Cooperation between the supervisory authorities

(1) The Federal Institute and the Land authorities conducting supervision are obliged to inform one another of their legal and administrative principles. This also applies to the principles that the Land authorities lay down in supervising public-law insurance undertakings, and to the drafts of statutory instruments, general rulings, and guidelines, where the interests of the other supervisory authorities may be affected.
(2) The Land supervisory authorities cooperate with the Federal Institute whenever this is necessary to perform their tasks under Directive 2014/17/EU, including for the purposes of cooperation with the European Banking Authority under this Directive.