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Recital 8

Recital 8

(8)Article 11(2) of Directive 2014/59/EU obliges competent and resolution authorities to cooperate to minimise the duplication of information requirements. For that purpose, Implementing Regulation (EU) 2018/1624 introduced a cooperation procedure between competent and resolution authorities, which should be maintained so that competent and resolution authorities jointly verify whether some or all of the requested information is already available to the competent authority. Where the information is available to the competent authority, it is appropriate that it transmits it to the resolution authority directly.

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