Article 116 Colleges of Supervisors
When conducting supervision on a consolidated basis, is the consolidating supervisor of an EU-headed banking group with subsidiaries only in third countries subject to the provisions of EU law, notably to the provisions of Regulation (EU) No 575/2013, Directive 2013/36/EU and the relevant delegated and implementing acts? If so, how is Article 116 of Directive 2013/36/EU to be applied in that case, in particular under the considerations that there is no need for a joint decision and that third-country supervisors are not subject to EU law? How does the situation change when the ECB is the consolidating supervisor and the banking group has subsidiaries only in participating Member States and in third countries?
Legal act: Directive 2013/36/EU (CRD) as amended
COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
Topic: Colleges of supervisors|
Date of submission: 05/11/2015