1. 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.
2. 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.
3. The Commission shall be present at the meetings of the Committee and shall designate a high-level representative to participate in its debates.
4. The Committee shall elect a chairperson from among the representatives of the competent supervisory authorities.
5. The Committee may invite experts and observers to attend its meetings.