This Regulation determines the operational functioning of the college of supervisors (‘college’) formed in accordance with Article 116 and Article 51(3) of Directive 2013/36/EU.
1.The consolidating supervisor shall submit the draft mapping, prepared in accordance with Article 2 of Commission Delegated Regulation (EU) 2016/98(1), to the authorities eligible for becoming members of the college pursuant to Article 3(1) of Delegated Regulation (EU) 2016/98 (hereinafter ‘potential members of the college’), inviting them to provide their views and indicating the appropriate deadline for the submission of these views.
2.For the purposes of finalising the mapping and without prejudice to the application of Article 51 of Directive 2013/36/EU, the consolidating supervisor shall consider any views and reservations expressed by the potential members of the college.
3.Upon finalisation, the consolidating supervisor shall communicate the mapping of the group to all potential members of the college.
4.The consolidating supervisor shall update the mapping, applying the process defined in paragraphs 1 to 3, at least on an annual basis or more frequently in case there are significant changes in the structure of the group.
5.The consolidating supervisor shall use the template in Annex I for the establishment and update of the mapping of a group of institutions.
1.To establish a college, the consolidating supervisor shall perform the following steps:
(a)the consolidating supervisor shall send the invitations to the authorities referred to in Article 3(1) of Delegated Regulation (EU) 2016/98;
(b)the consolidating supervisor shall notify to the members of the college who have accepted the invitation as referred to in paragraph 3 of this Article its intention to send an invitation to the competent authorities of non-significant branch to participate as observers in the college in accordance with Article 3(2) of Delegated Regulation (EU) 2016/98;
(c)the consolidating supervisor shall notify to the members of the college who have accepted the invitation as referred to in paragraph 3 of this Article its intention to send an invitation to a third country supervisor authority to participate as an observer in the college in accordance with Article 3(3) of Delegated Regulation (EU) 2016/98;
(d)the consolidating supervisor shall notify to the members of the college who have accepted the invitation as referred to in paragraph 3 of this Article its intention to send an invitation to any authority referred to in Article 3(4) of Delegated Regulation (EU) 2016/98 to participate as an observer in the college.
For the purposes of points (b), (c) and (d) of the first subparagraph, the notification shall be accompanied by the proposal of the consolidating supervisor on the terms of the observer participation in the college to be included in the written coordination and cooperation arrangements in accordance with Article 5(c) of Delegated Regulation (EU) 2016/98.
In addition, for the purposes of point (c) of the first subparagraph, the notification shall be accompanied by the opinion of the consolidating supervisor on the assessment of the equivalence of the confidentiality and professional secrecy requirements applicable to the third country supervisory authority.
The notification referred to in the second subparagraph shall set an adequate deadline within which any disagreeing college member may express in writing its fully reasoned objection to any aspect of the proposal or opinion of the consolidating supervisor.
2.Upon agreement of all college members on the proposal, which shall be inferred by the consolidating supervisor if no objection has been expressed within the deadline, the consolidating supervisor shall send the invitation to the authority referred to in point (b), (c) or (d) of paragraph 1 to become an observer of the college. The invitation shall be accompanied by the terms of the observer participation as agreed by the members of the college and included in the written coordination and cooperation arrangements.
3.Authorities receiving an invitation to become members or observers shall acquire this status upon acceptance of the invitation. The authorities receiving an invitation to become observers shall also accept the terms of observer participation as notified to them by the consolidating supervisor.
4.Authorities referred to in points (b), (c) and (d) of paragraph 1 may request to become observers of a college. The relevant request shall be addressed to the consolidating supervisor. Where the consolidating supervisor decides to invite these authorities to participate in the college as observers, it shall apply the processes referred to in points (b), (c) and (d) of paragraph 1, as applicable.
1.The consolidating supervisor shall maintain and share full contact details, including out-of-hours contact details to be used during emergency situations in its communication with members and observers of the college using the template in Annex II. The contact list and emergency contact list shall be annexed to the written coordination and cooperation arrangements referred to in Article 5 of Delegated Regulation (EU) 2016/98.
2.The members of the college shall provide their contact details to the consolidating supervisor and shall inform the consolidating supervisor of any changes in those details without undue delay.
3.Any updated version of the contact list and emergency contact list shall be communicated by the consolidating supervisor to the members of the college.
1.The consolidating supervisor shall prepare its proposal for the conclusion of written coordination and cooperation arrangements in accordance with Article 115 of Directive 2013/36/EU and Article 5 of Delegated Regulation (EU) 2016/98.
