Article 115

Capital Requirements Directive (CRD) > TITLE VII > CHAPTER 3 > Section I > Article 115
Article 115
Coordination and cooperation arrangements
Main content: 

1.    In order to facilitate and establish effective supervision, the consolidating supervisor and the other competent authorities  shall have written coordination and cooperation arrangements in place.

Under those arrangements additional tasks may be entrusted to the consolidating supervisor and procedures for  the  decision-making process and for cooperation with other competent authorities, may be specified.

2.    The competent authorities responsible for authorising the subsidiary of a parent undertaking which is an institution may, by bilateral agreement, in accordance with Article 28 of Regulation (EU) No 1093/2010, delegate their responsibility for supervision to the competent authorities which authorised and supervise the parent under­ taking so that they assume responsibility for supervising the subsidiary in accordance with this Directive. EBA shall be kept informed of the existence and content of such agreements. It shall forward such information to the competent authorities of the other Member States and to the European Banking Committee.

3.    Where the consolidating supervisor is different from the competent authority in the Member State where a financial holding company or mixed financial holding company that has been granted approval in accordance with Article 21a is established, the coordination and cooper­ ation arrangements referred to in paragraph 1 of this Article shall also be concluded with the competent authority of the Member State where the parent undertaking is established.