Memoranda of understanding between supervisory authorities play a major role in international cooperation.

Memoranda of understanding are not legally binding. Their main use is to enhance cooperation and the exchange of information in the supervision of cross-border financial market institutions. They also ensure that confidentiality of information is maintained in the case of cooperation with non-EU supervisors and serve as an important instrument for strengthening cooperation with sister supervisors.

In accordance with Article 2(3) of Act No 6/1993 Coll., on the Czech National Bank, as amended, the Czech National Bank cooperates with central banks of other countries, with financial market supervisory authorities of other countries, and with international financial organisations and international organisations engaged in the bank, electronic money institution and financial market supervision.

• Bilateral memoranda of understanding
• Multilateral memoranda of understanding
• Multilateral cooperation and coordination agreements on the supervision of cross-border financial groups

Bilateral memoranda of understanding

Multilateral memoranda of understanding

Multilateral cooperation and coordination agreements on the supervision of cross-border financial groups

In 2009, authorities responsible for supervision of cross-border banking groups within the EU started to establish colleges of supervisors in order to enhance cooperation and coordination and the exchange of information.

In the field of banking supervision the CNB has became a signatory of seven multilateral cooperation and coordination agreements on the supervision of cross-border banking groups.