Official Journal of the European Union
(c) the following point is added:
‘(48) “consolidating supervisor” means the competent authority responsible for the exercise of supervi sion on a consolidated basis of EU parent credit institutions and credit institutions controlled by EU parent financial holding companies.’;
in Article 40, the following paragraph is added:
their decision, the competent authorities of the host Member State shall take into account any views and res ervations of the consolidating supervisor or the compe tent authorities of the home Member State.
The decisions referred to in the third and fourth subpara graph shall be set out in a document containing the fully reasoned decision and transmitted to the competent authorities concerned, and shall be recognised as deter minative and applied by the competent authorities in the Member States concerned.
The competent authorities in one Member State shall,
in the exercise of their general duties, duly consider the potential impact of their decisions on the stability of the financial system in all other Member States concerned and, in particular, in emergency situations, based on the information
The designation of a branch as being significant shall not affect the rights and responsibilities of the competent authorities under this Directive.
available at the relevant time.’;
The competent authorities of the home Member State
the following Articles are inserted:
shall communicate to the competent authorities of a host Member State where a significant branch is established the information referred to in Article 132(1)(c) and (d) and carry out the tasks referred to in Article 129(1)(c) in cooperation
with the competent authorities of the host Member State.
The competent authorities of a host Member State may
make a request to the consolidating supervisor where Article 129(1) applies or to the competent authorities of the home Member State, for a branch of a credit institution to be
If a competent authority of a home Member State becomes aware of an emergency situation within a credit institution as referred to in Article 130(1), it shall alert as soon as practi cable the authorities referred to in the fourth paragraph of Article 49 and in Article 50.
That request shall provide reasons for considering the branch to be significant with particular regard to the following:
whether the market share of the branch of a credit insti tution in terms of deposit exceeds 2 % in the host Mem ber State;
the likely impact of a suspension or closure of the opera tions of the credit institution on market liquidity and the payment and clearing and settlement systems in the host Member State; and
Where Article 131a does not apply, the competent
authorities supervising a credit institution with significant branches in other Member States shall establish and chair a college of supervisors to facilitate the cooperation under paragraph 2 of this Article and Article 42. The establishment and functioning of the college shall be based on written arrangements determined, after consultation with competent authorities concerned, by the competent authority of the home Member State. The competent authority of the home Member State shall decide which competent authorities par
ticipate in a meeting or in an activity of the college.
(c) the size and the importance of the branch in terms of number of clients within the context of the banking or financial system of the host Member State.
The competent authorities of the home and host Mem ber States, and the consolidating supervisor where Article 129(1) applies, shall do everything within their power to reach a joint decision on the designation of a branch as being significant.
If no joint decision is reached within two months of receipt of a request under the first subparagraph, the competent authorities of the host Member State shall take their own decision within a further period of two months on whether the branch is significant. In taking
The decision of the competent authority of the home Mem ber State shall take account of the relevance of the supervi sory activity to be planned or coordinated for those authorities, in particular the potential impact on the stability of the financial system in the Member States concerned referred to in Article 40(3) and the obligations referred to in paragraph 2 of this Article.
The competent authority of the home Member State shall keep all members of the college fully informed, in advance, of the organisation of such meetings, the main issues to be discussed and the activities to be considered. The competent authority of the home Member State shall also keep all the members of the college fully informed, in a timely manner, of the actions taken in those meetings or the measures car ried out.