of Auditors shall be consulted before such requirements are issued. Chapter 5 Cooperation with other deposit guarantee schemes Section 56 Branches of domestic CRR credit institutions in another state of the European Economic Area (1) A deposit guarantee scheme shall protect the deposits of a branch of a member CRR credit institution in another state of the European Economic Area. To enable investors to be compensated by the deposit guarantee scheme of the host member state on behalf of and in accordance with the instructions of the domestic deposit guarantee scheme, the domestic deposit guarantee scheme shall provide the necessary funding for compensating depositors to the deposit guarantee scheme of the host member state prior to payout and shall compensate the latter for the costs incurred for the compensation procedure. (2) The domestic deposit guarantee scheme shall provide the deposit guarantee scheme of the host member state with the information needed to make preparations for compensating depositors and for performing stress tests. The domestic deposit guarantee scheme shall use appropriate procedures to safeguard the effective exchange of information with other deposit guarantee schemes, their member CRR credit institutions, supervisory authorities and with other agencies on a cross-border basis, where appropriate. (3) In order to facilitate effective cooperation between deposit guarantee schemes in accordance with subsections (1) and (2) above, the domestic deposit guarantee schemes shall enter into a cooperation agreement with the deposit guarantee scheme of the host member state. The domestic deposit guarantee schemes shall notify BaFin of the existence and content of the agreements. BaFin shall notify them to the European Banking Authority. Section 57 Branches of CRR credit institutions which have their registered office in another state of the European Economic Area (1) A domestic deposit guarantee scheme under this Act is resp