Regulatory Alerts2016-01-01
Decree No. 198/2016 Coll. amending Decree No. 347/2006 Coll. on the implementation of certain provisions of the Act on Financial Conglomerates
The Czech National Bank issued Decree No. 198/2016 Coll. to amend Decree No. 347/2006 Coll. regarding the implementation of the Act on Financial Conglomerates. The amendment aligns domestic regulations with updated European Union directives and delegated regulations, specifically by removing references to electronic money institutions and deleting obsolete provisions concerning reporting structures and eligibility criteria. It establishes that the calculation of the supplementary capital requirement must be performed at least quarterly in accordance with directly applicable EU technical standards.
Share