Written coordination arrangements between the coordinator and the competent authorities

Written coordination arrangements established for sectoral supervision should be complemented with any additions needed to facilitate the effective supplementary supervision of a financial conglomerate.

The additions should be tailored to reflect the nature, size and complexity of the financial conglomerate. The additions to written arrangements should at least include the procedures to follow in emergency situations, where a higher frequency of contacts and a faster response should be established.

Alternatively, the coordinator and the competent authorities could agree on establishing new written coordination arrangements at the financial conglomerate level, which should include the scope and frequency of information exchange and refer to paragraphs 24 and 25 in relation to coordination and information exchange in going concern and emergency situations and paragraph 33 as regards the assessment of the financial situation of a conglomerate.