Recital 8 Risk assessments by competent authorities

To allow for an efficient and effective sharing of information, the competent authorities should assess, as part of their supervisory activities, the extent to which the financial entities supervised by them are exposed to the risks identified in the recommendations. This assessment should be carried out in a proportionate and risk-based manner. The Lead Overseermeans the European Supervisory Authority appointed in accordance with Article 31(1), point (b) of this Regulation; should request the competent authorities to share the results of this assessment in the specific cases when the risks associated with the recommendations are severe and shared among a large number of financial entities in multiple Member States. To make the best use of the resources of the competent authorities, when asking to provide the results of this assessment, the Lead Overseermeans the European Supervisory Authority appointed in accordance with Article 31(1), point (b) of this Regulation; should always take into account that the objective of these requests is to evaluate the implementation of actions and remedies of the critical ICT third-party service providersmeans an ICT third-party service provider designated as critical in accordance with Article 31;.