Recital 7

(7)Under Article 21 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council ³ , the European Banking Authority (EBA) is to monitor the functioning of colleges of supervisors and to foster consistency and coherence with regard to the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council ⁴ , Directive 2013/36/EU, Delegated Regulation (EU) 2016/98 and Commission Implementing Regulation (EU) 2016/99 ⁵ . The results of that monitoring showed that certain aspects of the operational arrangements of colleges of supervisors, including the regular exchange of the early warning indicators, or the cooperation with the resolution authorities or the anti-money laundering and counter-terrorism financing (AML/CFT) authorities, still require further strengthening. Therefore, it is necessary to enhance the role of colleges of supervisors as a tool for the exchange of information among their members and the cooperation and coordination with observers, including other sectoral colleges.