1.   The competent authority of the home Member State and the members of the college of supervisors that supervise significant branches affected or likely to be affected by the emergency situation shall monitor and exchange information on the implementation of the coordinated supervisory response referred to in Article 39.

2.   The information referred to in paragraph 1 shall include an update on the implementation of the agreed actions within the foreseen timetable, as referred to in Article 39(2), and the need to update or adjust those actions.