Scope and frequency

The scope of information exchange between competent authorities should include all relevant or essential information needed for the tasks referred to in Article 11 of Directive 2002/87/EC. This should, when applicable, include information relevant for the stress testing of financial conglomerates as specified in Article 9(b) of Directive 2002/87/EC.

The exchange of information between the coordinator and the competent authorities should reflect the needs of the supervisors involved. While coordinating the information flows, the coordinator should take due account of the nature of the supervised entities in the financial conglomerate, their relevance within the conglomerate and the significance of their local markets.

Competent authorities should agree on the frequency, formats and templates for the regular exchange of information. Templates should be agreed on between coordinator and the competent authorities, in particular for the gathering of information on risk concentration and intra-group transactions.

If a competent authority receives a request for relevant information from another competent authority, it should provide the information without undue delay. Any other essential information that may affect the financial position of either the conglomerate as a whole or of any of its individual undertakings should be communicated to the coordinator or to the competent authority concerned as soon as practicable.