Recital 4

(4)Colleges of supervisors are a key tool for exchanging information, for preparing for and dealing with emergency situations, and for enabling the group supervisor to conduct effective supervision on a consolidated basis. To ensure consistency and to enable the European Banking Authority (EBA) to perform its tasks in accordance with Regulation (EU) No 1093/2010 of the European Parliament and of the Council ² , the EBA should participate in all colleges of supervisors. Furthermore, given the coordinating role of the colleges of supervisors for all supervisory activities regarding the investment firm groups that stem from other Union legislation, the European Securities and Markets Authority (ESMA) should always be invited to participate in the meetings and activities of the college of supervisors, in accordance with the written arrangements.