Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: Committee of European Banking Supervisors | Statement: [European Banking Authority, replaces, Committee of European Banking Supervisors]

Target entity: Committee of European Banking Supervisors
Context triple: [European Banking Authority, replaces, Committee of European Banking Supervisors]

• A. European Banking Authority
  The European Banking Authority is an EU regulatory agency that works to ensure effective and consistent banking supervision and financial stability across member states.
• B. Basel Committee on Banking Supervision
  The Basel Committee on Banking Supervision is an international standard-setting body that formulates global regulatory frameworks and guidelines to strengthen the regulation, supervision, and risk management of banks.
• C. European Systemic Risk Board (before Brexit-related changes)
  The European Systemic Risk Board (before Brexit-related changes) was the EU-level body responsible for macroprudential oversight and monitoring of systemic risks to financial stability across the European Union.
• D. European Banking Federation
  The European Banking Federation is a leading industry association representing the interests of the European banking sector and its national banking associations at the EU and international levels.
• E. European Securities and Markets Authority
  The European Securities and Markets Authority is an independent EU authority responsible for enhancing investor protection and promoting stable, orderly financial markets across the European Union.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: Committee of European Banking Supervisors
Triple: [European Banking Authority, replaces, Committee of European Banking Supervisors]

The Committee of European Banking Supervisors was a former EU advisory body that coordinated banking supervision and regulatory standards across member states before being succeeded by the European Banking Authority.

Target entity: Committee of European Banking Supervisors
Target entity description: The Committee of European Banking Supervisors was a former EU advisory body that coordinated banking supervision and regulatory standards across member states before being succeeded by the European Banking Authority.

• A. European Banking Authority
  The European Banking Authority is an EU regulatory agency that works to ensure effective and consistent banking supervision and financial stability across member states.
• B. Basel Committee on Banking Supervision
  The Basel Committee on Banking Supervision is an international standard-setting body that formulates global regulatory frameworks and guidelines to strengthen the regulation, supervision, and risk management of banks.
• C. European Systemic Risk Board (before Brexit-related changes)
  The European Systemic Risk Board (before Brexit-related changes) was the EU-level body responsible for macroprudential oversight and monitoring of systemic risks to financial stability across the European Union.
• D. European Banking Federation
  The European Banking Federation is a leading industry association representing the interests of the European banking sector and its national banking associations at the EU and international levels.
• E. European Securities and Markets Authority
  The European Securities and Markets Authority is an independent EU authority responsible for enhancing investor protection and promoting stable, orderly financial markets across the European Union.
• F. None of above. chosen