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Text applicable on 2 Jul 2014Consolidated version of 2 Jul 2014Earlier versionUpcoming changefrom 19 Aug 2014Unofficial text · authentic on EUR-Lex (opens in a new tab)

EBAR Article 31 — as applicable on 2 Jul 2014 (version of 2 Jul 2014)

Upcoming changeThis provision is amended or removed from 1 Jan 2020.View that version

Article 31

Coordination function

Amendment details· last amended 30 Oct 2013
Versions of this provision:16 Dec 201030 Oct 20131 Jan 2020

Last amended 30 Oct 2013 by Regulation (EU) No 1022/2013 of 22 October 2013.

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The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or the stability of the financial system in the Union.

The Authority shall promote a coordinated Union response, inter alia, by:

(a)

facilitating the exchange of information between the competent authorities;

(b)

determining the scope and verifying where appropriate the reliability of information that should be made available to all the competent authorities concerned;

(c)

without prejudice to Article 19, carrying out non-binding mediation upon a request from the competent authorities or on its own initiative;

(d)

notifying the ESRB, the Council and the Commission of any potential emergency situations without delay;

(e)

taking all appropriate measures in case of developments which may jeopardise the functioning of the financial markets with a view to the coordination of actions undertaken by relevant competent authorities;

(f)

centralising information received from competent authorities in accordance with Articles 21 and 35 as the result of the regulatory reporting obligations of institutions. The Authority shall share that information with the other competent authorities concerned.