27. Where applicable, financial entities, in accordance with paragraph 26, and institutions that …

Where applicable, financial entities, in accordance with paragraph 26, and institutions that, as members of an institutional protection scheme, use centrally provided governance arrangements should comply with the following:

• a. where those financial entities have third-party arrangements with TPSPs within group or institutional protection scheme (IPS) (³⁹ ), the management body of those financial entities retains, also for such third-party arrangements, full responsibility for compliance with all regulatory requirements and the effective application of these Guidelines;
• b. where those financial entities partially or fully rely for the operational tasks of internal control functions on a TPSP within the group- or institutional protection scheme (IPS), for the monitoring and auditing of third-party arrangements, financial entities should ensure that, also for these arrangements, those operational tasks are effectively performed, including through the receiving of appropriate reports.

³⁹ In accordance with Article 113(7) of the CRR, institutional protection scheme means a contractual or statutory liability arrangement which protects those institutions that are a member of the scheme and in particular ensures their liquidity and solvency to avoid bankruptcy where necessary.

1. Yleiskatsaus

1.1 Viittaukset

1.2 Tunnistetut vaatimukset

1.3 Liittyvät standardit

2. Tunnistetut vaatimukset

3. Liittyvät standardit

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