ECA reports on regulatory reform: ECA, tasked with carrying out independent external reviews of EU Finances, has published a report on banking supervision at  European level. The report contains recommendations on better regulation, supervisory colleges and convergence, and the delineation of functions and responsibilities, particularly now that the Single Supervisory Mechanism is about to begin its work. The report also includes the responses by the Commission and EBA. (Source: European Banking Supervision Taking Shape — EBA and Its Changing Context)