The Capital Requirements Regulations 2013

Collaboration concerning supervision of cross-border institutions

11.—(1) Where an institution is authorised in the United Kingdom and has a branch or provides services in another EEA State, the appropriate regulator must(1)—

(a) collaborate closely with the competent authority of the institution’s host EEA State in its supervision of that institution;

(b) supply the competent authority of the institution’s host EEA State with all information concerning the ownership and management of the institution that is likely to facilitate the institution’s authorisation and supervision;

(c) supply the competent authority of the institution’s host EEA State with all information likely to facilitate the monitoring of the institution, in particular with regard to any factors that may influence the systemic risk posed by the institution, including its liquidity, solvency, deposit guarantee, limitation of large exposures to which it is subject, administrative and accounting procedures, and internal control mechanisms;

(d) provide the competent authority of the institution’s host EEA State with information and findings pertaining to the supervision of the liquidity of the institution in accordance with Part 6 of the capital requirements regulation and Chapter 3 of Title 7 of the capital requirements directive, to the extent that such information and findings are relevant to the protection of depositors or investors in the host EEA State;

(e) immediately inform the competent authority of the institution’s host EEA State when the institution operating in that State experiences liquidity stress, or can reasonably be expected to experience liquidity stress, and provide the competent authority with details of the planning and implementation of a recovery plan and any prudential measures taken in the context of that plan;

(f) explain to the competent authority of the institution’s host EEA State on request how it has taken into account the information and findings provided by that competent authority.

(2) Where an institution is authorised in another EEA State and has a branch or provides services in the United Kingdom, the appropriate regulator must notify the competent authority of the institution’s home EEA State and EBA in accordance with Article 50(4) of the capital requirements directive before taking any measures to prevent further breaches of the capital requirements directive or capital requirements regulation(2).

(3) Where an appropriate regulator makes a request for collaboration from a competent authority in another EEA State and the competent authority either rejects the request or fails to act upon it within a reasonable time, the appropriate regulator may refer the matter to EBA (who may act in accordance with Article 19 of the EBA Regulation)(3).

(1)

Sub-paragraphs (d) to (f) of paragraph (1) come into force on a date specified in a Commission delegated act. See Schedule 1.

(2)

Paragraph (2) comes into force on a date to be specified in a Commission delegated act. See Schedule 1.

(3)

Paragraph (3) comes into force on a date to be specified in a Commission delegated act. See Schedule 1.