CHAPTER 2

CONDITIONS REGARDING THE FUNCTIONING OF COLLEGES FORMED IN ACCORDANCE WITH ARTICLE 116 OF DIRECTIVE 2013/36/EU
SECTION 3

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

Coordination of the supervisory assessment of an emergency situation
Article 19
1
Where an emergency situation occurs, the consolidating supervisor shall coordinate the assessment of the emergency situation (hereinafter ‘coordinated supervisory assessment’) in cooperation with the members of the college who supervise group entities that are affected or likely to be affected by that emergency situation.
2
The coordinated supervisory assessment of the emergency situation, performed in accordance with Article 14 of Implementing Regulation (EU) 2016/99, shall cover at least the following elements:
a
the nature and severity of the emergency situation;
b
the impact or potential impact of the emergency situation on the group and on any of its affected or likely to be affected group entities;
c
the risk of cross-border contagion.
3
When assessing point (c) of paragraph 2, the consolidating supervisor shall consider the potential systemic consequences in any of the Members States where entities of the group are authorised or where significant branches are established.