Regulatory Alerts2021-08-25
Joint Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates
The European Supervisory Authorities issued these guidelines to harmonize supervisory coordination practices for financial conglomerates across the EU. The document mandates that lead coordinators conduct annual mapping exercises to identify group structures and establish written coordination arrangements with relevant competent authorities. It further requires standardized procedures for cross-border information exchange, joint supervisory assessments of capital and risks, and coordinated decision-making during both normal and emergency situations.
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