Final Report on Draft RTS and ITS on Supervisory Colleges

EBA/RTS/2024/01
EBA/ITS/2024/01
9 January 2024
Final Report
Draft regulatory technical standards on general conditions of the functioning of supervisory colleges under Article 51(4) and Article 116(4) of Directive 2013/36/EU (Capital Requirements Directive – CRD V) and Draft implementing technical standards on the operational functioning of supervisory colleges under Article 51(5) and Article 116(5) of Directive 2013/36/EU (Capital Requirements Directive – CRD V)

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Contents

1. Executive Summary 3
2. Background and rationale 5
3. Draft regulatory technical standards on general conditions of the functioning of
   supervisory colleges under Article 51(4) and Article 116(4) of Directive 2013/36/EU (Capital Requirements Directive – CRD V) and Draft implementing technical standards on the operational functioning of supervisory colleges under Article 51(5) and Article 116(5) of Directive 2013/36/EU (Capital Requirements Directive – CRD V) 9
4. Accompanying documents 73

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES

1. Executive Summary
   The Commission Delegated Regulation (EU) 2016/98 and the Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 1 as mandated by the CRD 51(4), 116(4) and respectively 51(5) and 116(5) specifying the functioning of supervisory colleges were published by the European Commis￾sion in January 2016. The Commission Delegated Regulation specifies the general conditions for the establishment and functioning of colleges of supervisors based on the regulatory technical stand￾ards developed by the EBA (RTS on colleges of supervisors), and the Implementing Regulation es￾tablishes important procedures to structure and facilitate the interaction and cooperation between the consolidating supervisor and the relevant competent authorities based on the implementing technical standards submitted by the EBA (ITS on colleges of supervisors). Since then, the legal framework in relation to banks and investments firms has been further devel￾oped in the CRD V 2 and CRR 2 as well as the IFD/IFR, and these developments necessitate the up￾date of the RTS and ITS on colleges of supervisors. Henceforth, additional competent authorities are involved in supervisory colleges taking into account new direct supervisory powers towards (mixed) financial holding companies and EU parent (mixed) financial holding companies. Supervi￾sory college should be set up where all the cross-border subsidiaries of an EU parent institution have their head offices in third countries in order to ensure effective and efficient supervisory co￾operation for cross-border banking groups headquartered in the EU. Changes in the Pillar 2 frame￾work in the CRD V, in the context of Pillar 2 Guidance and risk of excessive leverage, should also be reflected in the information exchange in supervisory colleges as well as with the resolution college. Furthermore, EBA has gathered valuable information on the functioning of colleges, as part of its ongoing college monitoring activity, including on the implementation of the provisions of the RTS and ITS on colleges of supervisors by competent authorities, as well as in the context of recent economic developments caused by Covid-19 pandemic and the Russian invasion of Ukraine. The intensity of cooperation between supervisory colleges and resolution colleges, as well as the super￾visory and AML/CFT colleges has also been monitored. These Regulations incorporate the results of such monitoring in order to enhance the cooperation and information exchange between the supervisory college and the other colleges, in particular between the consolidating supervisor and the group-level resolution authority, being an observer in the supervisory college, including in case of an emergency situation or an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State. Given the number of changes needed to update the RTS and ITS on colleges of supervisors, the EBA proposes to repeal the current RTS and ITS on
   colleges of supervisors and replace it with these The Commission Delegated and Implementing Regulations were based on the draft regulatory technical standards and implementing technical standards submitted by the European Banking Authority (EBA) to the Commission on 19 December 2014. It is noted that potential amendments proposed in the context of the CRD VI have not been taken into account, however are to kept in mind to avoid that the updates contain contradictory proposals to the CRD VI.

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Regulations. Since the publication of the RTS and ITS on colleges of supervisors in 2016, other types of colleges have been established and therefore the opportunity is also used to clarify in the title of the document that the subject of these Regulations are ‘supervisory’ colleges. Both of the RTS and ITS on supervisory colleges are incorporated into this single Final Report. Next steps The draft regulatory and implementing technical standards will be submitted to the Commission for endorsement following which the RTS and ITS will be subject to scrutiny by the European Parliament and the Council before being published in the Official Journal of the European Union.

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES
2. Background and rationale
Cooperation between authorities at both the EU and global level is key to strengthening the supervision of cross-border groups during going concern and emergency situations through the framework of supervisory colleges. As witnessed during the Global Financial Crisis in 2007-2009 but also in the current period with high macroeconomic and geopolitical risks, it is crucial that institutions operating in more than one country are supervised effectively. Supervisory colleges allow supervisory authorities to cooperate closely, share knowledge and use skills and resources more effectively and efficiently which ultimately should lead to a profound supervision of the cross-border group. On the basis of the mandates set out by Article 51(4) and (5) and Article 116(4) and (5) of Directive 2013/36/EU, EBA developed draft Regulations on colleges of supervisors that were adopted by Delegated Regulation (EU) 2016/98 and Implementing Regulation (EU) 2016/99 of 16 October 2015. With these Regulations the EBA incorporates the amendments of the CRD V and CRR into the functioning of supervisory colleges and channels in lessons learnt from the implementation of Delegated Regulation (EU) 2016/98 and Implementing Regulation (EU) 2016/99 as observed by its continuous monitoring activities in accordance with Article 21 of Regulation (EU) 2010/1093.
2.1 Incorporating the amendments of the CRD V and CRR 2 in these
Regulations on supervisory colleges
Enlargement of the application of the framework of supervisory colleges:

• by involving the supervisory authorities of mixed financial holding companies and financial
  holding companies that take management, operational or financial decisions brought under the direct scope of the CRD and CRR to ensure compliance with the requirements on a consolidated basis (Article 21a CRD) in supervisory colleges;
• by setting up supervisory colleges for third country groups with two or more institutions in the
  Union previously without a parent undertaking, following the requirement to establish one, or under circumstances laid down in the CRD V, two intermediate holding companies in the Union (Article 21b CRD), and;
• by setting up supervisory colleges where all the cross-border subsidiaries of an EU parent
  institution, an EU parent financial holding company or an EU parent mixed financial holding company have their head offices in third countries (Article 116(1a) CRD). Enhancement of the information exchange and cooperation with other authorities, other than those responsible for prudential supervision, using the framework of the colleges, namely between:

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES

• supervisory colleges and resolution colleges (Article 4(8) CRD), and;
• supervisory colleges and colleges of supervisors combating money laundering and
  terrorism financing (AML/CFT colleges) (Article 117(5) CRD).
  2.2 Incorporating the results of EBA’s monitoring approach
  Improve the information exchange between the members of supervisory college with the aim to facilitate the identification of early warning signs, potential risks and vulnerabilities for the group and its entities and for the system in which they operate by clarifying the requirements of the information exchange and introducing a further requirement, such as the information exchange in case of an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are deemed important as determined in these Regulations on supervisory colleges. Furthermore, aiming at a more efficient and effective operational functioning of supervisory colleges by:
• Clarifying the framework of observership, in particular the type of authorities that shall or
  may be requested to become observers of the supervisory college and the process that the consolidating supervisor should follow when sending requests to authorities;
• Enhancing the process for identifying tasks for voluntary entrustment and potential
  delegation of responsibilities in the framework of the preparation of the supervisory examination programme;
• Clarifying that supervisory college meetings can also be held in virtual format;
• Clarifying how the consent to a written arrangement can be provided.
  2.3 Enhanced information exchange in supervisory colleges
  Another element of these draft Regulations is the enhanced information exchange between members and observers of the supervisory college and also with other types of colleges. Enhanced information exchange between the members of the college As the joint decision on capital, not only addresses risks other than the risk of excessive leverage, but also the risks of excessive leverage pursuant to Article 113 of Directive 2013/36/EU, this information has to be exchanged in supervisory colleges bringing the provisions of these Regulations on supervisory colleges in line with the CRD V requirements. The EBA found, in the context of its ongoing college monitoring and also in the context of recent events like the Covid-19 pandemic or the Russian invasion of Ukraine, that the information exchange on the early warning signs, potential risks and vulnerabilities, including the consequences of events of adverse material effect on the risk profile of the group and its entities, can be improved. Thus, it is foreseen that supervisory colleges exchange information in case of such event in order to enhance their ability to react quickly to the deterioration in the risk profile of the group or its entities.

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Enhanced information exchange and cooperation with observers In line with the changes in the CRD V, these Regulations on supervisory colleges aim to ensure a consistent and enhanced cooperation and information exchange on a broader scale with the group￾level resolution authority, the lead supervisor of the AML/CFT college, the third country supervisory authorities where institutions or branches of the group are established that are deemed important, and with the coordinator of the financial conglomerate, if that is different from the consolidating supervisor responsible for the sectoral group-wide supervision. These Regulations require the consolidating supervisor to request notably the aforementioned authorities to become observers of the supervisory college subject to agreement of the terms of their participation by all the members of the supervisory college and, in case of third country supervisory authorities, on the assessment of equivalence of the confidentiality and professional secrecy requirements applicable. These Regulations also clarifies the process of the identification of mandatory and non-mandatory observers. Despite having observership status, their participation in a specific college activity or meeting, or meeting agenda item, should always depend on the topics to be addressed, their relevance for each group entity and for the performance of the tasks of the observers, as well as also on the importance of a group entity for the group. Therefore, in preparation for a college activity or meeting, or agenda item of a meeting, the consolidating supervisor should send the invitation to an observer, if it considers that the topic to be addressed or discussed, is relevant for the performance of the task of the observer. However, the group-level resolution authority should always receive the agenda of the supervisory college meeting for information, even if it is not invited for a particular meeting. Cooperation with resolution authorities/colleges through the group-level resolution authority The CRD requires that resolution authorities and supervisory authorities should not only cooperate in relation to the preparation of resolution plans but also in all other instances where cooperation is required, in going concern and in emergency situations. Thereto these Regulations foresee that, when the topics discussed at a meeting concern the recovery planning, or other item that impacts the resolvability of a group, the consolidating supervisor is expected to invite the group-level resolution authority to this meeting or agenda item. The consolidating supervisor has the task to channel information discussed in the supervisory college to the resolution college, through the group-level resolution authority, on aspects that influence the resolvability and resolution planning, in particular the assessment of the group recovery plan and requirements
following the joint decision. In case of an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are important as determined in accordance with these Regulations, the group-level resolution authority will also be informed if this information is relevant for the performance of its tasks. Finally, it is foreseen that in an emergency situation, the consolidating supervisor when devising a coordinated response shall involve and consider any input provided by the group-level resolution authority. Cooperation with AML/CFT colleges through the lead supervisor of the AML/CFT college In order to enhance the cooperation and information exchange between the prudential and AML/CFT colleges, the lead supervisor of the AML/CFT college shall be requested by the consolidating supervisor to become observer of the supervisory college. This would allow the lead AML/CFT supervisor to

