Cooperation with third-country authorities

(1) The provisions of this section apply to cooperation with a third country, insofar and for as long as no agreement under section 167(4) with the third country concerned has entered into force.
(2) With regard to cooperation with a third country, the European Banking Authority may conclude non-binding framework cooperation arrangements with third-country authorities. For as long as no non-binding framework cooperation arrangement has been concluded between the European Banking Authority and the competent third-country authorities, the resolution authority or the supervisory authority may conclude non-binding cooperation arrangements with the following competent third-country authorities:
1. in cases where a subsidiary institution is established in Germany and in at least one other Member State, with the authority of the third country in which the third-country parent undertaking or a third-country institution is established;
2. in cases where a third-country institution maintains one or more Union branches in Germany and in at least one other Member State, with the authority of the third country in which the institution concerned is established;
3. in cases where a group entity established in Germany maintains a subsidiary institution or a significant branch in another Member State and, at the same time, one or more third-country subsidiary institutions or one or more third-country branches, with the authorities of the third countries in which the subsidiary institutions or branches concerned are established;
4. in cases where a group entity established in another Member State maintains a subsidiary institution or a significant branch in Germany and in another Member State and, at the same time, one or more third-country subsidiary institutions or one or more third-country branches, with the authorities of the third countries in which the third-country subsidiary institutions or third-country branches concerned are established;
5. in cases where an institution established in Germany, with a subsidiary institution or a significant branch in another Member State, maintains one or more third-country subsidiary institutions or one or more third-country branches, with the authorities of the third countries in which those branches are established. The cooperation arrangements referred to in this subsection may not contain provisions relating to individual institutions.
(3) The cooperation arrangements referred to in subsection (2) set out the procedures and modalities for exchanging the necessary information, and for cooperation between the authorities involved, for the purposes of performing the following tasks and exercising the following powers in respect of the institutions, or groups to which corresponding institutions belong, referred to in subsection (2), first sentence, points 1 to 5:
1. preparing resolution plans in accordance with sections 40 to 48 and comparable requirements under the law of the respective third countries;
2. assessing the resolvability of institutions and groups in accordance with sections 57 and 58 and comparable requirements under the law of the respective third countries;
3. exercising powers to reduce or remove impediments to resolvability in accordance with sections 59 and 60 and comparable powers under the law of the respective third countries;
4. applying early intervention measures in accordance with section 36 and comparable powers under the law of the respective third countries;
5. applying resolution tools and exercising resolution powers, and comparable powers that may be exercised by the respective third-country authorities.
(4) The cooperation arrangements concluded under subsection (2) may also contain provisions on the following matters:
1. the exchange of information necessary for preparing and updating resolution plans;
2. consultation and cooperation in preparing resolution plans, including the principles for exercising the powers under sections 169 to 171 and comparable powers under the law of the respective third countries;
3. the exchange of information necessary for applying resolution tools and exercising resolution powers, and comparable powers under the law of the respective third countries;
4. early warning to, or consultation of, the parties to the cooperation arrangement, before material measures are taken under this Act or under the law of the third country concerned that affect the institution or group that is the subject of the arrangement;
5. coordinating public communication in the case of joint resolution actions;
6. procedures and modalities for the exchange of information and cooperation under points 1 to 5, in particular, where appropriate, through the establishment and operation of crisis management groups.
(5) The resolution authority informs the European Banking Authority of cooperation arrangements concluded by the resolution authority or the supervisory authority.