On 28 September 2022, the European Central Bank (ECB) issued a public consultation on a draft guide which seeks to clarify how it assesses applications to acquire qualifying holdings in banks.
The ECB intends for the guide to function as a user-friendly handbook. The guide explains who is obliged to undergo qualifying holding assessments, the documentation required to apply and how the ECB assesses these transactions. It also provides information on complex acquisition structures, the application of the principle of proportionality and specific procedural elements.
The guide would complement the ECB’s guide on the supervisory approach to consolidation in the banking sector.
The deadline for comments on the draft guide is 9 November 2022.