The EBA has launched a consultation on two RTS and ITS on the functioning of supervisory colleges under the CRD. These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges is better aligned with the Level 1 regulation and able to promote a more efficient and effective supervision of cross-border banking groups. The main updates covered the following areas: (i) enhanced information exchange within the college, as well as with observers, in going concern and in emergency situations; (ii) effective identification of emerging risks in case of an event of adverse material impact on the risk profile of the group or its entities; and (iii) appropriate use of the possibility for “entrustment of tasks and delegation of responsibility”, when it facilitates efficient and effective supervision of cross-border banking groups.