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Directive 2010/78/EU of the European Parliament and of the CouncilShow full title
Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/EC in respect of the powers of the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority) (Text with EEA relevance)
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Article 10Amendments to Directive 2006/49/EC
Directive 2006/49/EC is hereby amended as follows:
(1)
In Article 18, the following paragraph is added:
‘5.The European Supervisory Authority (European Banking Authority) (hereinafter “EBA”) established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council(1), may develop draft regulatory technical standards to specify the assessment methodology under which competent authorities permit institutions to use internal models for the purposes of calculating capital requirements under this Directive.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010.’.
(2)
In Article 22(1), the following subparagraph is added:
‘Where the competent authorities waive the application of capital requirements on a consolidated basis provided for in this Article, they shall notify the Commission and EBA.’.
(3)
Article 32(1) is amended as follows:
(a)
the second subparagraph is replaced by the following:
‘The competent authorities shall notify EBA, the Council and the Commission of those procedures.’;
(b)
the following subparagraph is added:
‘EBA shall issue guidelines in relation to the procedures referred to in this paragraph.’.
(4)
Article 36(1) is replaced by the following:
‘1.Member States shall designate the authorities which are competent to carry out the duties provided for in this Directive. They shall inform EBA and the Commission thereof, indicating any division of duties.’.
(5)
In Article 38(1), the following subparagraphs are added:
‘The competent authorities shall cooperate with EBA for the purposes of this Directive, in accordance with Regulation (EU) No 1093/2010.
The competent authorities shall without delay provide EBA with all information necessary to carry out its duties under this Directive and under Regulation (EU) No 1093/2010, in accordance with Article 35 of that Regulation.’.
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