2.The consolidating supervisor shall communicate its proposal to the members of the college inviting them to provide their views and indicating the appropriate deadline for the submission of these views.
3.For the purposes of finalising the written coordination and cooperation arrangements, the consolidating supervisor shall take into account any views and reservations expressed by the members of the college and explain, if necessary, the reason for not incorporating them.
4.Upon finalisation, the consolidating supervisor shall communicate the written coordination and cooperation arrangements to the members of the college.
5.If deemed necessary by the consolidating supervisor and members of the college, the implementation of the written coordination and cooperation arrangements shall be tested by means of simulation exercises or in any other way, as appropriate.
6.The consolidating supervisor and the members of the college shall consider the need to amend the written coordination and cooperation arrangements in case of changes in any of its elements pursuant to Article 5 of Delegated Regulation (EU) 2016/98.
The written coordination and cooperation arrangements shall be amended to reflect any changes in the membership of the college.
Elements of the written coordination and cooperation arrangements referring to the college framework in preparation for and during emergency situations shall be reviewed by the consolidating supervisor and the members of the college on a periodical basis to be determined in these arrangements.
7.The consolidating supervisor and the members of the college shall amend the written coordination and cooperation arrangements by following the process described in paragraphs 1 to 4.
8.The consolidating supervisor shall use the template in Annex II to conclude and amend the written coordination and cooperation arrangements.
1.Colleges shall convene at least one physical meeting per year. However, the consolidating supervisor with the consent of all members of the college, having taken into account the specificities of the group, may determine a different frequency of physical meetings.
2.The consolidating supervisor shall clearly establish the objectives of the college meetings. The consolidating supervisor shall ensure that those objectives are reflected in the agenda of the meetings and shall invite all members of the college to propose additional agenda items. The consolidating supervisor shall take into account any proposals on agenda items made by the members of the college and shall explain, if requested, the reason for not incorporating them.
3.The consolidating supervisor and the members of the college who are involved in a particular activity or meeting of the college, shall exchange documents and contributions to working documents well in advance to enable all participants in the college meeting to actively contribute to the discussions.
1.When received from a member of the college, the consolidating supervisor shall transmit the information referred to in Article 9(3) of Delegated Regulation (EU) 2016/98:
(a)to the other members of the college;
(b)to the observers as the consolidating supervisor deems appropriate and in accordance with the terms of their participation in the college.
2.If the consolidating supervisor deems that any information referred to in paragraph 1 is not relevant for a particular member of the college, it shall previously consult that member and provide it with key points of the information to enable that member to determine its actual relevance.
3.When the college is organised in different substructures, the consolidated supervisor shall keep all college members fully informed, in a timely manner, on the actions taken or the measures carried out in different college substructures.
4.The consolidating supervisor and the members of the college shall agree on the means for the exchange of information and shall specify this agreement in the written coordination and cooperation arrangements referred to in Article 5 of Delegated Regulation (EU) 2016/98.
1.Where the requirements for applying an internal approach in accordance with Article 143(1), Article 151(4) or (9), Article 283, Article 312(2), or Article 363 of Regulation (EU) No 575/2013 are no longer met by any of the institutions authorised in a Member State, including the EU parent institution, or where weaknesses have been identified in accordance with Article 101 of Directive 2013/36/EU by any relevant member of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98, the consolidating supervisor and that member of the college shall work together, in full consultation, to jointly agree on the revocation of the permission to use the approach, on the imposition of capital add-ons or on the restriction of the use of the internal model as referred to in Article 11(2)(c) and (d) of that Delegated Regulation.
2.The decision on the revocation of an approved model shall be jointly taken by the consolidating supervisor and the relevant members of the college supervising entities using the approved model and affected by the inefficiencies identified under paragraph 1. The cooperation between the consolidating supervisor and those members of the college shall follow the process set by the provisions of the Commission Implementing Regulation (EU) 2016/100(2).
3.The decision resulting in the imposition of capital add-ons shall be taken through the capital joint decision process in accordance with Article 113(1)(a) of Directive 2013/36/EU.
4.The consolidating supervisor shall inform all other members of the college on the decisions taken pursuant to paragraph 1, where it considers that such information is likely to affect other activities of the college or is essential for the exercise of the tasks of other members of the college.
1.For non-material model extensions or changes that affect any of the institutions authorised in a Member State, including the EU parent undertaking, the consolidating supervisor shall inform all relevant members of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98 of those extensions or changes without delay.
