Automatic exchange of information mandates reciprocal reporting of specified financial-account data under FATCA implementation for tax compliance. The Agreement requires each Party to obtain and automatically exchange specified information regarding Reportable Accounts maintained by Reporting Financial Institutions of the other Party-identifying data for Account Holders, account numbers, reporting FI identifiers, account balances or values, and defined categories of gross payments-subject to confidentiality protections in the Convention, phased implementation and timing conditions, and the Competent Authorities' written confirmations that appropriate safeguards and infrastructure for confidential, timely automatic exchanges are in place.