CBSM and AFA continue their collaboration in the framework of a common path toward European integration

The Central Bank of San Marino and the Andorran Supervisory Authority (AFA) have long been working together on supervisory matters, in anticipation of the integration of their respective financial systems into the European single market, as outlined in the Protocol for Financial Services (PSF) within the Association Agreement with the European Union, which is currently being formalized.

In this context, and with a shared goal of strengthening their international relations, the two Authorities sent representatives to the joint conference of the European Central Bank and the European Banking Authority, titled "Meeting the Challenges of Supervision through Strengthening Collaboration," held in Frankfurt on September 3 and 4, 2024.

This participation also facilitated continued discussions, directly between the respective Directors General, in addition to regular conference calls between the CBSM and AFA teams, regarding their supervisory activities and international relations, especially in light of the upcoming challenges the PSF will present to the financial systems of both countries and their Supervisory Authorities.