Skip to main content
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 December 2020 - onwards

9CB. Cooperation with competent authorities

Where -

(a) a branch of a credit institution which is part of a third-country group and has its head office in a third country is supervised by a competent authority in an EEA member state (in this section referred to as 'a third-country group branch competent authority'),

(b) an institution in the third-country group is supervised by a competent authority in another EEA member state (in this section referred to as 'a third-country group credit institution competent authority'), and

(c) the Bank is either a third country group branch competent authority or a third-country group credit institution competent authority,

the Bank shall cooperate closely with all third country branch competent authorities and third country group credit institution competent authorities -

(i) to ensure that all activities of that third-country group in the European Union are subject to comprehensive supervision,