FINAL REPORT ON DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES channel to the supervisory college any issues or risks, with potential prudential implications, identified in the AML/CFT college. Equally when the lead supervisor of the AML/CFT college, based on an invitation by the consolidating supervisor of the prudential college, attends certain sessions/meetings of the supervisory college it will be informed about prudential risks that might impact ML/FT risks. These TSs do not aim to duplicate the tasks of the consolidating supervisor or the lead supervisor of the AML/CFT college. For example, if the consolidating supervisor considers that an item was discussed in detail in the AML/CFT college, in which it participated, the lead supervisor of the AML/CFT college may not be invited for the meeting of the prudential college. Instead, the information gathered by the consolidating supervisor will be channelled to the prudential college by the group risk assessment. Similarly, the lead supervisor of the AML/CFT college can refuse the invitation sent by the consolidating supervisor for a college meeting organised in the prudential college, if it considers that it has already sufficient information on the items to be discussed. Supervisory colleges involving third country supervisory authorities When the CRD V requires the establishment of colleges for third-country groups, the third country supervisory authority will also receive important information from the consolidating supervisor on a going concern basis as well as in preparation for or in emergency situations, when the consolidating supervisor deems it relevant for the performance of the tasks of the third country supervisory authority. These Regulations also provide for the framework for the establishment of supervisory colleges in accordance with Article 116(1a) of CRD V. Notably, for their establishment, the consolidating supervisor should invite the supervisors of all the cross-border subsidiaries of an Union entity, while, for the purpose of Article 116(1), only the important subsidiary in third countries should be invited. For their functioning, these 116(1a) colleges have to apply Articles 112(1), 114(1) and 115(1) of CRD V, in the same way as colleges established on the bases of Article 116(1) CRD. Conversely, they do not have to apply any provision based on Article 113 CRD. Therefore, there is no need to establish dedicated provisions or procedures for the functioning of colleges established on Article 116(1a) of that Directive.

3. Draft regulatory technical standards
   on general conditions of the functioning of supervisory colleges under Article 51(4) and Article 116(4) of Directive 2013/36/EU (Capital Requirements Directive – CRD V) and Draft implementing technical standards on the operational functioning of supervisory colleges under Article 51(5) and Article 116(5) of Directive 2013/36/EU (Capital Requirements Directive – CRD V)

COMMISSION DELEGATED REGULATION (EU) 20xx/xx of date month year supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the general conditions for the functioning of supervisory colleges, and repealing Commission Delegated Regulation (EU) 2016/98 (Text with EEA relevance) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Directive 2013/36/EU of 26 June 2013 of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC 3 , and in particular to Article 51(4), second subparagraph, and Article 116(4), third subparagraph, thereof, Whereas:
(1) On the basis of the mandates set out by Article 51(4) and Article 116(4) of Directive 2013/36/EU, the European Banking Authority (EBA) developed draft regulatory technical standards that were adopted by Commission Delegated Regulation (EU) 2016/98 of 16 October 2015, supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for spec￾ifying the general conditions for the functioning of colleges of supervisors 4 . (2) That Delegated Regulation specifies rules and conditions for performing the mapping of a group, setting up a college, establishing written coordination and cooperation arrangements, requesting authorities that are involved in the supervision of a group entity and EBA to become members of the supervisory college and notably third country supervisory authorities, public authorities or bodies which are responsible for supervision of markets in financial instruments, the prevention of the use of the finan￾cial system for money laundering and terrorist financing, the resolution or consumer protection to become observers. On an ongoing basis, that Delegated Regulation also provides the mechanisms for interacting and coordinating supervisory actions, includ￾ing the development of a college supervisory examination programme, between the 3 OJ L 176, 27.6.2013, p. 338. 4 OJ L 21, 28.1.2016, p. 2.

consolidating supervisor and college members. This cooperation facilitates the iden￾tification of early warning signs, potential risks and vulnerabilities for the group and its entities and for the system in which they operate and ensures coordinated supervi￾sory activities in going concern and in preparation for and during emergency situa￾tions, including for group recovery planning and contingency planning purposes and for providing coordinated input to the resolution college. (3) Delegated Regulation (EU) 2016/98 should be amended to take into account Regula￾tion (EU) 2019/876 of the European Parliament and the Council 5 and Directive (EU) 2019/878 of the European Parliament and the Council 6 , which amended the prudential requirements relevant for supervisory colleges as set out by Directive 2013/36/EU. (4) To reflect that compliance with prudential requirements is ensured on a consolidated basis throughout the group, that Delegated Regulation should also be modified to in￾clude mixed financial holding companies and financial holding companies approved under Article 21a of Directive 2013/36/EU, as well as intermediate EU parent under￾takings established under Article 21b of that Directive, in the framework of the col￾lege. In particular, where the relevant competent authority has approved, under Arti￾cle 21b(2) of Directive 2013/36/EU, the set-up of two intermediate EU parent under￾takings belonging to the same third-country group, two supervisory colleges might be set up. Each college, through the participation of the consolidating supervisor or group supervisor, where applicable, as an observer of the other college, should ensure cooperation to achieve efficient and effective supervision of third-country groups op￾erating in the Union. (5) To ensure the appropriate involvement of third-country authorities in supervisory col￾leges, where all the cross-border subsidiaries of an institution are authorised in third countries, a college should be set up pursuant to Article 116(1a) of Directive 2013/36/EU, in order to coordinate information sharing and supervisory activities in going concern and emergency situations, and to establish the written coordination and cooperation arrangements. In this case, notably the supervisory authorities of all third countries where institutions are authorised must be invited to become observer of the supervisory college. On the contrary, colleges established on the basis of Article 116(1) should only invite supervisory authorities of third countries where institutions, that are deemed important for the group, are authorised. In any case, when third-coun￾try supervisory authorities are requested to become observers of the supervisory col￾lege, they should be subject to confidentiality requirements equivalent to those of the EU. (6) Delegated Regulation (EU) 2016/98 should also take into account Regulation (EU) 2019/2033 of the European Parliament and the Council that amended the definition Regulation (EU) 2019/876
of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (OJ L 150, 7.6.2019, p. 1..) 6 Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures (OJ L 150, 7.6.2019, p. 253.)

of institution applicable in Directive 2013/36/EU, excluding investment firms from it. Where Article 1(2) or 1(5) of that Regulation applies, investment firms are how￾ever supervised for compliance with prudential requirements under Titles VII and VIII of Directive 2013/36/EU. Therefore, reference to “institution” shall be under￾stood as including investment firms to which Article 1(2) or 1(5) of Regulation (EU) 2019/2033 7 applies. (7) Under Article 21 of Regulation (EU) 1093/2010 8 , the EBA monitors the functioning of supervisory colleges to foster convergence and consistency in the application of Regulation (EU) 575/2013 and Directive 2013/36/EU, as well as Delegated Regula￾tion (EU) 2016/98 and Implementing Regulation (EU) 2016/99 9 . The results of the EBA’s monitoring concluded that aspects of the operational arrangements of the su￾pervisory college, for example, concerning the regular exchange of the early warning indicators, or the cooperation with the resolution authorities or the AML/CFT author￾ities, still require further strengthening. Therefore, the results of such monitoring have been taken into account and the role of the supervisory college as a tool for infor￾mation exchange among members have been enhanced, as well as its cooperation and coordination with observers, including other sectoral colleges. (8) It has been specified that, in case of identification of early warning signs, potential risks and vulnerabilities for the group and its entities, including any event of adverse material effect on the risk profile of the group or its entities thereof or the imposition of early intervention measures; or for the system in which they operate, and in case of emergency situations, an enhanced information exchange should be performed in the college. (9) To enhance the cooperation and information exchange between the prudential super￾visors and other authorities involved in the supervision of a group, and ensure the sharing of information for the fulfilment of each other`s tasks, the group-level reso￾lution authority, the lead supervisor of the AML/CFT college, the supervisory author￾ities of third countries where important institutions or branches are established and the supervisory authority where a second intermediate EU parent undertaking is es￾tablished, or the coordinator of the financial conglomerate, if that is different from the consolidating supervisor and when they are identified by the consolidating supervisor, notably, should be requested to become observers in the supervisory college. This status of observer opens up the possibility for these authorities to be invited to college meetings, when their presence is deemed relevant considering the agenda of the meet￾ing. Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (OJ L 314,
5.12.2019, p. 1). Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331 15.12.2010, p. 12). Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21).

(10) The attendance of observers at a supervisory college meeting, or participation in a particular agenda item should depend on the topics to be discussed or addressed. The consolidating supervisor should decide what information is relevant for the observers and involve the observers in the relevant college meeting or activity accordingly. When a topic discussed at a meeting is related to the group recovery planning or other item that impacts the resolvability of a group, the group-level resolution authority should be invited. When appropriate, the consolidating supervisor should involve the group-level resolution authority in the information exchange and assessment of the situation. (11) The consolidating supervisor may request some authorities, other than members, to become observers of the supervisory college. If they accept the request, their attend￾ance at each supervisory college meetings should be decided by the consolidating supervisor depending on the items to be discussed or addressed at that particular meet￾ing. (12) Supervisory college members should discuss and agree on the scope and level of in￾volvement of observers, if any. To enhance the cooperation and information exchange with the observers, including with the group-level resolution authority and the AML/CFT lead supervisor where relevant, the written coordination and cooperation arrangements should describe the framework for cooperation and information to be exchanged with each one of them. The written arrangements should also cover agree￾ments between college members involved in specific college activities, such as those performed through specific substructures of the supervisory college. (13) To promote collaboration within the supervisory college and to contribute to increase the effectiveness and efficiency of the group supervision, the consolidating supervisor and the members of the supervisory college shall discuss, and on a voluntary basis, agree on entrustment of tasks and, delegation of responsibilities, where that is rele￾vant. (14) Each supervisory college should decide on the exact sets of information to be ex￾changed and periodically updated, listing them in the written coordination and coop￾eration agreement. On this basis, supervisory college members and, where relevant, observers should exchange the values of quantitative and qualitative indicators regu￾larly to enhance the supervisory college’s capacity to identify increasing risks and vulnerabilities. Furthermore, the written coordination and cooperation arrangements should provide for the processes for coordinating the relevant input, as well as the responsibilities and role of the consolidating supervisor in communicating that input to observers. In addition and in order to ensure that information exchange is triggered between the consolidating supervisors and the members of the supervisory college when the group or its entities are impacted by an event of adverse material effect, it is requested that the
consolidating supervisor and the members of the college describe the main characteristics of such event in the written coordination and cooperation arrangement, taking into account the specificities of the group, and agree on the set of information that shall be exchanged, if such event materialises. (15) For the purpose of collecting and sharing the relevant information within the college, college members should exchange all information necessary to facilitate the exercise

