The Committee shall be composed of high level representatives from the following organisations:
the national public authorities competent for the supervision of credit institutions, hereinafter "the competent supervisory authorities"
the national central banks entrusted with specific operational responsibilities for the supervision of individual credit institutions alongside a competent supervisory authority
the central banks which are not directly involved in the supervision of individual credit institutions, including the European Central Bank
Each Member State shall designate high level representatives to participate in the meetings of the Committee. The European Central Bank shall designate a high level representative to participate in the Committee.
The Commission shall be present at the meetings of the Committee and shall designate a high level representative to participate in its debates.
Whenever confidential information concerning an individual supervised institution is exchanged, participation in that discussion may be restricted to the competent supervisory authorities and the national central banks entrusted with specific operational responsibilities for the supervision of the individual credit institutions concerned.
The Committee shall elect a chairperson from among the representatives of the competent supervisory authorities.
The Committee may invite experts and observers to attend its meetings.