EBA has published a report and opinion on the application of legal provisions on cooperation and information sharing between EU and non-EU supervisory authorities under CRD4. EBA finds that whilst there are no major cooperation concerns, there should be more clarity in the equivalence assessment processes of third country supervisory and regulatory regimes, confidentiality provisions and consolidated supervision. EBA’s opinion states that its role in equivalence assessments would be clarified best via a clear legal mandate in CRD4 and the CRR. EBA also proposes to align CRD4 with the BRRD text to explicitly provide reference to the status of “observers” for third country supervisory authorities when they participate in colleges. (Source: EBA Gives Opinion on Cooperation with Third Countries)