2.A relevant member of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98 shall inform the consolidating supervisor of any non-material extensions or changes that affect any of the institutions under the supervisory remit of that relevant member of the college.
3.Where a relevant member of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98 has concerns regarding the classification of an extension or change as non-material, it shall communicate those concerns to the consolidating supervisor who shall disseminate this information to the other relevant members of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98.
Where the consolidating supervisor has concerns regarding the classification of an extension or change as non-material, it shall communicate those concerns to all relevant members of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98.
The consolidating supervisor and the relevant members of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98 shall discuss the details of those concerns for the purposes of reaching a common view on the materiality of the extension or change.
4.Where the consolidating supervisor and the relevant members of the college within the meaning of Article 11(1) of Delegated Regulation (EU) 2016/98 consider that extensions or changes to an internal model have incorrectly been classified by the institution concerned as non-material, they shall inform that institution without delay.
1.The consolidating supervisor and the members of the college participating in the development of a group risk assessment report referred to in Article 113(2)(a) of Directive 2013/36/EU or a group liquidity risk assessment report referred to in Article 113(2)(b) of that Directive for the purposes of reaching joint decisions on institution-specific prudential requirements in accordance with that Article shall agree on indicators for identifying the early warning signs, potential risks and vulnerabilities referred to in Article 12 of Delegated Regulation (EU) 2016/98.
These indicators shall be computed based on the information that competent authorities collect from supervised institutions in accordance with Implementing Regulation (EU) No 680/2014.
The agreed indicators shall be set out in the written coordination and cooperation arrangements in accordance with Article 5(l) of Delegated Regulation (EU) 2016/98.
2.Each member of the college referred to in paragraph 1 shall communicate to the consolidating supervisor the values of the agreed indicators for the institutions under its supervisory remit, as relevant.
3.The consolidating supervisor shall disseminate the values referred to in paragraph 2 and the values of the agreed indicators for the EU parent undertaking and at consolidated level, to each member of the college referred to in paragraph 1.
4.The consolidating supervisor and the members of the college referred to in paragraph 1 shall exchange the values of the agreed indicators at least on an annual basis, or more frequently if agreed by these competent authorities.
1.Once the joint decisions on institution-specific prudential requirements in accordance with Article 113 of Directive 2013/36/EU have been reached, the members of the college shall provide their contribution to the consolidating supervisor for the purposes of establishing a college supervisory examination programme referred to in Article 116(1)(c) of Directive 2013/36/EU in accordance with Article 16 of Delegated Regulation (EU) 2016/98.
2.After receiving the contributions from the members of the college, the consolidating supervisor shall prepare a draft college supervisory examination programme.
3.The consolidating supervisor shall circulate the draft college supervisory examination programme to the members of the college inviting them to provide their views on the areas of joint work and indicating the appropriate deadline for the submission of these views.
4.For the purposes of completing the college supervisory examination programme, the consolidating supervisor shall take into account any views and reservations expressed by the members of the college and explain, if necessary, the reason for not incorporating them.
5.Upon completion, the consolidating supervisor shall communicate the college supervisory examination programme to the members of the college.
6.The college supervisory examination programme shall be updated at least annually, or more frequently if deemed necessary as a result of the supervisory review and evaluation process pursuant to Article 97 of Directive 2013/36/EU, or as a result of joint decisions on institution-specific prudential requirements in accordance to Article 113 of that Directive.
7.The consolidating supervisor shall update the college supervisory examination programme by following the process defined in paragraphs 1 to 5.
1.The consolidating supervisor shall prepare its proposal for establishing a college framework for emergency situations in accordance with Article 17 of Delegated Regulation (EU) 2016/98.
2.The consolidating supervisor shall submit its proposal to the members of the college, inviting them to provide their views and indicating the appropriate deadline for the submission of those views.
3.The consolidating supervisor shall take into account any views and reservations expressed by the members of the college, and explain, if necessary, the reasons for not incorporating them.
4.The consolidating supervisor shall communicate the final version of the college framework for emergency situations to the members of the college.
5.The consolidating supervisor and the members of the college shall consider, at least on an annual basis, the need to update the college framework for emergency situations.
6.The consolidating supervisor and the members of the college shall update the college framework for emergency situations by following the process set out in paragraphs 1 to 4.
1.Where the consolidating supervisor becomes aware of an emergency situation which affects or is likely to affect an institution or a branch of the group respectively authorised or established in a Member State, the consolidating supervisor shall alert EBA and the member of the college who supervises the institution or the branch affected or likely to be affected by the emergency situation, without undue delay.
