Cooperation in the supervision of branches and credit institutions belonging to the same third-country group

Where the Federal Institute is responsible for supervising branches of an undertaking within the meaning of section 53 with its registered office in a third country, or for credit institutions belonging to the same third-country group, it exchanges with the other authorities within the European Economic Area responsible for supervising undertakings or branches belonging to the group all information necessary for supervision, in order to prevent circumvention of the requirements applicable to third-country groups under this Act and Regulation (EU) No 575/2013. The Federal Institute must have regard to the stability of the financial system of the European Economic Area in this regard.