The CSSF represents Luxembourg at European and international level regarding the financial sector. In this context, the CSSF cooperates with the European supervisory authorities and the European and international organisations and institutions in order to participate in the development of the supervisory framework and to ensure financial stability. In addition, the CSSF signs bilateral agreements with non-EU authorities and multilateral agreements (memoranda of understanding). Together with the other Member States of the euro area, the CSSF participates in the banking supervision in the framework of the Single Supervisory Mechanism (SSM) and ensures the implementation of the recommendations issued at European level on the transparency of the supervisory authorities (Supervisory Disclosure).