of the tasks of the college included in Article 112 and 113 of Directive 2013/36/EU.
For the same purpose, the consolidating supervisor should share with the members of the supervisory college information received from the college, set up in accordance with Article 119(1) of Regulation (EU) 2023/1114 (MiCAR) 10 , when this information is relevant for the performance of the tasks included in Article 112 of Directive 2013/36/EU, notably for the planning and coordination of supervisory activities and in Article 113 of that Directive, notably for performing the group risk assessment and reaching joint decisions. (16) Given the several amendments to be made, Delegated Regulation 2016/98 should be repealed and replaced in the interest of clarity. Therefore, references to that Delegated Regulation 2016/98 should be construed as references to this Regulation. (17) This Regulation is based on the draft regulatory technical standards submitted by the European supervisory authority (European Banking Authority) (EBA) to the Com￾mission. (18) The EBA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010. HAS ADOPTED THIS REGULATION:
CHAPTER 1
GENERAL PROVISIONS
Article 1
Subject matter
This Regulation specifies the general conditions of functioning of the college of su￾pervisors (‘supervisory college’) formed in accordance with Article 116 and Article 51(3) of Directive 2013/36/EU.
Article 1a
Definitions
For the purposes of this Regulation, the following definitions apply:
(1) ‘AML/CFT authority’ means an authority entrusted with the public duty to ensure 10 Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150, 9.6.2023, p. 40).

compliance with Directive (EU) 2015/849 11;
(2) ‘AML/CFT college’ means a college established for the purpose of facilitating co￾operation between AML/CFT authorities.
CHAPTER 2
CONDITIONS REGARDING THE FUNCTIONING OF SUPERVISORY COLLEGES FORMED IN ACCORDANCE WITH ARTICLE 116 OF DIRECTIVE 2013/36/EU
SECTION 1
Establishment and functioning of supervisory colleges
Article 2
Establishment of the mapping of a group of institutions

1. For the purpose of identifying the members and potential observers of the supervisory
   college, the consolidating supervisor shall establish the mapping of a group of institu￾tions in accordance with Article 2 of Implementing Regulation (EU) 20xx/xx 12 [PO Please insert the number of the new implementing regulation repealing Commission Im￾plementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21].
2. The mapping of a group of institutions shall result in the identification of the following
   group entities and branches:
   (a)institutions and branches established in a Member State, including financial hold￾ing companies or mixed financial holding companies approved in accordance with
   Article 21a of Directive 2013/36/EU;
   (b) financial sector entities authorised in a Member State; 11 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73.) 12 [PO Please insert the new title of the CIR repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21)].

(c) institutions and branches established in a third country.
3. The mapping for each institution or branch established in a Member State shall reflect the
following information:
(a) the Member State where the institution is authorised or the branch is estab￾lished; (b) the competent authority responsible for the supervision of the institution or the competent authority of the host Member State where the branch is established as well as other financial sector authorities of that Member State, such as competent authorities responsible for the supervision of markets in financial instruments, the prevention of the use of the financial system for the purpose of money laun￾dering and terrorist financing, or consumer protection; (c) information as to whether the institution is subject to prudential supervision on an individual basis or whether it has been granted a waiver from the application of requirements set out in Parts Two to Eight of Regulation (EU) No 575/2013 of the European Parliament and of the Council 13 on an individual basis pursuant to Articles 7, 8, or 10 of that Regulation; (d) information relating to the importance of the institution for the Member State where it is authorised and the relevant criteria used by the competent authorities to determine this importance, in particular the size of the institution relative to the local market in terms of total assets and off-balance sheet items, if the market share of the institution in terms of deposits, exceeds 2% of the Member State where it is authorised or the likely impact of a suspension or closure of the oper￾ations of the institution on systemic liquidity, the payment, clearing and settle￾ment systems in the Member State where it is authorised and the result of the assessment of systemic importance under Article 131(3) of Directive 2013/36/EU 14; as well as information on the importance of that institution for the group, provided that the total amount of assets and off-balance sheet items of that institution exceeds 1 % of the group's total assets and off-balance sheet items on consolidated basis; (e) information relating to the importance of the branch for the Member State where it is established, in particular whether this branch has been designated or is pro￾posed to be designated as significant in accordance with Article 51 of Directive 2013/36/EU, as well as information on the importance of that branch for the group, provided that the total amount of assets and off-balance sheet items of that branch exceeds 1 % of the group's total assets and off-balance sheet items on consolidated basis. 13 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 14 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176 27.6.2013, p. 338).

4. The mapping for each financial sector entity, institution or branch referred to in para￾graph 2, points (b) and (c) shall reflect the following information:
(a) the Member State where the financial sector entity is established or the third country where the institution or the branch is established; (b) the authority responsible for or involved in the supervision of that financial sector entity, institution or branch; (c) information on the importance of the financial sector entity, of the institution or of the branch for the group, provided that the total amount of assets and off-bal￾ance sheet items of that financial sector entity, institution or branch exceeds 1 % of the group's total assets and off-balance sheet items on consolidated basis.
5. The mapping of the group of institutions shall reflect:
(a) where Article 116(1a) of Directive 2013/36/EU applies, whether the head offices of all the cross-border subsidiaries of an EU parent institution or of an EU parent financial holding company or of an EU parent mixed financial holding company are authorised in third countries; (b) where Article 21b of Directive 2013/36/EU applies, whether one intermediate or two intermediate EU parent undertakings have been established in the Union.
Article 3
Request to become members and observers of a supervisory college
1. The consolidating supervisor shall request the following authorities to become mem￾bers of the supervisory college:
(a) the competent authorities responsible for the supervision of institutions which are subsidiaries of an EU parent institution and the competent authorities of host Member States where significant branches as referred to in Article 51 of Di￾rective 2013/36/EU are established; (b) the ESCB central banks of Member States that are involved in accordance with their national law in the prudential supervision of the legal entities referred to in point a), but which are not competent authorities; (c) the EBA.
2. The consolidating supervisor shall request the following authorities to become observers
of the supervisory college in accordance with the process determined in Article 3(1) of Implementing Regulation (EU) 20xx/xx [PO Please insert the number of the new im￾plementing regulation repealing Commission Implementing Regulation (EU) 2016/99

of 16 October 2015 laying down implementing technical standards with regard to de￾termining the operational functioning of the colleges of supervisors according to Di￾rective 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21]:
(a) for the purpose of colleges established under Article 116(1), supervisory author￾ities of third countries where institutions or branches are established, that are deemed important as set out in Article 2(4)(c), provided that the third countries' supervisory authorities are subject to confidentiality requirements laid down in
Article 116 of Directive 2013/36/EU;
(aa) for the purpose of colleges established under Article 116(1a), supervisory au￾thorities of third countries where institutions are authorised, or branches, that are deemed important, as set out in Article 2(4)(c) are established, provided that the third countries` supervisory authorities are subject to confidentiality require￾ments laid down in Article 116 of Directive 2013/36/EU. (b) the group-level resolution authority; (c) the lead supervisor of the AML/CFT college; (d) where a second intermediate EU parent undertaking has been established in ac￾cordance with Article 21b (3), second subparagraph of the Directive 2013/36/EU, the consolidating supervisor, or the group supervisor as defined in Article 3(1) point 15 of Regulation 2019/2033 15 of that second college. (e) in the case of a financial conglomerate, the coordinator referred to in Article 11 (1) of Directive 2002/87/EC 16, when different from the consolidating supervisor.
3. The consolidating supervisor may request the following authorities to become observers
of the supervisory college in accordance with the process determined in Article 3(1) of Implementing Regulation (EU) 20xx/xx [PO Please insert the number of the new imple￾menting regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21]. (a) the competent authorities of host Member States where non-significant branches are established (b) the supervisory authorities of third countries where institutions or branches are 15 Regulation (EU) 2019/2033 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU of 27 November 2019 (OJ L 314/64, 5.12.2019). 16 Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1)

established, other than the authorities referred to in Article 3(2)(a) and (aa).
(c) the public authorities or bodies in a Member State, which are responsible for or involved in the supervision of a group entity or branch, including the AML/CFT authority of host Member States, or authorities responsible for the supervision of markets in financial instruments, or consumer protection and authorities respon￾sible for the prudential supervision of the group's financial sector entities, pro￾vided that the competent authority of the same host Member State has accepted to become a member or observer of the supervisory college. (d) resolution authorities of host Member States, provided that the competent author￾ity of the same host Member State has accepted to become a member or observer of the supervisory college.
Article 4
Communication of the setting up and composition of a supervisory college The consolidating supervisor shall communicate to the EU parent undertaking of the group the establishment of a college and the identity of its members and observers, as well as any changes in that composition.
Article 5
Establishment of the written coordination and cooperation arrangements The written coordination and cooperation arrangements referred to in Article 115 of Directive 2013/36/EU shall include at least the following:
(a) information on the overall structure of the group covering all group entities and branches; (b) identification of the members and observers of the supervisory college; (c) a description of the terms covering the participation of observers in the su￾pervisory college as referred to in Article 3(2) and 3(3) and having regard to
Article 17, including their involvement in college meetings and activities, and
in emergency situations, and their rights and obligations with regard to the information to be exchanged and the relevant process for information ex￾change between the consolidating supervisor and the observers; and the dis￾semination of the information received from the observers towards supervi￾sory college members; (d) a description of the arrangements for exchanging information including their scope, frequency and secure channels of communication;

(e) a description of the arrangements for the treatment of confidential infor￾mation; (f) a description of the arrangements on entrustment of tasks and on delegation of responsibilities, where relevant; (g) a description of any substructures of the college; (h) a description of the framework for the planning and coordination of supervi￾sory activities in going concern situations; (i) a description of the framework for the planning and coordination of supervi￾sory activities in preparation for and during emergency situations, including contingency planning, communication tools and procedures; (j) a description of the communication policy of the consolidating supervisor and the members of the supervisory college with the EU parent undertaking and with the group entities or significant branches; (k) agreed procedures and deadlines to be followed for the circulation of the meeting documents; (l) any other agreement between the college members, including agreed indica￾tors for identifying the early warning signs, potential risks and vulnerabilities; (m)a description of the framework for providing input to the consolidating su￾pervisor in accordance with Articles 12, 13, 16, 18, 45h, 91 and 92 of Di￾rective 2014/59/EU 17 , and without restriction for the purposes of the consul￾tation process referred to in these Articles; (n) a description of the role of the consolidating supervisor in particular with re￾gard to coordinating the provision of the input referred to in point (m) of this
Article through the group-level resolution authority to the relevant resolution
college;
(o) provisions covering arrangements where a member or an observer terminates its participation in the college; (p) a description of the characteristics of an event of adverse material effect on the risk profile of the group and its entities, taking into account the specifici￾ties of the group, and the set of information that shall be exchanged, as agreed by the consolidating supervisor and the members of the supervisory college, if such event materialises. 17 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173 12.6.2014, p. 190).

