CHAPTER 3

CONDITIONS REGARDING THE FUNCTIONING OF COLLEGES FORMED IN ACCORDANCE WITH ARTICLE 51(3) OF DIRECTIVE 2013/36/EU
SECTION 3

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

Establishment of a college framework for emergency situations
Article 32
1
The competent authorities of the home Member State and the members of the college shall establish a college framework in anticipation of possible emergency situations in accordance with Article 112(1)(c) of Directive 2013/36/EU (hereinafter ‘college framework for emergency situations’).
2
The college framework for emergency situations shall include at least the following:
a
the college-specific procedures that shall apply where an emergency situation as referred to in Article 114(1) of Directive 2013/36/EU arises;
b
the minimum set of information that shall be exchanged where an emergency situation as referred to in Article 114(1) of Directive 2013/36/EU arises.
3
The minimum set of information referred to in point (b) of paragraph 2 shall include the following:
a
an outline of the situation that has occurred, including the underlying cause of the emergency situation, and the expected impact of the emergency situation on the institution, on the market liquidity and on the stability of the financial system;
b
an explanation of the measures and actions that have been taken or are planned to be taken, by the competent authorities of the home Member State or any of the members of the college or by the institution itself;
c
the latest available quantitative information regarding liquidity and capital position of the institution.