The Presidency of the Council of the EU has published a short issues note ahead of the ECOFIN meeting on 7 November 2017. The note concerns the review of the European System of Financial Supervision (ESFS) and the legislative proposals that the European Commission has published.

In the note the Presidency invites Ministers to express their views on the following issues:

• The current review is an opportunity to take stock of and further improve the functioning of the ESFS. Should the co-legislators seize this opportunity also to prepare the ESFS for potential future challenges?
• Are there elements of the ESFS review package which should be prioritised in order to address short-term challenges?
• Given that the financial integration in the EU is progressing, in which areas and to what extent should the powers of the European Supervisory Authorities be strengthened with a view to creating a more integrated supervisory framework?

View Review of the European System of Financial Supervision – Presidency issues note, 20 October 2017