+Guidelines on Connected Clients (EBA/GL/2017/15)
---+1. Compliance and reporting obligations
------+Status of these guidelines
---------+1. This document contains guidelines issued pursuant to Article 16 of Regulation (EU) No 1093/2010. …
---------+2. Guidelines set out the EBA’s view of appropriate supervisory practices within the European …
------+Reporting requirements
---------+3. In accordance with Article 16(3) of Regulation (EU) No 1093/2010, competent authorities must …
---------+4. In the absence of any notification by this deadline, competent authorities will be considered by …
---------+5. Notifications will be published on the EBA website, in line with Article 16(3).
---+2. Subject matter, scope and definitions
------+Subject matter
---------+6. These guidelines specify the approach institutions, as defined under point (3) of Article 4(1) …
------+Addressees
---------+7. These guidelines are addressed to competent authorities as defined in point (i) of Article 4(2) …
------+Definitions
---------+8. Unless otherwise specified, terms used and defined in Regulation (EU) No 575/2013 and Directive …
---+3. Implementation
------+Date of application
---------+9. These guidelines apply from 1 January 2019.
------+Repeal
---------+10. The CEBS ‘Guidelines on the implementation of the revised large exposures regime’, of 11 …
---+4. Groups of connected clients based on control
---+5. Alternative approach for exposures to central governments
------+16. In line with the definition of ‘group of connected clients’ under the second last subparagraph …
------+17. The same provision allows for a partial application of the alternative approach, assessing …
------+18. The provision also makes clear that: a) The central government is included in each of the …
------+19. Where the entities directly controlled by or directly interconnected with the central …
------+20. In line with the last sentence of the second last subparagraph of Article 4(1)(39) of …
---+6. Establishing interconnectedness based on economic dependency
---+7. Relation between interconnectedness through control and interconnectedness through economic dependency
---+8. Control and management procedures for identifying connected clients
------+34. Institutions should have a thorough knowledge of their clients and their clients’ …
------+35. Identification of possible connections among clients should be an integral part of an …
------+36. Institutions should identify all control relationships among their clients and document as …
------+37. The efforts that institutions put into the investigation of economic dependencies among their …
------+38. To assess grouping requirements based on a combination of control and economic dependency …
------+39. Control and management procedures for identifying connected clients should be subject to …
---+Annex
------+Groups of connected clients based on control
---------+Scenario C 1: Exceptional case (no single risk exists despite the existence of control)
------+Alternative approach for exposures to central governments
---------+Scenario CG 1: Alternative approach – partial use
---------+Scenario CG 2: Alternative approach – used for all directly dependent entities
---------+Scenario CG 3: Alternative approach – applicable on ‘first/second level’, not below
---------+Scenario CG 4: ‘Horizontal connections’ on the ‘second level’
------+Establishing interconnectedness based on economic dependency
---------+Scenario E1: Main case
---------+Scenario E3: Overlapping groups of connected clients
---------+Scenario E4: Chain of dependency
---------+Scenario E5: Reporting institution as source of funding (no grouping requirement)
------+Relation between interconnectedness through control and interconnectedness through economic dependency
---------+dependency)
---------+dependency)
---------+Scenario C/E 3: Downstream contagion
---------+Scenario C/E 4: Upstream contagion
------+Control and management procedures for identifying connected clients
---------+Scenario Mm 1: Limits to the identification of a chain of contagion
------+B A
------+A A B
------+B B
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Guidelines on Connected Clients (EBA/GL/2017/15)
Guidelines on Connected Clients (EBA/GL/2017/15) Consolidated version. https://www.eba.europa.eu/activities/single-rulebook/regulatory-activities/large-exposures/guidelines-connected-clients – PDF
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