The European Banking Authority (EBA) has published a Consultation Paper on draft regulatory technical standards (RTS) and draft implementing technical standards (ITS) on the functioning of colleges of supervisors in accordance with Articles 51(4) and 116(4) of the CRD IV Directive (CRD IV).
The draft RTS and ITS both for colleges under Articles 51 and 116 of the CRD IV are structured into three main chapters, namely:
- general conditions of functioning of colleges;
- planning and coordination of supervisory activities in going-concern situations; and
- planning and coordination of supervisory activities in preparation for and during emergency situations.
The deadline for comments on the Consultation Paper is 3 October 2014. The EBA is holding a public hearing on 10 September 2014.
