Article 38 › 3

The recommendation referred to in paragraph 2 shall be issued where all of the following conditions are met: (a) on the basis of the information available in the context of its supervisory activities, a financial supervisor, including AMLA when performing its supervisory activities, deems that a third-country respondent institution falls into any of the situations listed in paragraph 2 and may affect the risk exposure of the correspondent relationship; (b) following an assessment of the information available to the financial supervisor referred to in point (a) of this paragraph, there is an agreement among financial supervisors in the Union that the third-country respondent institution falls into any of the situations listed in paragraph 2 and may affect the risk exposure of the correspondent relationship.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04