Commission Implementing Regulation (EU) 2016/99Show full title

SECTION 3 Planning and coordination of supervisory activities in preparation for and during emergency situations and final provisions

Article 21 Establishment and update of the college framework for emergency situations

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.

Article 22 Exchange of information during an emergency situation

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.

Article 23 Coordination of the supervisory assessment of an emergency situation

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.

Article 24 Coordination and monitoring of the supervisory response to an 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.

Article 25 Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.