Regulatory Alerts2022-05-25
Circular CSSF 22/814 on the monitoring of the threshold and procedural aspects for establishing an intermediate EU parent undertaking
The CSSF has integrated the EBA Guidelines into its administrative practices to enforce the requirement for third-country groups with EU assets exceeding EUR 40 billion to establish an intermediate EU parent undertaking. Institutions must calculate the total asset value quarterly using a four-quarter average and conduct annual forward-looking monitoring to predict if the threshold will be reached within three years. Affected entities are required to exchange necessary information internally and notify the CSSF promptly when they anticipate exceeding the asset threshold.
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