Article 96 Cooperation with EBA and ESMA

This article establishes the information-sharing and cooperation framework between national competent authorities and the two European supervisory bodies, ESMA and EBA.

It sits within the broader supervisory cooperation architecture of the regulation, complementing Article 95 which governs cooperation between competent authorities themselves.

Here, the focus shifts specifically to the vertical relationship between national authorities and the European level, requiring close cooperation and the prompt provision of all necessary information.

To make this cooperation practical and consistent across Member States, ESMA is tasked with developing standardised forms, templates, and procedures for these exchanges.

Important points:

• Competent authorities are required to cooperate closely with both ESMA and EBA, exchanging information to carry out their supervisory duties.
• Competent authorities are required to provide EBA and ESMA with all necessary information without delay.
• ESMA, in cooperation with EBA, is required to develop implementing technical standards to standardise the forms and procedures for this information exchange, with a submission deadline to the Commission of 30 June 2024.