The European Banking Authority (EBA) has published a report and an opinion on the application of legal provisions on cooperation and information sharing between EU and third country supervisory authorities. The objective of the report is to identify any issues and areas of improvement and to propose legislative changes, where needed, to better facilitate prudential supervision of institutions on a cross-border basis.

Overall, the EBA concludes that although cooperation with third country supervisory authorities does not pose any major concerns, more clarity is needed especially in the equivalence assessment processes of third country supervisory and regulatory regimes, confidentiality provisions, and consolidated supervision.

View EBA identifies areas of improvement in the cooperation between EU and third countries, 15 December 2015