Article 6
Participation in supervisory college meetings and activities
1. When deciding which authorities shall participate in a supervisory college meeting
or activity in accordance with Article 116(7) of Directive 2013/36/EU, the consolidat￾ing supervisor shall take into account the following:
(a) the topics to be discussed and the objective of the meeting or activity, in partic￾ular with regard to their relevance for each group entity and for the performance of the tasks of the observers; (b) the importance of the group entity for the Member State where the group entity is established, and its importance for the group.
2. The consolidating supervisor may invite the observers of the supervisory college only to
specific agenda items of a meeting or activity, that are relevant for the performance of the tasks of the observer.
3. The consolidating supervisor and the members of the supervisory college shall ensure
that the most appropriate representatives participate in the supervisory college meetings or activities, based on the topics discussed and objectives pursued. Those representatives shall have the power to commit their authorities as members of the supervisory college, to the maximum extent possible, for the decisions planned to be taken during the meet￾ings or activities.
4. The consolidating supervisor may invite representatives of group entities to participate
in a supervisory college meeting or activity, based on the topics and objectives of the meeting or activity.
Article 7
Entrustment of tasks and delegation of responsibilities
1. When developing the examination programme of the supervisory college pursuant to
Article 16, and updating it where necessary, the consolidating supervisor and the mem￾bers of the supervisory college shall exchange views on possible entrustment of tasks
and delegation of responsibilities. On this basis they shall consider to conclude an agree￾ment, on a voluntary basis, on entrustment of tasks, including any possible delegation of responsibilities, where that is relevant, pursuant to Article 116(1)(b) of Directive 2013/36/EU, if such entrustment or delegation is expected to lead to more efficient and effective supervision of the group, in particular by removing unnecessary duplication of supervisory requirements, including those in relation to information requests.
2. The conclusion of an agreement on entrustment of tasks or delegation of responsibilities
shall be notified by the consolidating supervisor to the EU parent undertaking, and by the competent authority, which delegates its powers, to the institution concerned.

3. If no agreement could be reached between the consolidating supervisor and the mem￾bers of the supervisory college on the proposed tasks for entrustment or delegation of
responsibilities pursuant to paragraph (1) of this Article, the EBA shall be informed ac￾cordingly.
Article 8
Exchange of information between the members of the supervisory college and a group of institutions
1. The consolidating supervisor and each member of the supervisory college shall be re￾sponsible for communicating to and requesting information from the institutions and
branches under their supervisory remit.
2. When, exceptionally, the consolidating supervisor or a member of the college intends to
communicate to or request information from an institution or a branch outside its super￾visory remit, it shall inform in advance the member of the supervisory college responsi￾ble for it.
SECTION 2
Planning and coordination of supervisory activities in going concern situations
Article 9
General conditions with regard to exchange of information between the consolidating supervisor and the members of the supervisory college
1. The consolidating supervisor and the members of the supervisory college shall exchange
all information necessary to facilitate the exercise of the tasks referred to in Articles 112 and 113 of Directive 2013/36/EU, subject to the confidentiality requirements laid down in Section II of Chapter 1 in Title VII of that Directive, and where applicable, Articles 76 and 81 of Directive 2014/65/EU of the European Parliament and of the Council 18 .
2. The consolidating supervisor and the members of the supervisory college shall also ex￾change all information necessary to facilitate the exercise of the tasks referred to in Ar￾ticle 8 of Directive 2014/59/EU.
3. The consolidating supervisor and the members of the supervisory college shall exchange
the information referred to in paragraphs 1 and 2, whether received from a group entity, a competent or supervisory authority or any other source, and in accordance with Article 7 of the Implementing Regulation (EU) 20xx/xx[PO Please insert the number of the new implementing regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to deter￾mining the operational functioning of the colleges of supervisors according to Directive 18 Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (OJ L 173 12.6.2014, p. 349).

2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21].
That information shall be sufficiently adequate, accurate and timely.
4. The consolidating supervisor shall communicate to the members of the college:
(a) the name of the deposit-guarantee scheme to which the institution, and its branches, belongs in accordance with Article 4(3) of Directive 2014/49/EU of the European Parliament and Council 19; (b) the maximum coverage of the deposit-guarantee scheme per eligible depositor; (c) the scope of coverage and the types of deposits covered; (d) any exclusion from the coverage, including products and types of depositors; (e) funding arrangements of the deposit guarantee scheme, in particular whether the scheme is funded ex-ante or ex-post and the volume of the scheme; (f) contact details of the administrator of the scheme.
5. The college members who supervise significant branches shall provide the consolidating
supervisor with information on any obstacles to cash and collateral transfer to or from the branch.
6. Where there is a change in the information provided on the ground of this Article, the
consolidating supervisor and the member of the college shall exchange updated infor￾mation without undue delay.
Article 10
Information exchange on the outcome of the supervisory review and evaluation process for performing group risk assessments and reaching joint decisions

1. For the purposes of joint decisions on institution-specific prudential requirements as re￾ferred to in Article 113 of Directive 2013/36/EU, the consolidating supervisor and the
   relevant members of the supervisory college shall exchange in a timely manner all infor￾mation necessary, at both individual and consolidated level, to reach a joint decision.
2. In particular, the consolidating supervisor and the members of the supervisory college
   shall exchange information on the outcomes of the supervisory review and evaluation process performed in accordance to Article 97 of Directive 2013/36/EU. This infor￾mation shall provide the outcome of the assessment, at least, of the following elements:
   (a) business model analysis, including the assessment of the viability of current business model and sustainability of institution's forward-looking business 19 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast) (OJ L 173 12.6.2014, p. 149).

strategy;
(b) internal governance arrangements and institution-wide controls; (c) individual risks to institution's capital, covering the following elements:
(i) inherent individual risks;
(ii) risk management and controls;
(d) capital adequacy assessment and the assessment of the risk of excessive leverage, including proposed required own funds pursuant to Article 104(1)(a) of Di￾rective 2013/36/EU; (e) risks to institution's liquidity and funding, covering the following elements:
(i) liquidity risk and funding risk;
(ii) liquidity and funding risk management;
(f) liquidity adequacy assessment, including proposed quantitative and qualitative li￾quidity measures pursuant to Article 105 of Directive 2013/36/EU; (g) other supervisory measures, including pursuant to Article 102 of Directive 2013/36/EU, or early intervention measures taken or planned to be taken in order to address the inefficiencies identified as a result of the supervisory review and evaluation process; (h) results of the supervisory stress tests performed pursuant to Article 100 of Di￾rective 2013/36/EU, including capital adequacy in stressed conditions and any pro￾posed guidance on additional own funds in accordance with Article 104b of Di￾rective 2013/36/EU; (i) findings from on-site inspections and off-site monitoring that are relevant for the assessment of the risk profile of the group or any of its entities.
Article 11
Information exchange with regard to the ongoing review of the permission to use internal approaches and non-material extensions or changes in internal models

1. For the purposes of ensuring coherence and coordination with regard to the ongoing re￾view of the permission to use internal approaches asreferred to in Article 101 of Directive
   2013/36/EU, the consolidating supervisor and the relevant members of the supervisory college, who supervise institutions that have been granted permission to use internal ap￾proaches in accordance with Articles 143(1), Article 151(4) or (9), Article 283, Article 312(2), or Article 363 of Regulation (EU) No 575/2013, shall exchange all information on the outcome of this ongoing review and all other relevant information.

2. Where the consolidating supervisor or any relevant member of the supervisory college
   referred to in paragraph 1 has identified that an institution established in a Member State, including the EU parent undertaking, no longer meets all requirements for applying an internal approach or has identified weaknesses in accordance with Article 101 of Di￾rective 2013/36/EU, they shall immediately exchange the following information, as ap￾plicable, for the purposes of facilitating the reach of common agreement as referred to in
   Article 9 of the Implementing Regulation (EU) 20xx/xx[PO Please insert the number of
   the new implementing regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21]:
   (a) assessment of the effect of the weaknesses identified and issues of non-com￾pliance and their materiality; (b) assessment of the plan to restore compliance and to address the weaknesses iden￾tified as presented by the EU parent institution or any institution established in a Member State, including information on the timeline for its implementation; (c) information on the intention of the consolidating supervisor or of any relevant member of the supervisory college to revoke the permission or restrict the use of the model to compliant areas or those where compliance can be achieved within an appropriate timeline, or those areas that are not affected by the weaknesses identified; (d) information on any proposed additional own funds requirements pursuant to Ar￾ticle 104(2)(d) of Directive 2013/36/EU as a supervisory measure to address the issues of non-compliance or weaknesses identified.

3. The consolidating supervisor and the relevant members of the supervisory college re￾ferred to in paragraph 1 shall also exchange information regarding extensions or changes
   in these internal models which are not material model extensions or changes, as referred to in Article 13 of Implementing Regulation (EU) 2016/100 20 .

4. Information referred to in paragraphs 1 and 2 shall be discussed and taken into account
   while developing the group risk assessment and reaching a joint decision in accordance with Article 113(1)(a) of Directive 2013/36/EU.

5. The consolidating supervisor shall inform the competent authorities of the host Mem￾ber States where significant branches are established on the information referred to in
   paragraph 1 and 2, if that is relevant to them.
   Article 12
   20 Commission Implementing Regulation (EU) 2016/100 of 16 October 2015 laying down implementing technical standards specifying the joint decision process with regard to the application for certain prudential permissions pursuant to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 45).

