In fact, only two weeks ago, we hosted the ING college in Amsterdam. Colleges of supervisors are also promoted on the European level. In response to the growing integration of Europe’s banking industry and to the specific nature of trans-national banking groups, ECOFIN Finance Ministers have called for the set-up of colleges of supervisors.
Furthermore, the European Commission has set up a “high level” group headed by former Bank of France Governor Jacques de Larosière, to bring forward ideas on strengthening EU financial supervision. There are two possible outcomes. Either cooperation will intensify gradually – building forth on existing institutions such as CEBS –, or cooperation will intensify abruptly – creating a European Financial Supervisory Authority.