The European Banking Authority has published a recommendation setting out its opinion on the confidentiality regime of several non-EU supervisory authorities to facilitate their participation in supervisory colleges overseeing international banks, led by EU supervisors.

The EBA expects all competent authorities to which the recommendation is addressed to comply with it and incorporate it into their supervisory practices as appropriate. The competent authorities must notify the EBA as to whether they have complied or intend to comply by June 2, 2015.

In a separate report, the EBA has identified that supervisory authorities across the EU have made significant progress towards improving the convergence of their supervisory practices since 2011 though some differences remain. The report covers the findings of an assessment carried out over the past 3 years, and focuses on Supervisory Review and Evaluation Process and assessment of risks, supervisory stress testing, ongoing review of internal models, and supervisory measures and powers.