Regulatory Alerts2021-12-07
Compliance with EBA Guidelines on the supervision of the threshold and other procedural aspects concerning the establishment of intermediate parent companies (EBA/GL/2021/08)
The French Prudential Supervision and Resolution Authority (ACPR) has formally declared compliance with European Banking Authority Guidelines EBA/GL/2021/08 concerning threshold supervision and procedural requirements for establishing intermediate parent companies in the Union. These guidelines take effect on 31 December 2021 and apply to ACPR-supervised branches and subsidiaries of third-country groups, encompassing financial holding companies, mixed financial holding companies, investment holding companies, credit institutions, and investment firms. All covered entities must implement all necessary measures to ensure full compliance with these requirements in accordance with Article 16 of Regulation (EU) No 1093/2010.
NOTICE Compliance with the European Banking Authority Guidelines EBA/GL/2021/08 on the supervision of the threshold and other procedural aspects concerning the establishment of intermediate parent companies in the Union
The Prudential Supervision and Resolution Authority (ACPR) hereby declares compliance with the European Banking Authority Guidelines (EBA/GL/2021/08) on the supervision of the threshold and other procedural aspects concerning the establishment of intermediate parent companies in the Union in this notice.
These Guidelines apply from 31 December 2021 to branches and subsidiaries of third-country groups established in the Union subject to ACPR supervision, whether they take the form of financial holding companies, mixed financial holding companies, investment holding companies, credit institutions or investment firms. They must take all necessary measures to comply with them, in accordance with Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority).