(1)

In accordance with Title II of Directive (EU) 2015/2366, the framework for cooperation and for the exchange of information between competent authorities of the home and the host Member States is to enhance cooperation between competent authorities and ensure consistent and efficient supervision of payment institutions providing payment services in other Member States by specifying the method, means and details of cooperation, including the scope and treatment of information to be exchanged.

(2)

In order to facilitate communication and exchange of information with competent authorities in other Member States, competent authorities should designate single points of contact. They should notify those contact points to the European Banking Authority (EBA) and to competent authorities in other Member States so that those authorities in other Member States know to whom they should address their requests and notifications. Competent authorities should also indicate the languages in which they can receive correspondence from competent authorities in other Member States.

(3)

Standardised forms should be introduced and made available to competent authorities to facilitate their communication when requesting and notifying information from and to each other, in order to ensure consistent and efficient cooperation. Those standard forms should be flexible enough to allow competent authorities to introduce the relevant explanations and information, upon request, and on their own initiative, information that they consider to be essential. It is desirable to introduce deadlines to avoid undue delays regarding the request, exchange and notification of information among competent authorities.

(4)

Where the competent authorities of the host Member States require payment institutions located in their territory to report to them periodically on the activities carried out, they should indicate to those payment institutions, the registered office or head office of which is situated in another Member State the language in which and the electronic means, where available, by which they may submit the reports. Furthermore, to enable EBA to fulfil its mandate to contribute to supervisory cooperation and convergence as envisaged in Regulation (EU) No 1093/2010 of the European Parliament and of the Council (2) and for the purposes of applying Directive (EU) 2015/2366 consistently, host competent authorities should inform EBA about their decision to require payment institutions having branches or agents within their territories to report to them periodically.

(5)

The content and the format of the reports to be submitted to host competent authorities by payment institutions having branches or agents within their territories should ensure the comparability of the data reported and, to the extent possible, the predictability of the data.

(6)

In order to enhance cooperation, where the competent authority of the home Member State intends to carry out an on-site inspection of an agent or a branch of a payment institution located in the territory of another Member State, a specific procedure should be set out. The competent authority of the host Member State may also be able to ask the competent authority of the home Member State to carry out an on-site inspection at the head office of a payment institution situated in the home Member State. Competent authorities of the home and the host Member States should engage in ongoing dialogue to coordinate the various stages of any on-site inspection.

(7)

In accordance with Article 6(1)(a) of Directive 2009/110/EC of the European Parliament and of the Council (3), electronic money institutions, in addition to issuing electronic money, are entitled to engage in the provision of payment services. Further, in accordance with Article 3(1) of that Directive, the procedures for supervision of payment institutions exercising the right of establishment and freedom to provide services, including any periodical reporting required from payment institutions, apply mutatis mutandis to electronic money institutions. Article 3(4) of Directive 2009/110/EC also establishes that the provisions for supervision of payment institutions exercising the right of establishment and freedom to provide services apply mutatis mutandis to electronic money institutions distributing electronic money in another Member State through natural or legal persons that act on their behalf, with the exception of the appointment of central contact points in accordance with Article 29(4) of Directive (EU) 2015/2366. Article 3(5) of Directive 2009/110/EC provides that electronic money institutions may not issue electronic money through agents, while they are allowed to provide payment services through agents subject to the conditions laid down in Article 19 of Directive (EU) 2015/2366. Cross-border cooperation among competent authorities in relation to electronic money institutions having branches, agents or distributors within the territory of a host Member State should be facilitated with regard to the content and the format of the reports to be submitted. Nevertheless, information for monitoring compliance with the provisions of national law transposing Titles III and IV of Directive (EU) 2015/2366 should be submitted only by electronic money institutions providing payment services via branches or agents that are establishments in the host Member States.

(8)

This Regulation is based on the draft regulatory technical standards submitted by EBA to the Commission.

(9)

EBA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010,