Status of these guidelines

This document contains guidelines issued pursuant to Article 16 of Regulation (EU) No 1093/2010¹ . In accordance with Article 16(3) of Regulation (EU) No 1093/2010, compe-tent authorities and financial institutions must make every effort to comply with the guidelines.

¹ Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Com-mission Decision 2009/78/EC, (OJ L 331, 15.12.2010, p.12)

Guidelines set the EBA view of appropriate supervisory practices within the European System of Financial Supervision or of how Union law should be applied in a particular area. Competent authorities as defined in Article 4(2) of Regulation (EU) No 1093/2010 to whom guidelines apply should comply by incorporating them into their practices as appropriate (e.g. by amending their legal framework or their supervisory processes), in-cluding where guidelines are directed primarily at institutions.