Article 53

Capital Requirements Directive (CRD) > TITLE VII > CHAPTER 1 > Section II > Article 53
Article 53
Professional secrecy
Main content: 

1.    Member States shall provide that all persons working for or who have worked for the competent authorities and auditors or experts acting on behalf of the competent authorities shall be bound by the obligation of professional secrecy.
Confidential information which such persons, auditors or experts receive in the course of their duties may be disclosed only in summary or aggregate form, such that individual credit institutions cannot be ident­ ified, without prejudice to cases covered by criminal law.

Nevertheless, where a credit institution has been declared bankrupt or is being compulsorily wound up, confidential information which does not concern third parties involved in attempts to rescue that credit institution may be disclosed in civil or commercial proceedings.

2.    Paragraph 1 shall not prevent the competent authorities from exchanging information with each other or transmitting information to the ESRB, EBA, or the European Supervisory Authority (European Securities and Markets Authority)  ("ESMA")  established  by Regulation (EU) No 1095/2010  of  the  European  Parliament  and  of the  Council (1)  in   accordance   with   this   Directive,   with Regulation (EU) No 575/2013, with other Directives applicable  to credit institutions, with Article 15 of Regulation (EU) No 1092/2010, with Articles 31, 35 and 36 of Regulation (EU) No 1093/2010 and with Articles 31 and 36 of Regulation (EU) No 1095/2010. That information shall be subject to paragraph 1.

3.    Paragraph 1 shall not prevent the competent authorities from publishing the outcome of stress tests carried out in accordance with Article 100  of  this  Directive  or  Article  32  of  Regulation  (EU) No 1093/2010 or from transmitting the outcome  of  stress  tests  to EBA for the purpose of the publication by EBA of the results of Union-wide stress tests.


(1) OJ L 331, 15.12.2010, p. 84