EACB Note on draft GL on the convergence of practices aimed at ensuring consistency of supervisory coordination arrangements for financial conglomerates (JC/CP/2014/02).
The members of the European Association of Co-operative Banks (EACB) appreciate the efforts of ESAs to harmonise the exchange of information among the supervisors of conglomerates, in order to achieve a more efficient and effective framework ensuring that risks are appropriately assessed and monitored. The guidelines however need clarifications on certain passages not to raise ambiguities that could make supervisory coordination ineffective.
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