(1) In the exercise of its duties under these Regulations, the Bank shall take into account the convergence of supervisory tools and supervisory practices in the application of the legal provisions adopted pursuant to the Investment Firms Directive and Regulation (EU) 2019/2033.

(2) The Bank shall -

(a) as a party to the ESFS, cooperate with the competent authorities of other Member States with trust and full mutual respect, in particular when ensuring the exchange of appropriate, reliable and exhaustive information between them and other parties to the ESFS,

(b) participate in the activities of EBA and, as appropriate, in the colleges of supervisors referred to in Regulation 44 and in Regulation 104 of the European Union (Capital Requirements) Regulations 2014,

(c) make every effort to ensure compliance with the guidelines and recommendations issued by EBA pursuant to Article 16 of Regulation (EU) No 1093/2010 and to respond to the warnings and recommendations issued by the European Systemic Risk Board pursuant to Article 16 of Regulation (EU) No 1092/2010 of the European Parliament and of the Council, and

(d) cooperate closely with the European Systemic Risk Board.