+Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates (JC/GL/2014/01)
---+3. Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates
------+Status of these Guidelines
------+Reporting Requirements
------+Title I - Subject matter and scope
---------+1. These guidelines fulfil the requirement set out in Article 11(1) of Directive 2002/87/EC (FICOD) …
---------+2. The guidelines aim to clarify and enhance cooperation between competent authorities on a …
---------+3. Article 11(1) of Directive 2002/87/EC sets out the tasks of the competent authority responsible …
---------+4. The guidelines are addressed to competent authorities as defined in Article 2(16) of Directive …
---------+5. Unless otherwise stated, references in these guidelines concern the relevant provision of …
------+Title II- Mapping procedure, cooperation structure and coordination arrangements
---------+6. Mapping is a process of collecting and analysing the information needed to identify those …
------+Mapping procedure
---------+7. The coordinator should carry out a mapping process in cooperation with the other competent …
---------+8. The mapping process should be performed taking due consideration of the identification process …
---------+9. The mapping process should involve collecting and analysing information needed to identify the …
---------+10. The coordinator should ensure the performance of the mapping process on the basis of the …
---------+11. The mapping process should: a) take into account the outcome of the mapping processes carried …
---------+12. To prepare the draft mapping and transmit it to the relevant competent authorities for their …
---------+13. The mapping should be updated regularly, at least annually, taking into account changes in the …
---------+14. The mapping should take into account all the entities relevant for supervision within the …
---------+15. For the entities relevant for supervision mentioned in paragraph 14, the mapping should …
---------+16. The coordinator should set out the mapping using the template in Annex 1.
------+Cooperation structure
---------+17. The coordinator should decide, based on the results of the mapping exercise, whether, in order …
---------+18. The number of participants in meetings or activities related to supplementary supervision …
------+Written coordination arrangements between the coordinator and the competent authorities
---------+19. Written coordination arrangements established for sectoral supervision should be complemented …
---------+20. The additions should be tailored to reflect the nature, size and complexity of the financial …
---------+21. Alternatively, the coordinator and the competent authorities could agree on establishing new …
------+Coordination arrangements with the supervisory authorities of third countries
---------+22. Where a financial conglomerate has significant entities in third countries, the coordinator …
------+Title III – Coordination of information exchange in going concern and emergency situations
------+Scope and frequency
---------+23. The scope of information exchange between competent authorities should include all relevant or …
---------+24. The exchange of information between the coordinator and the competent authorities should …
---------+25. Competent authorities should agree on the frequency, formats and templates for the regular …
---------+26. If a competent authority receives a request for relevant information from another competent …
------+Collecting information
---------+27. Competent authorities should gather the information from the entities under their supervision …
---------+28. The coordinator should lead the information requests on the financial conglomerate. The …
------+Communication channels
---------+29. Competent authorities and the coordinator should consider the use of the full range of …
------+Communication with the financial conglomerate
---------+30. The coordinator should be responsible for communication with the parent undertaking at the head …
------+Communication in emergency situations
---------+31. A competent authority that identifies an emergency situation affecting regulated entities in a …
------+Title IV- Supervisory assessment of financial conglomerates
------+Assessment of a financial conglomerate’s financial situation
---------+32. The coordinator should engage in dialogue with the relevant competent authorities in order to …
---------+33. The coordinator should ensure that the dialogue identifies: a) the main vulnerabilities and …
------+Assessment of capital adequacy policies
---------+34. The coordinator and the relevant competent authorities should review the policies on capital …
---------+35. Such assessments are without prejudice to capital adequacy requirements as set out in the …
---------+36. The coordinator is responsible for the assessment of the conglomerate’s capital adequacy …
---------+37. With respect to capital adequacy calculations, the coordinator should consult the relevant …
------+Assessment of risk concentration
---------+38. In order to perform supplementary supervision of the risk concentration of regulated entities …
---------+39. Taking into account the structure of the financial conglomerate, the coordinator and relevant …
---------+40. Information exchanged between the coordinator and the competent authorities may include, if …
---------+41. The coordinator and the competent authorities should inform each other about any supervisory …
------+Assessment of intra-group transactions
---------+42. In order to perform supplementary supervision of intra-group transactions of regulated entities …
---------+43. The coordinator and the competent authorities should decide whether or not to request from …
---------+44. The coordinator and the competent authorities should agree on: a) the types of intra-group …
---------+45. The coordinator and the competent authorities should inform each other about any supervisory …
------+Assessment of internal control mechanisms and risk management processes
---------+46. For the purpose of assessing risk management processes and internal control mechanisms, the …
---------+47. The competent authorities should provide the coordinator with relevant information regarding …
---------+48. The coordinator should discuss the individual assessments and the overall assessment with …
------+Title V- Supervisory planning and coordination of supervisory activities in going concern and emergency situations
------+Planning and coordination of supervisory activities
---------+49. Following the analysis performed in accordance with Title IV, the coordinator shouId …
---------+50. Where there are specific procedural arrangements described in paragraph 17, the coordinator …
---------+51. Where there is no specific item added to the agenda of the sectoral college for supplementary …
------+Coordinated action plan
---------+52. Where only one sectoral college is established, supervisory activities related to the …
---------+53. Where there is a specific item added to the agenda of the sectoral college for the supervision …
------+Sharing and delegation of tasks
---------+54. The coordinator should lead the discussion on whether and how — taking into account existing …
------+Emergency planning
---------+55. Existing emergency plans developed at sectoral level for the cooperation of authorities in …
------+Title VI - Decision-making processes among competent authorities
---------+56. Title VI specifies procedures that should be followed by competent authorities in various …
------+Procedures to be used in consultation processes
---------+57. The consultation processes referred to in this Title are the following: a) consultation process …
---------+58. When performing consultations, competent authorities should follow the following steps: a) the …
------+Procedures to be used in agreement processes
---------+59. The agreement processes referred to in this Title are the following: a) the agreement process …
---------+60. When reaching an agreement, competent authorities should take the following steps: a) prior to …
------+Procedures to be used in the annual reassessment of waivers
---------+61. When carrying out the annual reassessment of waivers applied for the implementation of …
------+Procedures to be used in the coordination of enforcement measures
---------+62. To coordinate enforcement measures and supervisory actions to be taken under Article 16 of …
---------+63. When coordinating enforcement measures, the information exchange processes described in Title …
------+Title VII- Final provisions and implementation
---------+64. These Guidelines apply as from the date of the reporting requirement referred to on the page 7.
 English - European Union - Financial Industry -

Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates (JC/GL/2014/01)

Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates (JC/GL/2014/01)

https://www.eba.europa.eu/activities/single-rulebook/regulatory-activities/financial-conglomerates/guidelines-convergence-supervisory-practices-relating-consistency-supervisory-coordination – PDF

1. Overview

,
3. Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates

3. Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA - Published by the European Banking Authority at https://www.eba.europa.eu/