A building block of any crisis management system is the effective and efficient work of colleges of supervisors. They are the natural body where possible and viable ways forward on a co-ordinated approach to crisis resolution can be discussed and organised (contact lists, stock-taking on legal and regulatory frameworks, data collection, procedural and organisational aspects of crisis management including possible scenarios of burden sharing).
As a home supervisor, the Bank of Italy has put much effort in setting up these colleges and making them work, coordinating the process for all cross-border groups it supervises, and convening meetings of the Cross-Border Stability Groups and Crisis Management Teams for Italian banking groups.