Procedures to be used in the annual reassessment of waivers

When carrying out the annual reassessment of waivers applied for the implementation of supplementary supervision, and a review of the quantitative indicators set out in Article 3 of Directive 2002/87/EC and of the risk-based assessments applied to financial groups in accordance with Article 3(9) of Directive 2002/87/EC, competent authorities should take the following steps:

• a) for the purposes of the performance of the reassessment and review, the competent authorities should act in accordance with a supervisory plan to be agreed sufficiently in advance;
• b) the reassessment and process should be led by the coordinator, who should organise the necessary meetings to fulfil the mandate;
• c) the coordinator should estimate the resources that will be needed and communicate them to the relevant competent authorities; the coordinator and the other relevant competent authorities should allocate resources in accordance with the coordinator’s estimate;
• d) where the reassessment and review indicate that it is appropriate to make changes to the waivers, quantitative indicators or risk-based assessments, competent authorities should apply the process set out in paragraph 60 in order to reach an agreement on those changes.