The European Banking Authority (EBA) has published final draft implementing technical standards (ITS) on common procedures, forms and templates for the consultation process between Member State national competent authorities (NCAs) for proposed acquisitions of qualifying holdings in credit institutions.
The ITS have been developed according to the CRD IV. In particular Article 22(9) of the CRD IV sets out a specific mandate for the EBA to develop draft ITS to establish common procedures, forms and templates for the consultation process between NCAs as referred to in Article 24 of the CRD IV.
The final draft ITS:
- set out requirements for the designation of contact points by NCAs, as well as a timeframe and process for submitting the consultation notice and for providing the response;
- provide templates for the consultation notice and for the response from the requested authority; and
- contain requirements in respect of the language and means of communication, as well as the provision of mutual feedback.
The final draft ITS will be submitted to the European Commission for adoption before being published in the Official Journal of the EU.