Recital 1

(1)Directive 2013/36/EU lays down rules concerning supervisory powers and tools for the prudential supervision of credit institutions by competent authorities. Colleges of supervisors are the vehicles through which supervisory activities are coordinated. Pursuant to Article 116 of Directive 2013/36/EU, the consolidating supervisors are to establish colleges of supervisors to facilitate certain supervisory tasks and to ensure appropriate coordination and cooperation with relevant third-country supervisory authorities. In addition, the competent authorities supervising an institution with significant branches in other Member States are, pursuant to Article 51(3) of Directive 2013/36/EU, required to establish and chair colleges of supervisors where Article 116 of that Directive is not applicable.