3. Consultation and information exchange between the competent authority and the resolution authority

Without prejudice to Article 90 and Article 32(2) of Directive 2014/59/EU, in order to facilitate the timely flow of information for the purpose of assessing whether an institution is failing or likely to fail, the competent authority and the resolution authority should exchange information in accordance with the requirements set out below.

Before concluding the determination that the institution is failing or likely to fail, the competent authority and resolution authority should appropriately discuss the results of their assessments.

Upon identifying the presence of the objective elements specified in Title II of these Guidelines the resolution authority should request the competent authority to explain whether and how these circumstances have been reflected in the overall SREP assessment of the institution.

3.1. Information provided by the competent authority

3.2. Information provided by the resolution authority