Scope and level of application

These Guidelines are addressed to competent authorities to establish consistent, efficient and effective supervisory practices within the European System of Financial Supervision, and to ensure the common, uniform and consistent application of the third subparagraph of Article 32(4), letter (d) of Directive 2014/59/EU.

These Guidelines do not affect nor prejudice in any way the competent authorities’ obligation to verify on a continuous basis whether an institution is deemed failing or likely to fail pursuant to the remaining paragraphs of Article 32(4) of Directive 2014/59/EU.