advisory committee - in the field of debt restructing, a committee consisting of the lead banks for loans to these countries, involved in organizing and managing the additional financing needed for the country and for negotiating the debt restructuring procedure
Notwithstanding the requirements of paragraph 8, the competent authorities responsible for authorizing the subsidiary of a parent undertaking which is a credit institution may, by bilateral agreement, delegate their responsibility for supervision to the competent authorities which authorized and supervise the parent undertaking. The Commission must be kept informed of the existence and content of such agreements. It shall forward such information to the competent authorities of the other Member States and to the Banking Advisory Committee.
