Article 1 — Subject matter and scope

1.This Regulation establishes the framework for cooperation and for the exchange of information between the competent authorities of the home Member State and the host Member State in accordance with Title II of Directive (EU) 2015/2366 and, as far as the payment service business is conducted under the right of establishment, for the monitoring of compliance with the provisions of national law transposing Titles III and IV of that Directive.

2.This Regulation also establishes the means and details of any periodical reporting required by the competent authorities of the host Member States from payment institutions having agents or branches within their territories on the payment business activities carried out in their territories, including the frequency of such reporting, in accordance with Article 29(2), first subparagraph) of Directive (EU) 2015/2366.

3.This Regulation shall also apply mutatis mutandis to the framework for cooperation, and for the exchange of information, between the competent authorities of the home Member State and of the host Member State with regard to the exercise of the right of establishment or of the freedom to provide services by electronic money institutions in accordance with Article 111 of Directive (EU) 2015/2366, including the means and details of any periodical reporting required by the competent authorities of the host Member States from electronic money institutions having agents, branches or distributors within their territories on the payment business activities and electronic money activities carried out in their territories, including the frequency of such reporting, in accordance with the first subparagraph of Article 29(2) of Directive (EU) 2015/2366.