In March 2005 the Committee of European Banking Supervisors (CEBS) approved its Public Statement of Consultation Procedures (the Statement). The Statement identified as a principle that CEBS will need to consult on its guidelines relating to the convergence of Member States' supervisory practices.

CEBS has now published a Consultation Paper which proposes adjustments to its consultation process including the introduction of a simplified consultation procedure. The proposals in the Consultation Paper, when approved, will be incorporated into the Statement. The consultation period closes on 19 June 2007.