AI Summary of Article 70 Transmission of information to central banks, monetary authorities, payment systems overseers and the European Systemic Risk Board
Without prejudice to Articles 64 to 69, a supervisory authority may transmit information necessary for the performance of its tasks to: central banks of the European System of Central Banks (ESCB), including the ECB, and other bodies with a similar function in their capacity as monetary authorities where the information is relevant to their statutory tasks (including the conduct of monetary policy and related liquidity provision, oversight of payments, clearing and securities settlement systems and safeguarding the stability of the financial system); to other national public authorities responsible for overseeing payment systems, where appropriate; and to the European Systemic Risk Board (ESRB), established by Regulation (EU) No 1092/2010, where relevant to its tasks.
In an emergency situation, Member States shall allow supervisory authorities to communicate without delay information to ESCB central banks, including the ECB, and to the ESRB where relevant to their statutory tasks. Those authorities or bodies may also communicate to supervisory authorities information required for the purposes of Article 67. Information received in this context is subject to the provisions on professional secrecy laid down in this Section.
Article 70 Transmission of information to central banks, monetary authorities, payment systems overseers and the European Systemic Risk Board
1. Without prejudice to Articles 64 to 69, a supervisory authority may transmit information intended for the performance of their tasks to the following:
(a) central banks of the European System of Central Banks (ESCB), including the ECB and other bodies with a similar function in their capacity as monetary authorities where this information is relevant to their respective statutory tasks, including the conduct of monetary policy and related liquidity provision, oversight of payments, clearing and securities settlement systems and safeguarding the stability of the financial system;
(b) where appropriate, other national public authorities responsible for overseeing payment systems; and
(c) the ESRB, established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council [Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (OJ L 331, 15.12.2010, p. 1).], where that information is relevant to carrying out its tasks.