1. The Board of Supervisors shall be composed of:

(a) the Chairperson;

(b) the head of the national public authority competent for the supervision of credit institutions in each Member State, who shall meet in person at least twice a year;

(c) one representative of the Commission, who shall be non-voting;

(d) one representative nominated by the Supervisory Board of the European Central Bank, who shall be non-voting;

(e) one representative of the ESRB, who shall be non-voting;

(f) one representative of each of the other two European Supervisory Authorities, who shall be non-voting.

2. The Board of Supervisors shall convene meetings with the Banking Stakeholder Group regularly, at least twice a year.

3. Each competent authority shall be responsible for nominating a high-level alternate from its authority, who may replace the member of the Board of Supervisors referred to in paragraph 1(b), where that person is prevented from attending.

4. Where the authority referred to in paragraph 1(b) is not a central bank, the member of the Board of Supervisors referred to in that point may decide to bring a representative from the Member State's central bank, who shall be non-voting.