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

Coordination of the supervisory assessment of an emergency situation
Article 34
1
Where an emergency situation occurs, the competent authorities of the home Member State shall coordinate the assessment of the emergency situation (hereinafter ‘coordinated supervisory assessment’) in cooperation with the members of the college pursuant to Article 112(3) of Directive 2013/36/EU.
2
The coordinated supervisory assessment of the emergency situation, prepared by the competent authorities of the home Member State, 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 institution and on any of its affected or likely to be affected branches;
c
the risk of cross-border contagion.
3
When assessing point (c) of paragraph 2, the competent authorities of the home Member State shall consider the potential systemic consequences in any of the Members States where significant branches are established.