Information exchange on early warning signs, potential risks and vulnerabilities

1. The consolidating supervisor and the members of the supervisory college participating in
   the development of a group risk assessment report referred to in Article 113(2)(a) of Di￾rective 2013/36/EU or a group liquidity risk assessment report referred to in Article 113(2)(b) of that Directive for the purposes of reaching joint decisions on institution￾specific prudential requirements in accordance with that Article shall exchange quantita￾tive information aiming to identify early warning signs, potential risks and vulnerabilities and to inform the group risk assessment report and group liquidity risk assessment report. For this purpose, the consolidating supervisor and the members of the supervisory col￾lege should agree on a list of indicators to be exchanged regularly.
2. The information referred to in paragraph 1 shall be developed based on the information
   collected by the competent authorities in accordance with Implementing Regulation (EU) No 2021/451 21 , in order to ensure consistency and comparability on the data used. This information shall cover at least all group entities established in a Member State, and at least the following areas:
   a) capital and leverage; b) liquidity; c) asset quality; d) funding; e) profitability; f) concentration risk.
3. For the purpose of identifying risks and vulnerabilities for the group or its entities, the
   consolidating supervisor and the members of the supervisory college shall also exchange qualitative and quantitative information on:
   a) the macroeconomic environment in which the group of institutions and its group entities operate; b) adverse developments in markets, which may have the potential to jeopardise the market liquidity and the stability of the financial system in the Member States where entities of a group or significant branches are established and may adversely impact the entities of the group or its significant branches.
4. When a group entity infringes or, due, inter alia, to a rapidly deteriorating financial con￾dition, is likely in the near future to infringe the requirements of Regulation (EU) No
   575/2013 or Directive 2013/36/EU as referred to in Article 27(1) of Directive 21 Commission Implementing Regulation (EU) 2021/451 of 17 December 2020 laying down implementing technical stand￾ards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to supervisory reporting of institutions and repealing Implementing Regulation (EU) No 680/2014 (OJ L 97, 19.3.2021, p. 1– 1955).

2014/59/EU, the consolidating supervisor or the members of the supervisory college shall inform each other whether conditions for application of early intervention measures are met and whether early intervention measures for the group or any of the group entities are taken or planned to be taken in accordance with Article 27 and 30 of Directive 2014/59/EU and the potential consequences.
5. The consolidating supervisor shall inform the competent authorities of the host Member
States where significant branches are established on the information referred to in para￾graph 1 to 3, if that is relevant to them.
Article 13
Information exchange with regard to non-compliance and sanctions and other corrective measures

1. The consolidating supervisor shall communicate to the members of the supervisory col￾lege information regarding any situations in respect of which it has determined that an
   EU parent institution, on individual or consolidated level, under its supervisory remit has not complied with requirements laid down in Regulation (EU) No 575/2013 and Di￾rective 2013/36/EU or have been imposed administrative penalties or other administra￾tive measures applied in accordance with Articles 64 to 67 of Directive 2013/36/EU when this information affects or is likely to affect the risk profile of the group entities.
2. The members of the supervisory college shall communicate to the consolidating super￾visor information regarding any situations in respect of which the members of the super￾visory college have determined that an institution or a branch under their supervisory
   remit has not complied with requirements laid down in Regulation (EU) No 575/2013 and Directive 2013/36/EU or have been imposed administrative penalties or other ad￾ministrative measures applied in accordance with Articles 64 to 67 of Directive 2013/36/EU when thisinformation affects or is likely to affect the risk profile of the group or any of its group entities. The consolidating supervisor shall decide to communicate the relevant information to the members of the supervisory college for whom this infor￾mation is deemed relevant in accordance with Article 7 of Implementing Regulation (EU) 20xx/xx [PO Please insert the number of the new implementing regulation repeal￾ing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational func￾tioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21].
3. The consolidating supervisor and the members of the supervisory college shall discuss
   the possible impact of these issues of non-compliance and sanctions referred to in para￾graph 1 and 2 for the group entities or for the group as a whole.
   Article 14

Information exchange for the assessment of the group recovery plan
1. The consolidating supervisor and the members of the supervisory college shall exchange
all information necessary for those who participate in the process of joint decision on the elements referred to in Article 8(2) of Directive 2014/59/EU.
2. For the purposes of paragraph 1, the consolidating supervisor shall provide the group
recovery plan to the members of the supervisory college following the procedure specified in Article 7 of Implementing Regulation (EU) 20xx/x [PO Please insert the number of the new implementing regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21].
3. The consolidating supervisor shall ensure that all members of the supervisory college are
appropriately informed of the outcome of the process referred to in paragraph 1.
Article 15
Information exchange with regard to group financial support agreements The consolidating supervisor shall ensure that all members of the supervisory college are appropriately informed of the main terms of authorisations of group financial support agree￾ments that have been granted in accordance with the joint decision process referred to in
Article 20 of Directive 2014/59/EU.
Article 16
Establishment and update of the examination programme of the supervisory college
1. For the purposes of establishing the examination programme of the supervisory
college in accordance with Article 116(1)(c) of Directive 2013/36/EU, the consolidating supervisor and the members of the supervisory college shall identify the supervisory ac￾tivities to be undertaken.
2. The examination programme of the supervisory college shall contain at least the fol￾lowing:
(a) the areas of joint work identified as a result of the group risk assessment and group liquidity risk assessment and joint decisions on institution-specific pruden￾tial requirements pursuant to Article 113 of Directive 2013/36/EU or as a result of any other college activities undertaken, including efforts to contribute to efficient supervision and to remove unnecessary duplication of tasks in accordance with
Article 116(1)(d) of that Directive;
(b) the respective supervisory examination programmes of the consolidating super￾visor and the members of the supervisory college for institutions and branches established in a Member State;

(c) the areas of focus of the college work and its planned supervisory activities, in￾cluding assessment of the implementation of group policies, planned off-site ac￾tivities and onsite inspections pursuant to Article 99(1)(c) of Directive 2013/36/EU; (d) the members of the supervisory college responsible for undertaking the planned supervisory activities; (e) the allocation of tasks for entrustment and delegation of responsibilities, where relevant; (f) where applicable, the observers of the supervisory college when they are in￾volved in a supervisory activity, (g) the expected timelines, both in terms of timing and duration, for each of the planned supervisory activities.
Article 17
Exchange of information between the consolidating supervisor and observers of the supervisory college

1. The consolidating supervisor shall consider whether the information referred to in Section
   2 is relevant for the performance of the tasks of the observers, and communicate such in￾formation to the relevant observers.
2. The consolidating supervisor shall provide the group-level resolution authority at least of
   the following:
   (a) the required own funds pursuant to Article 104(1), point (a) of Directive 2013/36/EU and any guidance on additional own funds communicated to institutions in accord￾ance with Article 104b of that Directive. (b) relevant information for the purposes of Articles 12, 13, 16, 18, 25, 30, 45h, 91 and 92 of Directive 2014/59/EU, (c) the timetable of the joint decision on the review and assessment of the group recovery plan in accordance with Article 8(2) of Directive 2014/59/EU, including a date for the group-level resolution authority to provide its recommendations, if any, in ac￾cordance to Article 6(4) of Directive 2014/59/EU. (d) the timetable of the joint decisions on institution-specific prudential requirements in accordance with Article 113 of Directive 2013/36/EU, (e) information referred to in Article 12(4) and in Article 15.
   Article 18

Event of adverse material effect on the risk profile of the group or its entities

1. The consolidating supervisor and the relevant members of the supervisory college shall
   exchange quantitative and qualitative information on adverse developments in institutions or in other entities of a group, which could seriously affect the institutions in accordance with Article 117 (1) (c) of Directive 2013/36/EU.
2. In case of such an event of adverse material effect on the risk profile of the group or its
   institutions established in a Member State, that are important as determined in accordance with Article 2(3) or its significant branches, competent authorities shall assess the conse￾quences on the group or its entities and determine:
   (a) the nature and severity of the event;
   (b) the impact or potential impact of the event on the available own funds and liquidity level of the group or its entities and whether they continue to comply with the re￾quirements laid down in Regulation (EU) No 575/2013 or Directive 2013/36/EU in adverse macroeconomic, microeconomic, and geopolitical conditions; (c) the ability to operate in severe business disruption; (d) risk of cross-border contagion.
3. Upon being alerted of an event of adverse material effect on the risk profile by any mem￾ber of the supervisory college or having identified such event, the consolidating supervi￾sor shall inform the members of the supervisory college who supervise group entities or
   significant branches that are affected or likely to be affected by the event, and the EBA.
   Observers, in particular the group-level resolution authority, shall be informed if the information is relevant for the performance of their tasks.
4. The consolidating supervisor and the members of the supervisory college who supervise
   group entities or significant branches that are affected or likely to be affected by the event of adverse material effect shall monitor the situation and update the information referred to in paragraph 1, where applicable, immediately when relevant new infor￾mation is available.
5. Depending on the nature, severity, potential systemic impact and likelihood of conta￾gion of the event of adverse material effect and its foreseen evolution, the consolidating
   supervisor and the relevant members of the supervisory college may coordinate the de￾velopment of a supervisory response.
   SECTION 3
   Planning and coordination of supervisory activities in preparation for and during emer￾gency situations

Article 19
Establishment of a college framework for emergency situations
1. The consolidating supervisor and the members of the supervisory college shall establish
a college framework in anticipation of possible emergency situations in accordance with
Article 112(1)(c) of Directive 2013/36/EU (hereinafter ‘college framework for emer￾gency situations’), taking into account the specificities and structure of the group of in￾stitutions.
2. The college framework for emergency situations shall include at least the following:
(a) the college-specific procedures that shall apply where an emergency situation as referred to in Article 114(1) of Directive 2013/36/EU arises; (b) the minimum set of information that shall be exchanged where an emergency situation as referred to in Article 114(1) of Directive 2013/36/EU arises.
3. The minimum set of information referred to in paragraph 2, point (b) shall include the
following:
(a) an outline of the situation that has occurred, including the underlying cause of the emergency situation, and the expected impact of the emergency situation on the group entities and the group as a whole, on the market liquidity and on the stabil￾ity of the financial system; (b) an explanation of the measures and actions that have been taken or are planned to be taken, by the consolidation supervisor or any of the members of the supervisory college or by the group entities themselves; (c) the latest available quantitative information regarding liquidity and capital posi￾tion of the group entities affected or likely to be affected by the emergency situ￾ation on an individual and consolidated basis.
Article 20
General conditions with regard to exchange of information during an emergency situation
1. The consolidating supervisor and the members of the supervisory college shall exchange
all information necessary to facilitate the exercise of the tasks referred to in Article 114(1) of Directive 2013/36/EU, subject to the confidentiality requirements laid down in Section II of Chapter 1 of Title VII of that Directive, and where applicable, Articles 76 and 81 of Directive 2014/65/EU.
2. Upon being alerted of an emergency situation by any member or observer of the college
or having identified an emergency situation, the consolidating supervisor shall communi￾cate the information referred to in Article 19(2)(b), following the procedures referred to

in Article 19(2)(a), to the members of the supervisory college who supervise group enti￾ties or significant branches that are affected or likely to be affected by the emergency situation, and the EBA.
3. Depending on the nature, severity, potential systemic impact or other impact, and likeli￾hood of contagion of the emergency situation, the members of the supervisory college
who supervise group entities or significant branches that are affected or likely to be af￾fected by the emergency situation and the consolidating supervisor may decide to ex￾change additional information.
4. The consolidating supervisor shall consider whether the information referred to in para￾graphs 2 and 3 is relevant for the performance of the tasks of observers, and in particular
of the group-level resolution authority and communicate such relevant information to those observers.
5. The information referred to in paragraphs 2 and 3, where applicable, shall be updated im￾mediately when new information is available.
6. When the exchange of information or communication referred to in this Article is made
orally, the concerned competent authorities shall follow up it with written communica￾tion in a timely manner.
Article 21
Coordination of the supervisory assessment of an emergency situation

1. Where an emergency situation occurs, the consolidating supervisor shall coordinate the
   assessment of the emergency situation (hereinafter ‘coordinated supervisory assess￾ment’) in cooperation with the members of the supervisory college who supervise group entities or significant branches that are affected or likely to be affected by that emergency situation.
2. The coordinated supervisory assessment of the emergency situation, performed in ac￾cordance with Article 16 of Implementing Regulation (EU) 20xx/xx[PO Please insert
   the number of the new implementing regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of su￾pervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21], shall cover at least the following elements:
   (a) the nature and severity of the emergency situation; (b) the impact or potential impact of the emergency situation on the group as a whole and on any of its affected or likely to be affected group entities; (c) the risk of cross-border contagion.
3. When assessing paragraph 2, point (c), the consolidating supervisor shall consider the
   potential systemic consequencesin any of the Members States where entities of the group or significant branches are established.

Article 22
Coordination of the supervisory response to an emergency situation
1. Where an emergency situation occurs, the consolidating supervisor shall coordinate the
development of a supervisory response to the emergency situation (hereinafter ‘coordi￾nated supervisory response’ in cooperation with the members of the supervisory college who supervise group entities or significant branches that are affected or likely to be af￾fected by that emergency situation.
2. The coordinated supervisory assessment referred to in Article 21 shall form the basis of
the coordinated supervisory response, which shall define the supervisory actions needed, their scope, and the timetable for their implementation.
3. The coordinated supervisory response shall be developed by the consolidating supervisor
and the members of the supervisory college who supervise group entities or significant branches that are affected or likely to be affected by the emergency situation and shall take into account input from the resolution college relevant for the management of the emergency situation for the group, provided via the group-level resolution authority.
Article 23
Monitoring of the implementation of the coordinated supervisory response to an emergency situation
1. The consolidating supervisor and the members of the supervisory college who supervise
group entities or significant branchesthat are affected or likely to be affected by the emer￾gency situation shall monitor and exchange information on the implementation of the coordinated supervisory response referred to in Article 22.
2. The information to be exchanged shall include at least an update on the implementation
of the agreed actions within the foreseen timeline, as referred to in Article 22(2), and the need to update or adjust these actions.
Article 24
Coordination of external communication in an emergency situation
1. The consolidating supervisor and the members of the supervisory college who supervise
group entities or significant branchesthat are affected or likely to be affected by the emer￾gency situation shall coordinate to the extent possible their external communications.
2. For the purpose of coordinating external communication, the consolidating supervisor
and the members of the supervisory college shall agree on the following elements:
(a) the allocation of responsibilities for coordinating external communication at the different stages of the emergency situation;

(b) the level of information to be disclosed taking into account the need to maintain market confidence and any other additional disclosure obligations where finan￾cial instruments issued by group entities affected or likely to be affected by the emergency situation are publicly traded in one or more regulated markets in the Union; (c) the coordination of public statements, including those made by only one member of the supervisory college, in particular where these are likely to have conse￾quences for group entities or significant branches supervised by other members of the supervisory college; (d) the allocation of responsibilities and appropriate timing for contacting group entities; (e) the allocation of responsibilities and actions to be taken for communicating ex￾ternally the coordinated actions taken to address the emergency situation; (f) a description of possible coordination with another group or college that may be involved in dealing with an emergency situation affecting the group, such as a crisis management group or a resolution college.
CHAPTER 3
CONDITIONS REGARDING THE FUNCTIONING OF SUPERVISORY COLLEGES FORMED IN ACCORDANCE WITH ARTICLE 51(3) OF DIRECTIVE 2013/36/EU
SECTION 1
Establishment and functioning of supervisory colleges
Article 25
Designation of the members and observers of a supervisory college

1. Following the performance of the mapping of the institution with branches in other Mem￾ber States pursuant to Article 2 of Implementing Regulation (EU) 20xx/xx[PO Please
   insert the number of the new implementing regulation repealing Commission Imple￾menting Regulation (EU) 2016/99 of 16 October 2015 laying down implementing tech￾nical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21], the competent authority of the home Member State shall request the following authorities to become members of the supervisory college:
   (a) the competent authorities of the host Member States where significant branches are established; (b) the ESCB central banks of Member States that are involved in accordance with

their national law in the prudential supervision of the significant branches re￾ferred to in point (a), but which are not competent authorities; (c) the EBA.
2. The competent authority of the home Member State shall request the following authori￾ties to become observers of the supervisory college in accordance with the process de￾termined in Article 3(1) of Implementing Regulation (EU) 20xx/xx[PO Please insert the
number of the new implementing regulation repealing Commission Implementing Reg￾ulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors ac￾cording to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21]:
(a) the supervisory authorities of third countries where institutions are authorised or branches, that are deemed important for the group, as set out in Article 2(4)(c) are established, provided that the third countries' supervisory authorities are sub￾ject to confidentiality requirements laid down in Articles 116 of Directive 2013/36/EU; (b) the resolution authority of the home Member State; (c) the AML/CFT authority of the home Member State; (d) where a second intermediate EU parent undertaking has been established in ac￾cordance with Article 21b (3), second subparagraph, of Directive 2013/36/EU the consolidating supervisor, or the group supervisor as defined in Article 3(1) point 15 of Regulation 2019/2033 22 of that second college. (e) in the case of a financial conglomerate, the coordinator referred to in Article 11 (1) of Directive 2002/87/EC 23, when different from the competent authority of the home Member State.
3. The competent authority of the home Member State may request the following authori￾ties to become observers of the supervisory college in accordance with the process deter￾mined in Article 3(1) of Implementing Regulation (EU) 20xx/xx[PO Please insert the
number of the new implementing regulation repealing Commission Implementing Reg￾ulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors ac￾cording to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21]:
22 Regulation (EU) 2019/2033 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU of 27 November 2019 (OJ L 314/64, 5.12.2019) 23 Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1)

(a) the competent authorities of host Member States where non-significant branches are established; (b) the supervisory authorities of third countries, other than the authorities referred to in point (2)(a) of this Article; (c) the public authorities or bodies in a Member State which are responsible for or involved in the supervision of the institution or its branches, including AML/CFT authority in a Member State or competent authorities responsible for the super￾vision of markets in financial instruments, or consumer protection, provided that the competent authority of the same host Member State has accepted to become a member or observer of the supervisory college; (d) resolution authorities of host Member States, provided that the competent author￾ity of the same host Member State has accepted to become a member or observer of the supervisory college.
Article 26
Communication of the setting up and composition of a supervisory college The competent authority of the home Member State shall communicate to the institution the establishment of a supervisory college and the identity of its members and observers, as well as any changes in that composition.
Article 27
Establishment of the written coordination and cooperation arrangements The establishment and functioning of supervisory colleges for significant branches formed in accordance with Article 51(3) of Directive 2013/36/EU shall be based on written coordi￾nation and cooperation arrangements to be determined in accordance with Article 5.
Article 28
Participation in supervisory college meetings and activities
1. When deciding which authorities shall participate in a college meeting or activity in ac￾cordance with Article 51(3) of Directive 2013/36/EU, the competent authority of the
home Member State shall take into account the following:
(a) the topics to be discussed and the objective of the meeting or activity, in partic￾ular with regards to their relevance for each branch and for the performance of the tasks of the observers (b) the importance of the branch in the Member State where it is established and its importance for the institution.

2. The competent authority of the home Member State may invite the observers of the su￾pervisory college only to specific agenda items of a meeting or activity, that are relevant
for the performance of the tasks of the observer.
3. The competent authority of the home Member State and the members of the supervisory
college shall ensure that the most appropriate representatives participate in the supervi￾sory college meetings or activities, based on the topics discussed and objectives pursued. Those representatives shall have the power to commit their authorities as members of the supervisory college, to the maximum extent possible, for the decisions planned to be taken during the meetings or activities.
4. The competent authority of the home Member State may invite representatives of the
institution to participate in a supervisory college meeting or activity, based on the topics and objectives of the meeting or activity.
Article 29
Communication with the institution and its branches The communication with the institution and its branches shall be organised according to the supervisory responsibilities given to the competent authority of the home Member State and the members of the college by Chapter 4 of Title V and Title VII of Directive 2013/36/EU.
SECTION 2
Planning and coordination of supervisory activities in going concern situations
Article 30
General conditions with regard to exchange of information between the competent authority of the home member state and members of the supervisory college
1. The competent authority of the home Member State and the members of the college shall
exchange all information necessary to facilitate the cooperation under Article 50 and
Article 51(2) of Directive 2013/36/EU.
2. The competent authority of the home Member State and the members of the college shall
also exchange all information necessary to facilitate the cooperation referred to in Arti￾cles 6, 7 and 8 of Directive 2014/59/EU.
3. The competent authority of the home Member State and the members of the supervisory
college shall exchange the information referred to in Articles 6 and 15 of the Delegated Regulation (EU) No 524/2014 24 . 24 Commission Delegated Regulation (EU) No 524/2014 of 12 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the information that competent authorities of home and host Member States supply to one another (OJ L 148, 20.5.2014, p. 6).

