Five central and Eastern European central banks make a special plea today for the countries of the region to be regarded by investors on merit rather than lumped together.

Information about the exposure of Western banks in CEE is often "simplified and misleading and could have negative implications for banks operating in these countries," the central banks of Bulgaria, Czech, Romania and Slovakia, as well as the Polish financial regulator, declared in a statement posted on the Slovak central bank's website.

The statement published in Slovak reads: 'This is the view of Committee of European Banking Supervisors (CEBS) representing financial controlling bodies in the CEE region (Central banks in Czech Rep., Slovakia, Romania, Bulgaria and Commission of Financial Control in Poland) regarding the perception of the CEE region and their financial systems.

'CEBS is concerned about the view widely promoted in the press and taken by the 'old' EU members that CEE banking systems pose a danger to some of the EU members due to their involvement in the region. Such views greatly simplify the real situation and may have a negative impact on the banking system in the CEE. It also support speculation about the future economic growth in these countries and creates false expectations, which are very unfavourable for the region.

'The CEE region is not homogenous in terms of economy, financial and banking systems (the only common denominator is the high percentage of financing from deposits).

'It is crucial to underline the differences between countries - EU members and non-EU members and identify problems specific to each country.

'Supervisory authorities in the CEE and EU members would appreciate it if future risk assessments of CEE countries and their potential impact on the economies of European countries would respect the roles and responsibilities of supervisory authorities and the governments of each country (including consideration of all possible measures to maintain the stability of individual financial institutions and financial sector of each country).

'It is also important to note that the supervisory authorities of the EU members promote close supervisory cooperation in the CEE aimed at a coordinated approach that addresses issues of current financial crisis.'

(The sentiment is one PS has long expressed - see here )