Instruction No. 2015-I-21 on the transmission of regulatory reporting for the 'banking separation law' sub-group for institutions with a dedicated subsidiary

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2015-I-21 regarding the transmission of regulatory reporting for the sub-group "banking separation law" for institutions that have created a dedicated subsidiary within the meaning of Title I of Law No. 2013-672 on the separation and regulation of banking activities of July 26, 2013

The Prudential Control and Resolution Authority, Having regard to Directive 2013/36/EU of the European Parliament and of the Council of June 26, 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms; Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of June 26, 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; Having regard to Commission Implementing Regulation (EU) No 680/2014 of April 16, 2014 laying down technical standards for implementation concerning prudential information to be provided by institutions in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council; Having regard to the Monetary and Financial Code, in particular Articles L. 511-41, L. 511-47, L. 511-48, L. 511-49, L. 612-24 and R. 511-16; Having regard to the Order of September 9, 2014 implementing Title I of Law No. 2013-672 of July 26, 2013 on the separation and regulation of banking activities; Having regard to the opinion of the Prudential Affairs Consultative Committee dated September 18, 2015, Decides:

Article 1 The following are hereinafter referred to as "subject institutions": credit institutions, financial holding companies and mixed financial holding companies whose trading activities in financial instruments exceed the threshold defined in Article R. 511-16 of the Monetary and Financial Code and which have created a dedicated subsidiary for carrying out the activities mentioned in I of Article L. 511-47 of the same code, authorized as an investment firm or, where applicable, as a credit institution.

2

Article 2 In compliance with Article L. 511-48 of the Monetary and Financial Code and to enable the monitoring of compliance with the management standards mentioned in Article L. 511-41 on the basis of the consolidated financial situation of the subject institutions by excluding from that situation the dedicated subsidiary for carrying out the activities mentioned in I of Article L. 511-47, the subject institutions transmit to the General Secretariat of the Prudential Control and Resolution Authority: a) Declarations concerning own funds and own funds requirements in the format and frequency defined by Article 6 of Commission Implementing Regulation (EU) No 680/2014 of April 16, 2014 mentioned above, based on the consolidated situation of the subject institution excluding the dedicated subsidiary from that situation; b) Declarations concerning large exposures to be provided on a consolidated basis in the format and frequency defined in Article 13 of the aforementioned Implementing Regulation, based on the consolidated situation of the subject institution excluding the dedicated subsidiary from that situation, applying, for these declarations, the adaptations defined in Article 8 of the aforementioned Order of September 9, 2014. For these declarations, only exposures vis-à-vis the separate subsidiary are to be reported; c) Declarations concerning the leverage ratio on a consolidated basis in the format and frequency defined by Article 14 of the aforementioned Implementing Regulation, based on the consolidated situation of the subject institution excluding the dedicated subsidiary from that situation.

Article 3 The reference and submission dates for the declarations mentioned in Article 2 of this Instruction correspond to those defined in Chapter 2 of Commission Implementing Regulation (EU) No 680/2014 of April 16, 2014 mentioned above.

Article 4 This Instruction enters into force upon its publication.

Paris, October 2, 2015 The President of the Prudential Control and Resolution Authority, [Christian NOYER]