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European Supervisory Architecture

The three existing committees of supervisory authorities (CEBS, CEIOPS and CESR) were replaced by the European Supervisory Authorities (EBA, EIOPA und ESMA) from 1 January 2011, with the new authorities having additional competences conferred upon them in addition to continuing to conduct the activities conducted by their predecessors. A European Systemic Risk Board (ESRB) was established at the same time. Within operative banking supervision, the Financial Market Authority cooperates closely with the European Central Bank within the Single Supervisory Mechanism (SSM).

Further Information