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Recital 9

Recital 9

(9)Colleges of supervisors facilitate cooperation and coordination between competent authorities. That is in particular the case for any decisions regarding the use of internal models for the calculation of own fund requirements that require prior permission from competent authorities. It is therefore important to specify conditions under which the group supervisor and the competent authorities concerned exchange information on the performance of internal models and discuss and reach agreement on measures to address identified inefficiencies.

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