+Article 42 Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries
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Article 42 Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries

1. Overview

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Article 42 1

1.   Subsidiaries established in one or more participating Member States by a credit institution that has its head office in a non-participating Member State or third country shall be assessed separately from the branches of that credit institution when determining whether any of the criteria provided for in Article 6(4) of the SSM Regulation is fulfilled.
Article 42 2

2.   The following subsidiaries shall be assessed separately when determining whether any of the criteria provided for in Article 6(4) of the SSM Regulation are fulfilled:

(a)

those that are established in a participating Member State;

(b)

those that belong to a group whose parent undertaking has its head office in a non-participating Member State or a third country; and

(c)

those that do not belong to a supervised group within participating Member States.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards