Article 21b of the Capital Requirements Directive IV (CRD IV) introduced a requirement for institutions belonging to third country groups to have an intermediate EU parent undertaking (IPU) established in the EU, where the total value of assets in the EU of the third-country group is equal to or greater than EUR 40 billion.

On 28 July 2021, the European Banking Authority published its final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of an IPU as laid down in the CRD IV. The guidelines specify how third country groups should calculate and monitor the total value of their assets in the EU in order to ensure timely application of the IPU requirement. The guidelines apply from two months after all translations of the guidelines are available.