Composition and mandate
The European Banking Committee (EBC) was set up by a Commission Decision on November 2003.
The EBC fulfils both advisory and comitology functions. It advises the Commission on policy issues related to banking activities and assists the Commission in adopting implementing measures for EU legislation.
The Committee is composed of high-level representatives from EU countries (mostly from Ministries of Finance). Observers from the European Central Bank, the European Banking Authority (formerly, the Committee of European Banking Supervisors), as well as from EFTA countries and candidate countries are also invited to attend. The Commission also invites, if appropriate, other experts to attend the meetings.
The EBC is run by the European Commission. Its meetings are being chaired by a high representative of the Commission and the secretariat is being provided by the Commission as well. The Committee usually meets three or four times a year. It held its first formal meeting in July 2005.