Regulatory Alerts2021-12-06
Instruction No. 2021-I-18 of 6 December 2021 on applications for acquiring control or a qualifying holding in credit institutions
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2021-I-18 to standardize the submission process for applications by credit institutions seeking to acquire control or a qualifying holding in France. The instruction mandates that applicants must use the designated electronic form and submit a complete application dossier, including any supplementary documents, via the European Central Bank's IMAS portal. This directive aligns national procedures with the Single Supervisory Mechanism framework and entered into force on the fifteenth day following its publication in the ACPR's Official Register.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2021-I-18 on applications for acquiring control or a qualifying holding in credit institutions The Prudential Control and Resolution Authority (ACPR), Having regard to Articles 4-1, 14-5 and 15 of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions; Having regard to Articles 80 et seq. of Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank, national competent authorities and national designated authorities (the 'SSM Framework Regulation'); Having regard to the Monetary and Financial Code, in particular Articles L. 511-12-1 and R. 511-3-2 thereof; Having regard to the Order of 4 December 2017 concerning the approval, modifications of status and withdrawal of approval of credit institutions; Having regard to the opinion of the Prudential Affairs Advisory Commission of 16 November 2021, DECIDES Article 1: The following shall be referred to as "credit institutions":
- credit institutions referred to in Section I of Article L. 511-1 of the Monetary and Financial Code; Article 2: Credit institutions that submit an application to the competent authority for acquiring control or a qualifying holding must submit a complete application file to that authority using the form set out in the annex to this instruction.
2 Article 3: This form, together with any requested supplementary documents, must be completed electronically on the ECB's IMAS portal, at the following address: https://imas.ecb.europa.eu/ Article 4: This instruction shall enter into force on the fifteenth day following its publication in the Official Register of the Prudential Control and Resolution Authority. Paris, 6 December 2021 The Designated President, Denis BEAU