The EBA publishes 2023 list of third country groups and third country branches operating in the EU/EEA

The European Banking Authority (EBA) published today the updated list of all third country groups (TCGs) with intermediate EU parent undertakings IPU(s), where applicable, and the list of all third country branches (TCBs) operating in the European Union and European Economic Area (EU/EEA). This publication ensures that market participants have clarity on the direct ownership of the involved institutions.

In the course of the 2023 exercise, 461 TCGs from 47 third countries have been identified as operational in the EU/EEA. Out of them, 2 have an IPU in place. Moreover, 65 TCGs have branches in the EU/EEA with a total of 105 third country branches of credit institutions operating in the EU/EEA.

Legal basis and background

• According to Article 21b of Directive 2013/36/EU (Capital Requirements Directive - CRD), third country groups (TCGs) operating through ​more than one institution in the Union and with total assets of EUR 40 billion or more are required to have an intermediate EU parent undertaking (IPU).
• The EBA has a key role to play in facilitating cooperation between National Competent Authorities and in supporting their IPU decision-making process.
• In July 2021, the EBA Guidelines (EBA/GL/2021/08) provided a common methodology for the calculation of the total value of assets in order to achieve consistent application of Union law.
• In May 2022, the EBA published the decision (EBA/DC/441) on supervisory reporting for the threshold monitoring of the intermediate EU parent undertaking to ensure a timely application of the IPU requirement.