2.Where a member of the college becomes aware of an emergency situation which affects or is likely to affect an institution or a branch of the group respectively authorised or established in a Member State, the member of the college shall alert the consolidating supervisor without undue delay.
3.The consolidating supervisor shall ensure that all other members of the college are adequately informed about the main elements of the following:
(a)the coordinated supervisory assessment of the emergency situation as referred to in Article 14;
(b)the coordinated supervisory response as referred to in Article 15, including the actions taken or planned to be taken, and its monitoring as referred to in Article 16;
(c)the early intervention measures adopted pursuant to Articles 27, 28 and 29 of Directive 2014/59/EU of the European Parliament and of the Council(3), as relevant, taking into account the necessity for the coordination of these measures in accordance with Article 30 of that Directive, or the determination of the conditions for resolution pursuant to Article 32 of that Directive.
4.Where the coordinated supervisory response to an emergency situation as referred to in Article 15 is likely to be more efficient by involving the group-level resolution authority, resolution authorities of subsidiaries or resolution authorities of jurisdictions in which significant branches are located, central banks, competent ministries and deposit guarantee schemes, the consolidating supervisor shall consider the involvement of those authorities.
5.Where an emergency situation is restricted to a specific group entity, the situation shall be managed by the member of the college responsible for the supervision of that group entity concerned in liaison with the consolidating supervisor.
1.For the purposes of Article 19 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall coordinate the development of a draft coordinated supervisory assessment of the emergency situation, based on its own assessment and the assessment of the members of the college who supervise group entities that are affected or likely to be affected by the emergency situation.
2.The draft coordinated supervisory assessment of the emergency situation shall cover the affected or likely to be affected group entities. The views and assessments of the members of the college responsible for the supervision of those group entities shall be adequately taken into account by the consolidating supervisor.
3.Where the emergency situation is restricted to a specific group entity, the member of the college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the supervisory assessment of the emergency situation.
1.For the purposes of Article 20 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall lead the development of a coordinated supervisory response to the emergency situation with regard to the group and its affected or likely to be affected group entities. The views and assessments of the members of the college responsible for the supervision of these group entities shall be adequately taken into account by the consolidating supervisor.
2.Where the emergency situation is restricted to a specific group entity, the member of the college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the development of the coordinated supervisory response to the emergency situation.
3.The consolidating supervisor and the members of the college shall perform the tasks referred to in paragraphs 1 and 2 without undue delay.
4.The development of the coordinated supervisory assessment of an emergency situation as referred to in Article 14 and the development of the coordinated supervisory response to this emergency situation may be run in parallel.
1.For the purposes of Article 21 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall coordinate the monitoring of the implementation of the agreed actions set out in the coordinated supervisory response referred to in Article 15.
2.The members of the college responsible for the supervision of the group entities affected or likely to be affected by the emergency situation shall inform the consolidating supervisor of the evolution of the emergency situation and the implementation of the agreed actions related to their respective group entities, as relevant.
3.Any updates on the monitoring of the coordinated supervisory response shall be provided by the consolidating supervisor to the members of the college, including EBA, and shall cover the group and the affected or likely to be affected group entities.
4.The consolidating supervisor and the members of the college responsible for the supervision of the group entities affected or likely to be affected by the emergency situation shall consider the need to update the coordinated supervisory response taking into account the information provided to each other while monitoring its implementation.
5.The requirements set out in paragraphs 1 to 4 shall apply without undue delay.
For colleges formed in accordance with Article 51(3) of Directive 2013/36/EU, the competent authorities of the home Member State shall establish and update the mapping of an institution, establish a college, establish and update contact lists, and conclude and amend written coordination and cooperation arrangements in accordance with Articles 2 to 5 to the extent appropriate.
1.The competent authorities of the home Member State shall establish regular cooperation with college members that can take the form of meetings or other activities.
2.The organisation of college meetings and activities, and their objectives shall be communicated by the competent authorities of the home Member State to the members of the college, including EBA.
3.The competent authorities of the home Member State shall clearly establish the objectives of the college meetings. The competent authorities of the home Member State shall ensure that those objectives are reflected in the agenda items of the meetings and shall invite all members of the college to propose additional agenda items. The competent authorities of the home Member State shall take into account any proposals on agenda items made by the members of the college and shall explain, if requested, the reason for not incorporating them.
4.The competent authorities of the home Member State and the members of the college, who are involved in a particular activity or meeting of the college, shall circulate documents and contributions to working documents well in advance to enable all participants in the college to actively contribute to the discussions.
