1. The following authorities shall be involved in the authorisation and supervision of CSDs where specifically referred to in this Regulation:
(a) the authority responsible for the oversight of the securities settlement system operated by the CSD in the Member State whose law applies to that securities settlement system;
(b) the central banks in the Union issuing the most relevant currencies in which settlement takes or will take place;
(c) where relevant, the central bank in the Union in whose books the cash payments of a securities settlement system operated by the CSD is or will be settled.
2. ESMA shall publish on its website the list of the relevant authorities referred to in paragraph 1.
3. ESMA shall, in close cooperation with the members of the ESCB, develop draft regulatory technical standards specifying the conditions under which the Union currencies referred to in point (b) of paragraph 1 are considered to be the most relevant, and efficient practical arrangements for the co
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