 by the European Banking Authority (EBA) which took over all its tasks and responsibilities following Regulation (EC) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010.[2]

CEBS was one of three so-called level-3 committees of the European Union in the Lamfalussy process, together with the Committee of European Securities Regulators (CESR) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).

Background

CEBS succeeded the Groupe de Contact (generally referred to by its French name), an informal gathering of banking supervisors that had existed since 1972 and played a role in the establishment in 1974 of the Basel Committee on Banking Supervision.[3] The Groupe de Contact continued activity, including after the establishment in 1998 of the European Central Bank and its Banking Supervision Committee, as a lower-level venue for addressing individual supervisory cases of common interest. The Groupe de Contact also produced studies that informed other policy processes, including at the global level through the Basel Committee. Upon the creation of CEBS, the Groupe de Contact was subsumed into it as one of the CEBS expert groups.

Overview

CEBS was established by the European Commission by Decision 2004/5/EC,[4] and held its first meeting on . Its charter revised on 23 January 2009, CEBS was composed of senior representatives of bank supervisory authorities and central banks of the European Union. European Economic Area countries which are not EU members participated as permanent observers.

Its role was to:

So the European Commission's decision (2009/78/EC) of 23 January 2009, "for reasons of legal security and clarity", repealed, in its 16th article Decision 2004/5/EC,[1] which changed the legal framework of the committee.

On 1 January 2011, the committee was superseded by the European Banking Authority.[2]

Membership

Depending on national supervisory architecture, namely whether banking supervision was separate or not from the central bank, each member state had either one or two members in CEBS:[5]

Observers:

Location

The office of the Secretariat of the CEBS was located in the City of London, UK.[6]

See also

External links

Notes and References

  1. Web site: OJEU 29.1.2009 – COMMISSION DECISION of 23 January 2009 establishing the Committee of European Banking Supervisors (2009/78/EC) . OJEU . 4 October 2009 . L 23–27 .
  2. http://www.eba.europa.eu/ European Banking Authority
  3. Book: Goodhart, C. A. E. (Charles Albert Eric). The Basel Committee on Banking Supervision : a history of the early years, 1974-1997. 9781139117739. Cambridge, UK. 769341794.
  4. http://europa.eu/legislation_summaries/internal_market/single_market_services/financial_services_banking/l22025_en.htm "Banks: regulatory and supervisory consultative committees"
  5. }
  6. Web site: CEBS – about us . 4 October 2009 . https://web.archive.org/web/20090321051922/http://www.c-ebs.org/Aboutus.aspx . 21 March 2009 . dead .

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