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2021-12-06

Regulation on the Application of the Guidelines on Internal Governance

Banka Slovenije issued this regulation to formally apply the European Banking Authority's Guidelines on internal governance to banks and savings banks under its supervision. The document mandates that these institutions implement specific internal governance arrangements and mechanisms to ensure effective and prudent management in accordance with EU directives. It also requires Banka Slovenije to consider these guidelines when exercising its supervisory powers, while repealing the previous 2018 regulation on the same subject.

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THIS TEXT IS UNOFFICIAL TRANSLATION AND MAY NOT BE USED AS A BASIS FOR SOLVING ANY DISPUTE Page 1 of 2 Official Gazette of the Republic of Slovenia, No. 184/2021 of 26 November 2021 Pursuant to the third paragraph of Article 13 of the Banking Act (Official Gazette of the Republic of Slovenia, Nos. 92/21 and 123/21 [ZBNIP]; hereinafter: the ZBan-3), and the first paragraph of Article 31 of the Bank of Slovenia Act (Official Gazette of the Republic of Slovenia, Nos. 72/06 [official consolidated version], 59/11 and 55/17), the Governing Board of Banka Slovenije hereby issues the following REGULATION on the application of the Guidelines on internal governance Article 1 (purpose and field of application of guidelines) (1) Pursuant to Article 16(1) 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), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331 of 15 December 2010, p. 12; hereinafter: Regulation (EU) No 1093/2010), on 2 July 2021 the European Banking Authority published the Guidelines on internal governance (EBA/GL/2021/05; hereinafter: the guidelines) on its website. (2) The guidelines specify further the internal governance arrangements, processes and mechanisms that institutions that are subject to Directive 2013/36/EU1 and investment firms that are subject to Title VII of Directive 2013/36/EU in application of Articles 1(2) and 1(5) of Regulation 2019/2033/EU should implement in accordance with Article 74(1) of Directive 2013/36/EU to ensure their effective and prudent management. (3) The guidelines are addressed to:

  1. financial institutions referred to in Article 4(1) of Regulation (EU) No 1093/2010; and
  2. competent authorities referred to in point (i) of Article 4(2) of Regulation (EU) No 1093/2010. Article 2 (content of regulation and scope of application of guidelines) (1) By virtue of this regulation Banka Slovenije sets out the application of the guidelines and all their future amendments, unless stipulated otherwise by Banka Slovenije in respect of a particular amendment to the guidelines, to:
  3. banks and savings banks for whose supervision Banka Slovenije is responsible in accordance with the ZBan-3 and 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 (OJ L 287 of 29 October 2013, p. 63) (hereinafter: banks); and
  4. Banka Slovenije, when in accordance with the ZBan-3 in its role as the competent authority it is exercising supervisory powers and tasks over banks referred to in point 1 of this paragraph. (2) Banks referred to in point 1 of the first paragraph of this article shall take full account of the provisions of the guidelines in the parts addressed to banks.

1 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27 June 2013, p. 338).

THIS TEXT IS UNOFFICIAL TRANSLATION AND MAY NOT BE USED AS A BASIS FOR SOLVING ANY DISPUTE Page 2 of 2 (3) In exercising its supervisory powers and tasks in accordance with the ZBan-3 and Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176 of 27 June 2013, p. 1), Banka Slovenije shall take full account of the provisions of the guidelines in the parts relating to the exercise of the powers and tasks of the competent authority. Article 3 (repeal of Regulation on the application of the Guidelines on internal governance) On the day that this regulation begins to be applied, the Regulation on the application of the Guidelines on internal governance (Official Gazette of the Republic of Slovenia, No. 33/18) shall cease to be in force. Article 4 (entry into force) This regulation shall enter into force on the day after its publication in the Official Gazette of the Republic of Slovenia, and shall begin to be applied on 31 December 2021. Ljubljana, 23 November 2021 Boštjan Vasle President, Governing Board of Banka Slovenije

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