(1) The Bank is designated as the authority in the State that carries out the functions and duties of a designated authority for the purposes of Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 [OJ No. L 173, 12.06.2014, p. 149].

(2) The designated authority shall supervise deposit guarantee schemes on an ongoing basis as to their compliance with these Regulations.

(3) The designated authority may require, at any time and upon its request, from credit institutions all the information necessary to prepare for a repayment of depositors, including markings under Regulation 10(2) and, where required, the credit institutions shall comply with any such requirement.

(4) The designated authority shall ensure the confidentiality, and protection, of data pertaining to depositors' accounts.

(5) The processing of the data referred to in paragraph (4) shall be carried out in accordance with the Data Protection Acts 1988 and 2003.