4. The competent authority of the home Member State and the members of the supervisory
college shall exchange the information referred to in paragraphs 1 to 3, whether received from the institution, a competent or supervisory authority or any other source. This in￾formation shall be sufficiently adequate, accurate and timely.
Article 31
Information exchange for the outcome of the supervisory review and evaluation process and on early warning signs, potential risks and vulnerabilities
1. The competent authority of the home Member State shall communicate to the members
of the supervisory college the information referred to in Article 3 to 5, Articles 7 to 13 and Article 17 of Delegated Regulation (EU) No 524/2014 and Article 429 of Regula￾tion (EU) No 575/2013 and the required own funds referred to in Article 104(1)(a) of Directive 2013/36/EU and any guidance on additional own funds in accordance with
Article 104b of that Directive as a result of the supervisory review and evaluation pro￾cess performed in accordance with Article 97 of Directive 2013/36/EU.
2. For the purpose of identifying risks and vulnerabilities for the institution and its significant
branches, the competent authority of the home Member State and the members of the supervisory college shall also exchange qualitative and quantitative information on:
a) the macroeconomic environment in which the institutions and its significant branches operate. b) adverse developments in markets, which may have the potential to jeopardise the mar￾ket liquidity and the stability of the financial system in the Member States where the institution or its significant branches are established and may adversely impact the in￾stitution and its significant branches.
3. When the institution infringes or, due, inter alia, to a rapidly deteriorating financial con￾dition, is likely in the near future to infringe the requirements of Regulation (EU) No
575/2013 or Directive 2013/36/EU as referred to in Article 27(1) of Directive 2014/59/EU, the competent authority of the home Member State shall inform the mem￾bers of the college whether conditions for application of early intervention measures are met and whether early intervention measures are taken or planned to be taken in accord￾ance with Article 27 and 30 of Directive 2014/59/EU and the potential consequences.
Article 32
Information exchange for the assessment of the recovery plan
1. The competent authority of the home Member State shall consult the members of the
supervisory college on the recovery plan in so far as is relevant to that branch, in accord￾ance with Article 6(2) of Directive 2014/59/EU.
2. For the purposes of paragraph 1, the competent authority of the home Member State shall
provide the recovery plan of the institution to the members of the supervisory college in accordance with Article 21 of Implementing Regulation (EU) 20xx/xx [PO Please insert

the number of the new implementing regulation repealing Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of su￾pervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21].
3. The competent authority of the home Member State shall ensure that all members of the
supervisory college are appropriately informed of the outcome of the process referred to in paragraph 1.
Article 33
Establishment and update of the examination programme of the supervisory college
1. For the purposes of establishing the examination programme of the supervisory college
referred to in Article 99 of Directive 2013/36/EU, the competent authority of the home Member State and the members of the supervisory college shall identify the supervisory activities to be undertaken.
2. The examination programme of the supervisory college shall contain at least the fol￾lowing:
(a) the areas of joint work identified as a result of the supervisory review and evalu￾ation process pursuant to Article 97 of Directive 2013/36/EU or as a result of any other college activities undertaken; (b) the areas of focus of the college work and its planned supervisory activities, including planned on-the-spot checks and inspections of the significant branches pursuant to Article 52(3) of Directive 2013/36/EU; (c) the members of the supervisory college responsible for undertaking the planned supervisory activities; (d) the allocation of tasks for entrustment and delegation of responsibilities, where rel￾evant; (e) where applicable, the observers of the supervisory college when they are involved in a supervisory activity, (f) the expected timelines, both in terms of timing and duration, for each of the planned supervisory activities.
3. When developing the college supervisory examination programme, and updating it
where necessary, the competent authorities of the home Member State and the members of the college shall consider the possibility of agreements on voluntary entrustment of tasks and delegation of responsibilities, if such entrustment or delegation is expected to lead to more efficient and effective supervision of the group, in particular by removing unnecessary duplication of supervisory requirements, including those in relation to in￾formation requests.

4. The conclusion of an agreement on entrustment of tasks or delegation of responsibilities
shall be notified by the competent authorities of the home Member State to the institution concerned, and by the competent authority, which delegates its powers, to the branch concerned.
Article 34
Exchange of information between the competent authority of the home Member State and observers of the supervisory college
1. The competent authority of the home Member State shall in particular consider whether
the information referred to in Articles 31 is relevant for the performance of the tasks, of the observers, as described in the written coordination and cooperation arrangements of the supervisory college and communicate such information to the relevant observers.
2. For the purpose of effective and efficient coordination between the supervisory and res￾olution college, the resolution authority of the home Member State and the competent
authority of the home Member State shall exchange all information required to ensure that colleges fulfil their role set out in Article 51(3) of Directive 2013/36/EU and Article 88 of Directive 2014/59/EU.
3. The competent authority of the home Member State shall provide the resolution authority
of the home Member State at least
(a) the required own funds pursuant to Article 104(1), point (a) of Directive 2013/36/EU and any guidance on additional own funds communicated to institutions in accord￾ance with Article 104b of that Directive. (b) relevant information for the purposes of Articles 12, 13, 16, 18, 25, 30, 45h, 91 and 92 of Directive 2014/59/EU; (c) information referred to in Article 31(3).
Article 35
Event of adverse material effect on the risk profile of the institution or its significant branches
1. The competent authority of the home Member State and the relevant members of the su￾pervisory college shall exchange quantitative and qualitative information on adverse de￾velopments in the institution or its significant branches, which could seriously affect the
institution in accordance with Article 117 (1) (c) of Directive 2013/36/EU.
2. In case of such an event of adverse material effect on the risk profile of the institution or
its significant branches established in a Member State, competent authorities shall assess the consequences on the institution and its significant branches and determine (a) the nature and severity of the event,

(b) the impact or potential impact of the event on the available own funds and liquid￾ity level of the institution and its significant branches and whether it continue to comply with the requirements laid down in Regulation (EU) No 575/2013 or Di￾rective 2013/36/EU in adverse macroeconomic, microeconomic, and geopolitical conditions; (c) the ability to operate in severe business disruption (d) risk of cross-border contagion.
3. Upon being alerted of an event of adverse material effect on the risk profile by any mem￾ber of the supervisory college or having identified such event, the competent authority of
the home Member State shall inform the members of the supervisory college who super￾vise significant branches that are affected or likely to be affected by the event, and the EBA. Observers, in particular the resolution authority of the home Member State, shall be informed if the information is relevant for the performance of their tasks.
4. The competent authority of the home Member State and the members of the supervisory
college who supervise significant branches that are affected or likely to be affected by the event of adverse material effect shall monitor the situation and update the information referred to in paragraph 1, where applicable, immediately when relevant new information is available.
5. Depending on the nature, severity, potential systemic impact and likelihood of conta￾gion of the event of adverse material effect and its foreseen evolution, the competent
authority of the home Member State and the relevant members of the supervisory college may coordinate the development of a supervisory response.
SECTION 3
Planning and coordination of supervisory activities in preparation for and during emergency situations and final provisions
Article 36
Establishment of a college framework for emergency situations

1. The competent authority of the home Member State and the members of the supervisory
   college shall establish a college framework in anticipation of possible emergency situa￾tions in accordance with Article 112(1)(c) of Directive 2013/36/EU (hereinafter ‘college framework for emergency situations’).
2. The college framework for emergency situations shall include at least the following:
   (a) the college-specific procedures that shall apply where an emergency situation as referred to in Article 114(1) of Directive 2013/36/EU arises; (b) the minimum set of information that shall be exchanged where an emergency

situation as referred to in Article 114(1) of Directive 2013/36/EU arises.
3. The minimum set of information referred to in paragraph 2, point (b) shall include the
following:
(a) an outline of the situation that has occurred, including the underlying cause of the emergency situation, and the expected impact of the emergency situation on the institution, on the market liquidity and on the stability of the financial system; (b) an explanation of the measures and actions that have been taken or are planned to be taken, by the competent authorities of the home Member State or any of the members of the supervisory college or by the institution itself; (c) the latest available quantitative information regarding liquidity and capital po￾sition of the institution.
Article 37
General conditions with regard to exchange of information during an emergency situation

1. The competent authority of the home Member State and the members of the supervisory
   college shall exchange all information necessary to facilitate the exercise of the tasks re￾ferred to in Article 114(1) of Directive 2013/36/EU,subject to the confidentiality require￾ments laid down in Section II of Chapter 1 of Title VII of that Directive, and where applicable, Articles 76 and 81 of Directive 2014/65/EU.
2. Upon being alerted of an emergency situation by any member or observer of the college
   or having identified an emergency situation, the competent authority of the home Mem￾ber State shall communicate the information referred to in Article 36(2)(b), following the procedures referred to in Article 36(2)(a), to the members of the supervisory college who supervise branches that are affected or likely to be affected by the emergency situ￾ation, and the EBA.
3. Depending on the nature, severity, potential systemic impact or other impact, and likeli￾hood of contagion of the emergency situation, the members of the supervisory college
   who supervise significant branches that are affected or likely to be affected by the emer￾gency situation and the competent authority of the home Member State may decide to exchange additional information.
4. The competent authority of the home Member State shall consider whether the infor￾mation referred to in paragraphs 2 and 3 is relevant for the performance of the tasks of
   observers, and in particular of the resolution authority of the home Member State and communicate such information to the relevant observers.
5. The information referred to in paragraphs 2 and 3, where applicable, shall be updated im￾mediately when new information is available.
6. When the exchange of information or communication referred to in this Article is made

orally, the concerned competent authorities shall follow up it with written communica￾tion in a timely manner.
Article 38
Coordination of the supervisory assessment of an emergency situation
1. Where an emergency situation occurs, the competent authority of the home Member
State shall coordinate the assessment of the emergency situation (hereinafter ‘coordi￾nated supervisory assessment’) in cooperation with the members of the supervisory col￾lege pursuant to Article 112(3) of Directive 2013/36/EU.
2. The coordinated supervisory assessment of the emergency situation, prepared by the
competent authority of the home Member State, shall cover at least the following ele￾ments:
a) the nature and severity of the emergency situation; b) the impact or potential impact of the emergency situation on the institution and on any of its affected or likely to be affected branches; c) the risk of cross-border contagion.
3. When assessing paragraph 2, point (c), the competent authority of the home Member
State shall consider the potential systemic consequences in any of the Members States where significant branches are established.
Article 39
Coordination of the supervisory response to an emergency situation
1. Where an emergency situation occurs, the competent authority of the home Member
State shall coordinate the development of a supervisory response to the emergency situ￾ation (hereinafter ‘coordinated supervisory response’ in cooperation with the members of the supervisory college pursuant to Article 112(3) of Directive 2013/36/EU.
2. The coordinated supervisory assessment referred to in Article 38 shall form the basis of
the coordinated supervisory response, which shall define the supervisory actions needed, their scope, and the timetable for their implementation.
3. The coordinated supervisory response shall be developed by the competent authority of
the home Member State and the members of the supervisory college who supervise sig￾nificant branches that are affected or likely to be affected by the emergency situation. It shall take into account input from the resolution college relevant for the management of the emergency situation for the institution, provided via the resolution authority of the home Member State.

