Directive on the Supplementary Supervision of Credit Institutions which belong in a Financial Conglomerate (Amendment) of 2025

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Official Gazette of the Republic of Cyprus, Part III(I) No. 5985, 5.12.2025 Number 365

Legal Act 365/2025

THE LAWS ON THE OPERATIONS OF CREDIT INSTITUTIONS OF 1997 TO 2025

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Directive under paragraphs (1) and (2) of Article 41

The Directive on the Supplementary Supervision of Licensed Credit Institutions belonging to a Financial Conglomerate of Heterogeneous Activities (Amending) Directive of 2025.

The Central Bank of Cyprus, exercising the powers conferred upon it under paragraphs (1) and (2) of Article 41 of the Laws on the Operations of Credit Institutions of 1997 to 2025, issues this Directive to licensed credit institutions for the purposes of:

66(I) of 1997
74(I) of 1999
94(I) of 2000
119(I) of 2003
4(I) of 2004
151(I) of 2004
231(I) of 2004
235(I) of 2004
20(I) of 2005
80(I) of 2008
100(I) of 2009
123(I) of 2009
27(I) of 2011
104(I) of 2011
107(I) of 2012
14(I) of 2013
87(I) of 2013
102(I) of 2013
141(I) of 2013
5(I) of 2015
26(I) of 2015
35(I) of 2015
71(I) of 2015
93(I) of 2015
109(I) of 2015
152(I) of 2015
168(I) of 2015
21(I) of 2016
5(I) of 2017
38(I) of 2017
169(I) of 2017
28(I) of 2018
89(I) of 2018
153(I) of 2018
80 (I) of 2019
149(I) of 2019
21(I) of 2020
73(I) of 2020
28 (I) of 2021
94(I) of 2021
95(I) of 2021
162(I) of 2021
163(I) of 2021
61(I) of 2022
62(I) of 2022
162(I) of 2022
17(I) of 2023
59(I) of 2024
158(I) of 2024
14(I) of 2025.

Official Gazette of the EU: L 2864, 20.12.2023, p. 1.
Official Gazette

(a) harmonization with Article 1 (Amendment of Directive 2002/87/EC) of the European Union act titled "Directive (EU) 2023/2864 of the European Parliament and of the Council of 13 December 2023 amending certain directives as regards the establishment and operation of the European Single Access Point", and

(b) implementation of the European Union act titled "Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 on the establishment of a European Single Access Point that provides centralised access to publicly available information relating to financial services, capital markets and sustainability", as last amended by Directive (EU) 2024/1760 of the European Parliament and of the Council of 13 June 2024.

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Official Gazette of the EU: L 2859, 20.12.2023, p. 1; L 1760, 5.7.2024, p. 1.

Official Gazette

Summary title.
Official Gazette
Annex III(I): 2.11.2012, No. 4602 (Legal Act 428/2012)
19.2.2016, No. 4927 (Legal Act 39/2016)

Amendment of paragraph 2 of the basic directive

Official Gazette of the EU: L 2859, 20.12.2023, p. 1; L 1760, 5.7.2024, p. 1

Amendment of the basic directive by adding new paragraph 22B.

"Accessibility of information to the European Single Access Point"

1. This Directive shall be cited as the Directive on the Supplementary Supervision of Licensed Credit Institutions belonging to a Financial Conglomerate of Heterogeneous Activities (Amending) Directive of 2025 and shall be read together with the Directive on the Supplementary Supervision of Licensed Credit Institutions belonging to a Financial Conglomerate of Heterogeneous Activities of 2012 and 2016 (hereinafter referred to as the "basic directive") and the basic directive together with this Directive shall be referred to as the Directive on the Supplementary Supervision of Licensed Credit Institutions belonging to a Financial Conglomerate of Heterogeneous Activities of 2012 to 2025.

2. Paragraph 2 of the basic directive is amended by adding, in the appropriate alphabetical order, the following new terms and their definitions:

"European Single Access Point" or "ESAP" means the European Single Access Point (ESAP) established under Article 1 of Regulation (EU) No 2023/2859.

"Regulation (EU) No 2023/2859" means Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 on the establishment of a European Single Access Point that provides centralised access to publicly available information relating to financial services, capital markets and sustainability, as amended or replaced from time to time.

"collecting entity" has the meaning given to that term by Article 2, point 2) of Regulation (EU) No 2023/2859.

3. The basic directive is amended by adding, immediately after paragraph 22A thereof, the following new paragraph 22B:

22B. (1) From 10 January 2030, upon the public disclosure of any information referred to in sub-paragraph 4 of paragraph 9 of this Directive, Licensed Credit Institutions (LCIs) that are regulated entities shall submit such information simultaneously to the collecting entity referred to in sub-paragraph (4) of this paragraph, with a view to making them accessible to the ESAP.

(2) The information referred to in sub-paragraph (1) shall comply with the following requirements:

(a) submitted in a data exportable format, as defined in Article 2 point 3) of Regulation (EU) No 2023/2859 or, where required by Union law, in a machine-readable format as defined in Article 2 point 4) of that Regulation;

(b) accompanied by the following metadata:
(i) all names of the LCI that is a regulated entity to which the information relates, (ii) the legal entity identifier of the LCI that is a regulated entity, as determined in accordance with Article 7, paragraph 4, point (b) of Regulation (EU) No 2023/2859, (iii) the size of the LCI that is a regulated entity by category, as determined in accordance with Article 7, paragraph 4, point (d) of Regulation (EU) No 2023/2859, (iv) the type of information, as classified in accordance with Article 7, paragraph 4, point (c) of Regulation (EU) No 2023/2859, and (v) an indication of whether the information contains personal data.

(3) For the purposes of point (b)(ii) of sub-paragraph (2) of this paragraph, LCIs that are regulated entities shall obtain a legal entity identifier.

(4) For the purposes of making the information referred to in sub-paragraph (1) of this paragraph accessible to the ESAP, the Central Bank shall be designated as the collecting entity.

Entry into force.
4. This Directive shall enter into force on 10 January 2026.