The Committee of European Banking Supervisors (CEBS) is publishing today a Protocol for a mediation mechanism, after having submitted it for public consultation on 19 March 2007. (http://www.c-ebs.org/Consultation_papers/consultationpapers.htm).
The objective is to facilitate and speed up the supervisory procedures set out in the Capital Requirements Directive and to support the application of the pre-existing cooperation tools among supervisors such as the CEBS Guidelines on validation and on home/host cooperation. CEBS reiterates its commitment to using all tools at its disposal, including mediation, to achieve further convergence and reduce the supervisory burden of cross-border banking groups.