Competent authorities supervising third‑country branches and subsidiary institutions of the same third‑country group must cooperate closely and share information, and must have written coordination and cooperation arrangements in place in accordance with Article 115. Class 1 third‑country branches are subject to comprehensive supervision by a college of supervisors under Article 116: such branches are included where a college exists for subsidiary institutions; a college must be established where class 1 branches are in more than one Member State but no Union subsidiaries are subject to Article 116; and a college must likewise be established where class 1 branches and one or more subsidiary institutions not subject to Article 116 are present. For the purposes of those provisions Member States shall ensure a lead competent authority performs the role of consolidating supervisor, being the authority of the Member State with the largest third‑country branch by total booked assets.

In addition to Article 116 tasks, the college shall prepare and annually update a report on the third‑country group’s structure and activities in the Union, exchange information on the supervisory review and evaluation process under Article 48n, and endeavour to align application of the supervisory measures and powers in Article 48o. The college shall ensure appropriate coordination with relevant third‑country supervisory authorities. The European Banking Authority (EBA) shall promote and monitor efficient, effective and consistent functioning of these colleges under Article 21 of Regulation (EU) No 1093/2010 and shall develop draft regulatory technical standards specifying mechanisms of cooperation and model arrangements for paragraph 1 and conditions for college functioning for paragraphs 2–6, submitting those drafts to the Commission by 10 January 2026; the Commission is delegated power to adopt those standards in accordance with Articles 10–14 of Regulation (EU) No 1093/2010.