Recital 4

(4)There are also circumstances under which the ECB transmits supervisory information to authorities and bodies pursuant to an obligation under Union law. For example, under Article 80 of Regulation (EU) No 575/2013 of the European Parliament and of the Council ² , competent authorities are obliged, upon request by the European Banking Authority (EBA), to forward to the EBA all information deemed relevant concerning new capital instruments issued in order to enable it to monitor the quality of own funds instruments issued by institutions across the Union.