CHAPTER 2

CONDITIONS REGARDING THE FUNCTIONING OF COLLEGES FORMED IN ACCORDANCE WITH ARTICLE 116 OF DIRECTIVE 2013/36/EU
SECTION 3

Planning and coordination of supervisory activities in preparation for and during emergency situations

Coordination of external communication in an emergency situation
Article 22
1
Within the framework of applicable Union and national law, the consolidating supervisor and the members of the college who supervise group entities that are affected or likely to be affected by the emergency situation shall coordinate to the extent possible their external communications.
2
For the purpose of coordinating external communication, the consolidating supervisor and the members of the college shall agree on the following elements:
a
the allocation of responsibilities for coordinating external communication at the different stages of the emergency situation;
b
the level of information to be disclosed taking into account the need to maintain market confidence and any other additional disclosure obligations where financial instruments issued by group entities affected or likely to be affected by the emergency situation are publicly traded in one or more regulated markets in the Union;
c
the coordination of public statements, including those made by only one member of the college, in particular where these are likely to have consequences for group entities supervised by other members of the college;
d
the allocation of responsibilities and appropriate timing for contacting group entities;
e
the allocation of responsibilities and actions to be taken for communicating externally the coordinated actions taken to address the emergency situation;
f
a description of possible coordination with another group or college that may be involved in dealing with an emergency situation affecting the group, such as a crisis management group or a resolution college.