Commission Implementing Regulation (EU) 2016/99Show full title

SECTION 3 Planning and coordination of supervisory activities in preparation for and during emergency situations

Article 12 Establishment and update of the college framework for emergency situations

1. The consolidating supervisor shall prepare its proposal for establishing a college framework for emergency situations in accordance with Article 17 of Delegated Regulation (EU) 2016/98.

2. The consolidating supervisor shall submit its proposal to the members of the college, inviting them to provide their views and indicating the appropriate deadline for the submission of those views.

3. The consolidating supervisor shall take into account any views and reservations expressed by the members of the college, and explain, if necessary, the reasons for not incorporating them.

4. The consolidating supervisor shall communicate the final version of the college framework for emergency situations to the members of the college.

5. The consolidating supervisor and the members of the college shall consider, at least on an annual basis, the need to update the college framework for emergency situations.

6. The consolidating supervisor and the members of the college shall update the college framework for emergency situations by following the process set out in paragraphs 1 to 4.

Article 13 Exchange of information during an emergency situation

1. Where the consolidating supervisor becomes aware of an emergency situation which affects or is likely to affect an institution or a branch of the group respectively authorised or established in a Member State, the consolidating supervisor shall alert EBA and the member of the college who supervises the institution or the branch affected or likely to be affected by the emergency situation, without undue delay.

2. Where a member of the college becomes aware of an emergency situation which affects or is likely to affect an institution or a branch of the group respectively authorised or established in a Member State, the member of the college shall alert the consolidating supervisor without undue delay.

3. The consolidating supervisor shall ensure that all other members of the college are adequately informed about the main elements of the following:

(a) the coordinated supervisory assessment of the emergency situation as referred to in Article 14;

(b) the coordinated supervisory response as referred to in Article 15, including the actions taken or planned to be taken, and its monitoring as referred to in Article 16;

(c) the early intervention measures adopted pursuant to Articles 27, 28 and 29 of Directive 2014/59/EU of the European Parliament and of the Council(1), as relevant, taking into account the necessity for the coordination of these measures in accordance with Article 30 of that Directive, or the determination of the conditions for resolution pursuant to Article 32 of that Directive.

4. Where the coordinated supervisory response to an emergency situation as referred to in Article 15 is likely to be more efficient by involving the group-level resolution authority, resolution authorities of subsidiaries or resolution authorities of jurisdictions in which significant branches are located, central banks, competent ministries and deposit guarantee schemes, the consolidating supervisor shall consider the involvement of those authorities.

5. Where an emergency situation is restricted to a specific group entity, the situation shall be managed by the member of the college responsible for the supervision of that group entity concerned in liaison with the consolidating supervisor.

Article 14 Coordination of the supervisory assessment of an emergency situation

1. For the purposes of Article 19 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall coordinate the development of a draft coordinated supervisory assessment of the emergency situation, based on its own assessment and the assessment of the members of the college who supervise group entities that are affected or likely to be affected by the emergency situation.

2. The draft coordinated supervisory assessment of the emergency situation shall cover the affected or likely to be affected group entities. The views and assessments of the members of the college responsible for the supervision of those group entities shall be adequately taken into account by the consolidating supervisor.

3. Where the emergency situation is restricted to a specific group entity, the member of the college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the supervisory assessment of the emergency situation.

Article 15 Coordination of the supervisory response to an emergency situation

1. For the purposes of Article 20 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall lead the development of a coordinated supervisory response to the emergency situation with regard to the group and its affected or likely to be affected group entities. The views and assessments of the members of the college responsible for the supervision of these group entities shall be adequately taken into account by the consolidating supervisor.

2. Where the emergency situation is restricted to a specific group entity, the member of the college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the development of the coordinated supervisory response to the emergency situation.

3. The consolidating supervisor and the members of the college shall perform the tasks referred to in paragraphs 1 and 2 without undue delay.

4. The development of the coordinated supervisory assessment of an emergency situation as referred to in Article 14 and the development of the coordinated supervisory response to this emergency situation may be run in parallel.

Article 16 Monitoring and update of the coordinated supervisory response to an emergency situation

1. For the purposes of Article 21 of Delegated Regulation (EU) 2016/98, the consolidating supervisor shall coordinate the monitoring of the implementation of the agreed actions set out in the coordinated supervisory response referred to in Article 15.

2. The members of the college responsible for the supervision of the group entities affected or likely to be affected by the emergency situation shall inform the consolidating supervisor of the evolution of the emergency situation and the implementation of the agreed actions related to their respective group entities, as relevant.

3. Any updates on the monitoring of the coordinated supervisory response shall be provided by the consolidating supervisor to the members of the college, including EBA, and shall cover the group and the affected or likely to be affected group entities.

4. The consolidating supervisor and the members of the college responsible for the supervision of the group entities affected or likely to be affected by the emergency situation shall consider the need to update the coordinated supervisory response taking into account the information provided to each other while monitoring its implementation.

5. The requirements set out in paragraphs 1 to 4 shall apply without undue delay.

(1)

Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).