The European Banking Authority (EBA) has published a consultation paper seeking comments on its draft guidelines on the supervision of significant branches.
The EBA has published these draft guidelines with a view to specifying how the consolidating supervisor, the home and the host Member State competent authority should, within the framework of supervisory colleges established either under Article 116 or under Article 51(3) of the Capital Requirements Directive IV, cooperate to prudentially supervise and coordinate monitoring, including the assessment of recovery planning, for certain significant branches requiring intensified supervision, also called ‘significant— plus branches’.
The draft guidelines do not interfere with the tasks and responsibilities conferred on the consolidating supervisor and the Member State home and host competent authorities by the CRD IV and Bank Recovery and Resolution Directive, and merely aim to establish a framework of effective and efficient cooperation within colleges of supervisors when exercising those tasks and discharging those responsibilities. In addition, the draft guidelines do not limit in any form the freedom of institutions to establish branches in other Member States.
Upon completion of the consultation, the draft guidelines will be finalised and translated into the official EU languages and published on the EBA’s website. The deadline for competent authorities to report whether they comply with the guidelines will be two months after the publication of the translations.
The deadline for comments on the consultation paper is 20 March 2017.
View EBA consults on supervision of significant branches guidelines, 20 December 2016