(1) The Authority shall cooperate closely with -

(a) the competent authorities in other Member States performing the general supervision of credit institutions in accordance with relevant European Union law applicable to those institutions, and

(b) the resolution authority concerned in the event of the resolution of a credit institution issuing covered bonds.

(2) The Authority shall cooperate closely with competent authorities designated in other Member States for the purposes of Article 18(2) of the Covered Bonds Directive, including by providing such competent authorities with any information which is relevant for the exercise of those other authorities' supervisory tasks under the provisions of national law of the Member State concerned transposing the Covered Bonds Directive.

(3) Without limitation to the generality of subsection (2), the Authority shall communicate -

(a) all relevant information at the request of a competent authority referred to in subsection (2), and

(b) on its own initiative, any essential information to such a competent authority.