The competent authorities of the Member States concerned shall collaborate closely in order to supervise the activities of credit institutions operating, in particular through a branch, in one or more Member States other than that in which their head offices are situated. They shall supply one another with all information concerning the management and ownership of such credit institutions that is likely to facilitate their supervision and the examination of the conditions for their authorisation, and all information likely to facilitate the monitoring of such institutions, in particular with regard to liquidity, solvency, deposit guarantees, the limiting of large exposures, administrative and accounting procedures and internal control mechanisms.
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New version applies from 04/01/2011 — introduced by Commission Directive 2009/83/EC, Directive 2010/76/EU (CRD), Directive 2010/78/EU.
141 provisions change.
Later versions: 09/12/2011, 01/07/2013, 01/01/2014.
Article 42 changes in this version: compare with the current text.