Agreements with third countries

(1) Agreements with third countries may set out the manner of cooperation between the resolution authority and the supervisory authority and the respective third-country authorities, in particular for the purpose of exchanging information in connection with recovery and resolution planning in respect of institutions, financial institutions, parent undertakings, and third-country institutions, in the following cases: 1. cases in which a third-country parent undertaking or third-country institution has subsidiary institutions or branches classified as significant, in Germany and in at least one other Member State; 2. cases in which a parent undertaking established in Germany, which has a subsidiary undertaking or a significant branch in at least one other Member State, has one or more third-country subsidiary institutions; 3. cases in which an institution or significant branch established in Germany, which has a parent undertaking, a subsidiary undertaking, or a significant branch in at least one other Member State, has one or more subsidiary undertakings or one or more significant branches in at least one third country; 4. cases in which a parent undertaking established in Germany, which has a subsidiary undertaking or a significant branch in at least one other Member State, has one or more subsidiary undertakings or one or more significant branches in a third country.
(2) The agreements referred to in subsection (1) may not contain provisions relating to individual institutions, financial services institutions, parent undertakings, or third-country institutions.
(3) The agreements referred to in subsection (1) must satisfy at least the substantive requirements of section 168(3) and (4), and should, in particular, govern cooperation between the resolution authority and the respective third-country authority in performing the tasks described in section 168, and in exercising the powers referred to there.
(4) The agreements referred to in subsection (1) are concluded for an indefinite period and cease to have effect once the European Council, on the basis of Commission proposals, has concluded agreements in accordance with the requirements of Article 93 of Directive 2014/59/EU.