1. APPLICATION OF THE PRINCIPLE OF SUPERVISION ON A CONSOLIDATED BASIS TO CREDIT INSTITUTIONS WHOSE PARENT COMPANIES HAVE THEIR HEAD OFFICES IN NON-MEMBER COUNTRIES AND TO CREDIT INSTITUTIONS SITUATED IN NON-MEMBER COUNTRIES AND WHOSE PARENT CREDIT INSTITUTIONS HAVE A HEAD OFFICE IN THE COMMUNITY SHOULD BE THE SUBJECT OF BILATERAL AGREEMENTS, ON THE BASIS OF RECIPROCITY, BETWEEN THE COMPETENT AUTHORITIES OF THE MEMBER STATES AND THE NON-MEMBER COUNTRIES CONCERNED. SUCH AGREEMENTS SHALL SEEK TO ENSURE THAT MEMBER STATES' COMPETENT AUTHORITIES ARE ABLE TO OBTAIN THE NECESSARY INFORMATION TO ENABLE A CREDIT INSTITUTION WITHIN THE COMMUNITY, WITH PARTICIPATIONS IN CREDIT INSTITUTIONS OR FINANCIAL INSTITUTIONS OUTSIDE THE COMMUNITY, TO BE SUPERVISED ON A CONSOLIDATED BASIS AND THAT THE COMPETENT AUTHORITIES IN NON-MEMBER COUNTRIES ARE ABLE TO OBTAIN THE INFORMATION NECESSARY TO ENABLE PARENT COMPANIES HAVING HEAD OFFICES WITHIN THEIR TERRITORY WHICH HAVE PARTICIPATIONS IN CREDIT INSTITUTIONS SITUATED IN ONE OR MORE MEMBER STATES TO BE SUPERVISED.
2. THE COMMISSION AND THE ADVISORY COMMITTEE SET UP UNDER ARTICLE 11 OF DIRECTIVE 77/780/EEC SHALL BE KEPT INFORMED OF SUCH STEPS AS MAY BE TAKEN IN THIS CONTEXT, AND THE COMMISSION SHALL UNDERTAKE COORDINATION OF THE ABOVE AGREEMENTS.
FINAL PROVISIONS