Subsection 1: Supervision on a consolidated basis by the Autorité de contrôle prudentiel et de résolution and college of supervisors

I. - In order to facilitate the supervision of groups on a consolidated basis, the Autorité de contrôle prudentiel et de résolution shall establish colleges of supervisors comprising the competent authorities of the Member States of the European Union or of other States party to the Agreement on the European Economic Area responsible for the supervision of subsidiaries or branches of significant importance, and those responsible for the supervision of the subsidiaries of a group of investment firms headed by an EU investment firm, an EU parent investment holding company or an EU parent mixed financial holding company and, where appropriate, the central banks of the European System of Central Banks and the supervisory authorities of third countries in appropriate cases, including where the central administrations of all cross-border subsidiaries of an EU parent institution, EU parent financial holding company or EU parent mixed financial holding company are located in third countries, and provided that the confidentiality requirements they apply are, in the opinion of all the competent authorities within the meaning of Article 4(1)(40) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 or Article 4(1)(7) of Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019, equivalent to the requirements laid down by decree of the Conseil d'Etat. The Autorité de contrôle prudentiel et de résolution chairs the meetings of these colleges. It shall ensure appropriate coordination with the supervisory authorities of States that are not parties to the Agreement on the European Economic Area. It decides which authorities participate in each meeting of the college. The European Banking Authority shall participate in the meetings of the college of supervisors in accordance with Article 21 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010.

II. - The constitution and functioning of the colleges shall be based on written agreements between the Autorité de contrôle prudentiel et de résolution and the competent authorities concerned. Colleges enable the Autorité de contrôle prudentiel et de résolution and the other competent authorities concerned :

- exchange information with each other and with the European Banking Authority and the European Securities and Markets Authority, including in emergency situations;

-request from the competent authority of the home Member State of a clearing member or the competent authority of the eligible central counterparty, information relating to the margin models and parameters used for the calculation of the margin requirement of investment firms;

- agree to assign tasks and delegate powers to each other, on a voluntary basis, where appropriate;

- plan and coordinate prudential supervision activities on the basis of a group risk assessment;

- coordinating the collection of information;

- apply prudential requirements consistently across all entities within the Group;

- to take account of prudential control activities defined in the event of an emergency.

III -Where the Autorité de contrôle prudentiel et de résolution is the supervisory authority on a consolidated basis of a financial holding company or a mixed financial holding company which has been granted approval in accordance with Article L. 517-12 and whose parent undertaking is established in another Member State of the European Union or in another State party to the agreement on the European Economic Area, the written agreements mentioned in II are also concluded with the competent authority responsible for the supervision of this parent undertaking.