1.For the purpose of Article 28(3) of Delegated Regulation (EU) 2016/98, the members of the college shall transmit the information to the competent authorities of the home Member State.
2.The competent authorities of the home Member State shall transmit the information referred to in paragraph 1:
(a)to the members of the college;
(b)to the observers as the competent authorities of the home Member State deem appropriate and in accordance with the terms of their participation in the college.
3.If the competent authorities of the home Member State deem that any information referred to in paragraph 1 is not relevant for a particular member of the college, it shall previously consult that member and provide it with key points of the information to enable that member to determine its actual relevance.
4.When the college is organised in different substructures, the competent authorities of the home Member State shall keep all college members fully informed, in a timely manner, on the actions taken or the measures carried out in different college substructures.
5.The competent authorities of the home Member State and the members of the college shall agree on the means for the exchange of information and shall specify this agreement in the written coordination and cooperation arrangements referred to in Article 5 of Delegated Regulation (EU) 2016/98.
1.For the purposes of establishing a college supervisory examination programme referred to in Article 99 of Directive 2013/36/EU in accordance with Article 31 of Delegated Regulation (EU) 2016/98, the members of the college shall provide their contribution to the competent authorities of the home Member State.
2.After receiving the contributions from the members of the college, the competent authorities of the home Member State shall prepare a draft college supervisory examination programme.
3.The competent authorities of the home Member State shall circulate the draft college supervisory examination programme to the members of the college inviting them to provide their views on the areas of joint work and indicating the appropriate deadline for the submission of those views.
4.For the purposes of completing the college supervisory examination programme, the competent authorities of the home Member State shall take into account any views and reservations expressed by the members of the college and explain, if necessary, the reasons for not incorporating them.
5.Upon completion, the competent authorities of the home Member State shall communicate the college supervisory examination programme to the members of the college.
6.The college supervisory examination programme shall be updated at least annually or more frequently if deemed necessary as a result of the supervisory review and evaluation process pursuant to Article 97 of Directive 2013/36/EU.
7.The competent authorities of the home Member State shall update the college supervisory examination programme by following the process defined in paragraphs 1 to 5.
1.For the purposes of establishing the college framework for emergency situations, the competent authorities of the home Member State shall prepare a proposal pursuant to Article 32 of Delegated Regulation (EU) 2016/98.
2.The competent authorities of the home Member State shall submit its proposal to the members of the college, inviting them to provide their views and indicating the appropriate deadline for the submission of those views.
3.The competent authorities of the home Member State shall take into account any views and reservations expressed by the members of the college, and explain, if necessary, the reasons for not incorporating them.
4.The competent authorities of the home Member State shall communicate the final version of the college framework for emergency situations to the members of the college.
5.The competent authorities of the home Member State and the members of the college shall consider, at least on an annual basis, the need to update the college framework for emergency situations.
6.The competent authorities of the home Member State and the members of the college shall update the college framework for emergency situations by following the process set out in paragraphs 1 to 4.
1.Where the competent authorities of the home Member State become aware of an emergency situation which affects or is likely to affect the institution, they shall alert EBA and the members of the college without undue delay.
2.Where a member of the college becomes aware of an emergency situation which affects or is likely to affect a branch in its jurisdiction, it shall alert the competent authorities of the home Member State without undue delay.
For the purposes of Article 34 of Delegated Regulation (EU) 2016/98, the competent authorities of the home Member State shall circulate the supervisory assessment of the emergency situation to the members of the college who supervise branches affected or likely to be affected by the emergency situation.
1.For the purposes of Article 35 of Delegated Regulation (EU) 2016/98, the competent authorities of the home Member State shall develop a coordinated supervisory response to an emergency situation. The views of the members of the college who supervise branches affected or likely to be affected by this emergency situation shall be adequately taken into account by the competent authorities of the home Member State.
2.The competent authorities of the home Member State shall, where relevant, coordinate the monitoring of the implementation of any actions set out in the supervisory response.
3.The members of the college shall inform the competent authorities of the home Member State about the evolution of the emergency situation and the implementation of any agreed actions related to the branches in their jurisdiction.
4.Any updates on the monitoring of the supervisory response shall be provided by the competent authorities of the home Member State to the members of the college, including EBA.
5.The development of the supervisory assessment of an emergency situation as referred to in Article 23 and the development of the supervisory response to this situation may be run in parallel.
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 16 October 2015.
For the Commission
The President
Jean-Claude Juncker