Question ID:
Legal Act:
Regulation (EU) No 575/2013 (CRR)
Liquidity risk
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:
Not applicable
Disclose name of institution / entity:
Type of submitter:
Consultancy firm
Subject Matter:
Liquidity-sub group

In Article 8 (1) of Regulation (EU) No. 575/2013 (CRR), it is stated, that institutions may fulfill the liquidity requirements on a liquidity-sub-group level, if the subsidiaries are located in the Union resp. Article 8 (3) deals with liquidity sub-Groups in several member states. Is it also possible to build-up a liquidity sub-group, if one of the subsidiaries is not located in the Union, but the country is member of the EWR (esp. EFTA member like Liechtenstein, Iceland and Norway)?

Background on the question:

Currently analysing the possibilities to build-up a liquidity sub-group for an Austrian bank, which has subsidiaries in non-EU countries, but the countries are member of EFTA resp. EWR like Liechtenstein, Iceland and Norway.

Date of submission:
Published as Final Q&A:
Final Answer:

Article 8 of Regulation (EU) No. 575/2013 (CRR) allows for a creation of a single liquidity sub-group (SLSG) only among institutions authorised in the EU. As of the date of application of the CRR provisions in the European Economic Area (i.e. as of the date of entry into force of the relevant EEA Joint Committee decision and provided there are no relevant adaptations or modifications in that decision), the SLSG can include institutions authorised in any EEA State, i.e. the EU Member States plus Iceland, Liechtenstein and Norway. However, in accordance with Article 521(2)(a) of the CRR, the waiver in respect of the SLSG may only be granted from 1 January 2015.


DISCLAIMER:This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General for Internal Market and Services) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.

Final Q&A
Answer prepared by:
Answer prepared by the European Commission because it is a matter of interpretation of Union law.
Note to Q&A:

Update 26.03.2021: This Q&A has not yet been reviewed by the European Commission in the light of the changes introduced to Regulation (EU) No 575/2013 (CRR).