Financial conglomerates

The EBA cooperates regularly and closely with the other two European Supervisory Authorities (ESAs), EIOPA and ESMA, through the ESAs' Joint Committee. The aim of this cooperation is to ensure cross-sectoral consistency of work and to reach joint positions in the area of supervision of financial conglomerates, under the Financial Conglomerates Directive (FICOD, 2002/87/EC). In this respect, the ESAs tasks include, in particular, contribution to the European Commission's fundamental review of FICOD, development of joint draft Technical Standards as set out in FICOD and development of Guidelines, and annual updating and publishing of the list of identified financial conglomerates. Further tasks include exchanging supervisory information, assisting in the identification and measurement of systemic risk of financial conglomerates and assessing its cross sector implications, providing regulatory and supervisory input to supervisory measures under FICOD, and fulfilling any other specific tasks set out and agreed by the ESAs' governing bodies, and delegated by the Joint Committee. 

Opinions, Reports and other Publications