Recital 4

(4)Following the establishment of the Single Supervisory Mechanism (SSM), Council Regulation (EU) 2015/373 ⁴ amended Article 8(1)(d) and Article 8(4) of Regulation (EC) No 2533/98 allowing the transmission and use of confidential statistical information, for the performance of tasks in the field of prudential supervision given to the members of the ESCB. The processing of confidential statistical information by the members of the ESCB should be subject to appropriate protection of confidentiality, as required under Article 8(3) of Regulation (EC) No 2533/98.