Both of these groups include representatives of each National Competent Authority (NCA). Moreover, a restricted  BIS central bankers’ speeches  5  Project Team, composed of managers from the supervisory and financial stability areas, has been created between the ECB and the national authorities to foster the communication and cooperation within the system.
The technical work is organized in five work streams, focusing on an initial mapping of the euro area banking system, legal issues, the development of a supervisory model, the coordination of the comprehensive assessment of the credit institutions and the preparation of a future supervisory reporting template for the SSM.