The European Banking Authority (EBA) has published final draft regulatory technical standards (RTS) and implementing technical standards (ITS) on passport notifications. The final draft RTS and ITS to a large extent, build on the Passporting Guidelines developed by the Committee of European Banking Supervisors, the EBA’s predecessor.
The draft final RTS specify the information that a credit institution shall provide its home Member State regulatory authority for the purpose of notifying the exercise of the right of establishment or of the freedom to provide services within the territory of another Member State. The final draft RTS also specify the information needed in relation changes in the branch notification, including termination of a branch operation.
The final draft ITS set common and harmonised templates and procedures, so as to ensure that both home and host Member State regulatory authorities receive appropriate and consistent information in order to perform their respective tasks and meet their responsibilities.
The final draft RTS and ITS have been sent to the European Commission for adoption.
View EBA publishes final draft technical standards on passport notifications, 13 December 2013