Article 40
Monitoring of the implementation of the coordinated supervisory response to an emergency situation

1. The competent authority of the home Member State and the members of the college who
   supervise significant branches that are affected or likely to be affected by the emergency situation shall monitor and exchange information on the implementation of the coordi￾nated supervisory response referred to in Article 39.
2. The information to be exchanged shall include at least an update on the implementation
   of the agreed actions within the foreseen timeline, as referred to in Article 39(2), and the need to update or adjust these actions.
   Article 41
   Coordination of external communication in an emergency situation The competent authority of the home Member State and the members of the college respon￾sible for the supervision of significant branches affected or likely to be affected by an emer￾gency situation shall coordinate to the extent possible their external communications, taking into account the elements specified under Article 24(2).
   Article 42
   Repeal
   Delegated regulation (EU) No 2016/98 is repealed.
   References to the repealed Regulation shall be construed as references to this Regulation and shall be read in accordance with the correlation table set out in Annex I.
   Article 43
   Entry into force
   This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, For the Commission The President

ANNEX I
Correlation table
This Delegated Regulation Commission Delegated Regulation (EU) 2016/98
Article 1 Article 1
Article 1a
Article 2 Article 2
Article 3 Article 3
Article 4 Article 4
Article 5 Article 5
Article 6 Article 6
Article 7 Article 7
Article 8 Article 8
Article 9 Article 9
Article 10 Article 10
Article 11 Article 11
Article 12 Article 12
Article 13 Article 13
Article 14 Article 14

Article 15 Article 15
Article 16 Article 16
Article 17
Article 18
Article 19 Article 17
Article 20 Article 18
Article 21 Article 19
Article 22 Article 20
Article 23 Article 21
Article 24 Article 22
Article 25 Article 23
Article 26 Article 24
Article 27 Article 25
Article 28 Article 26
Article 29 Article 27
Article 30 Article 28
Article 31 Article 29

Article 32 Article 30
Article 33 Article 31
Article 34
Article 35
Article 36 Article 32
Article 37 Article 33
Article 38 Article 34
Article 39 Article 35
Article 40 Article 36
Article 41 Article 37
Article 42
Article 43 Article 38

COMMISSION IMPLEMENTING REGULATION (EU) 20xx/xx of date month year laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/99 25 (Text with EEA relevance) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC 26, and in particular Articles 51(5), second subparagraph, and 116(5), third subparagraph, thereof, Whereas:
(1) On the basis of the mandates set out by Article 51(4) and Article 116 (4) of the Directive 2013/36/EU, the European Banking Authority (EBA) developed draft implementing technical standards that were adopted by the Commission Implementing Regulation (EU) 2016/99 of 16 October 2015, laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors accord￾ing to Directive 2013/36/EU of the European Parliament and of the Council 27 . (2) The Implementing Regulation (EU) 2016/99 specifies the process of establishing and updating the mapping of the group entities in the Union and third countries, the steps to perform for the establishment of the college, including the invitation to the members and the agreement on the terms of participation of the observers between the consolidating supervisor and the members of the college, before their invitation. That Regulation also provides the various operational arrangements of the college that allow it to deliver on 25 Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to Directive 2013/36/EU of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 21). 26 OJ L 176, 27.6.2013, p. 338. 27 OJ L 21, 28.1.2016, p. 21.

the tasks as set out by the Directive 2013/36/EU and the Commission Delegated Regu￾lation 2016/98 28, including the conclusion and amendment of the college written coordi￾nation and cooperation arrangement, the organisation of college meetings, the frame￾work for exchanging information between the consolidating supervisor, the college members and observers and the planning and coordination of supervisory activities in going concern as well as in preparation for and during emergency situations. (3) As the Implementing Regulation (EU) 2016/99 provides for the operational arrange￾ments of supervisory colleges, it should be amended together with the Delegated Regu￾lation (EU) 2016/98 in order to take into account Regulation (EU) 2019/876 of the Eu￾ropean Parliament and Council 29 and Directive (EU) 2019/878 of the European Parlia￾ment and Council 30, which amended the prudential requirements relevant for supervisory colleges as set out by Directive 2013/36/EU. (4) As the mapping of the group of institutions and then the establishment of the supervisory college should ensure cooperation between competent authorities and relevant observers, the mapping template should be amended to considers the set-up of college where a sec￾ond intermediate EU parent undertaking is established pursuant to Article 21b of Di￾rective 2013/36/EU, the set-up of colleges grounded by other sectoral legislation (e.g AML/CFT) and open the possibility for them to participate in the supervisory college as observers. (5) The steps that the consolidating supervisor should follow when requesting authorities to become observers of the supervisory college should be amended in order to reflect the changes put forward by the Delegated Regulation 20xx/xx[PO Please insert the number of the new Commission Delegated Regulation repealing Commission Delegated Regu￾lation (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors (OJ L 21, 28.1.2016, p. 2)], in particular allowing for the differentiation between the mandatory and non-mandatory observers of the supervisory college. In any case, when the consoli￾dating supervisor intends to request relevant authorities to become observers of the super￾visory college, it needs to ensure that the members of the college are informed in advance of that intention and are allowed appropriate time in order to assess, agree on, or in case of non-mandatory observers, object to this proposal. For ensuring that the process is man￾aged in an appropriate manner, the consolidating supervisor should first request the au￾thorities eligible for becoming members of the college, and then it should proceed with sending request to observers of the college. (6) While the process of concluding and amending the written coordination and cooperation 28 Commission Delegated Regulation (EU)
2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors (OJ L 21, 28.1.2016, p. 2). 29 Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (OJ L 150, 7.6.2019, p. 1). 30 Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures (OJ L 150, 7.6.2019, p. 253).

arrangements (WCCA) remains intact, the common template of the WCCA as included in Annex II of Implementing Regulation (EU) 2016/99, that is designed to ensure a con￾sistent approach across supervisory colleges, in terms of structure and provisions cov￾ered, should be updated to reflect the terms of participation of the various observers of the supervisory college and the inclusion of the description of the event of adverse ma￾terial effect on the risk profile of the group and its entities and the agreed set of infor￾mation that shall be exchanged if such event materialises. (7) The new framework should also consider lessons learned from recent events when su￾pervisory college meetings had to be transferred to virtual channels. While recognising the various supervisory tasks that the consolidating supervisor and other members of the college need to perform and their complexity, supervisory colleges should be equipped with the flexibility to decide on the format of the college meeting they organise in order to further enhance the efficient and effective functioning. Therefore, supervisory col￾leges should be allowed to hold meetings in virtual format if that fits with the objectives of the meeting. Physical meetings should be organised when beneficial for reaching the objectives of the meeting, in particular for the purpose of reaching joint decision on in￾stitution-specific prudential requirements in accordance with Article 113 of Directive 2013/36/EU and on the assessment of the group recovery plan in accordance with Article 8 of Directive 2014/49/EU 31 . (8) With the extension of the scope of the supervisory college as a tool for information ex￾change, cooperation and coordination, with the aim to protect the interests of depositors and investors in their Member States and to protect the financial stability within the Eu￾ropean Union, the information exchange with the observers, in particular with the group￾level resolution authority or the resolution authority of the home Member State, has been enhanced. Therefore, the consolidating supervisor should transmit a particular piece of information to the observers of the supervisory college, if the consolidating supervisor deems it relevant for the performance of their tasks, including when a group entity in￾fringes or due to a rapidly deteriorating financial condition, is likely in the near future to infringe the requirements of the Regulation (EU) No 575/2013 or Directive 2013/36/EU, or in emergency situations or in case of an event of adverse material effect on the risk profile of the group or its entities. (9) In order to facilitate the identification of early warning signs, potential risks and vulner￾abilities for informing the group risk assessment report and liquidity risk assessment re￾port, the consolidating supervisor and other college members agree in advance on a set of indicators to be exchanged at least on an annual basis, that are calculated on the basis of the supervisory data that
competent authorities collect in accordance with Commis￾sion Implementing Regulation (EU) 2021/451 of 17 December 2020 32 . In order to ensure the operationalisation of the regular information exchange on the indicators identified for the identification of early warning sings, potential risks and vulnerabilities, the tem￾plate of the written coordination and cooperation arrangement have been updated with 31 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast) (OJ L 173 12.6.2014, p. 149). 32 Commission Implementing Regulation (EU) 2021/451 of 17 December 2020 laying down implementing technical standards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to supervisory reporting of institutions and repealing Implementing Regulation (EU) No 680/2014 (OJ L 97, 19.3.2021, p. 1.) .

an Annex that should contain the list of agreed indicators.
(10) The establishment and update of the college framework for emergency situations is led by the consolidating supervisor or by the competent authorities of the home Member State who ensure that college members have the possibility to comment and provide their input to the proposed framework. The college specific operational arrangements for the information exchange and cooperation and coordination between the consolidating su￾pervisor and the members of the supervisory college in an emergency situation are de￾scribed in the WCCA, which should ensure the efficient and effective cooperation and management of an emergency situation. To ensure that the coordinated supervisory re￾sponse to an emergency situation considers all relevant information for the best possible management of the situation, the involvement of the group-level resolution authority is crucial. Therefore, input from the resolution college should be shared by the consolidat￾ing supervisor with the members of the supervisory college and taken into account in the development of the coordinated supervisory response. (11) Given the several amendments to be made, Implementing Regulation 2016/99 should be repealed and replaced in the interest of clarity. Therefore, references to that Regula￾tion should be construed as references to this Regulation. (12) This Regulation is based on the draft implementing technical standards submitted by the European Supervisory Authority (European Banking Authority) (EBA) to the Com￾mission. (13) The EBA has conducted open public consultations on the draft implementing tech￾nical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parlia￾ment and of the Council 33 , HAS ADOPTED THIS REGULATION:
CHAPTER 1
GENERAL PROVISIONS
Article 1
Subject matter
This Regulation determines the operational functioning of the college of supervisors (‘su￾pervisory college’) formed in accordance with Article 116 and Article 51(3) of Directive 2013/36/EU. 33 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervi￾sory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 1).

Article 1a
Definitions
For the purposes of this Regulation, the following definitions apply:
(1) ‘AML/CFT authority’ means an authority entrusted with the public duty to ensure com￾pliance with Directive (EU) 2015/849 34; (2) ‘AML/CFT college’ means a college established for the purpose of facilitating coopera￾tion between AML/CFT authorities.
CHAPTER 2 OPERATIONAL FUNCTIONING OF SUPERVISORY COLLEGES FORMED IN ACCORDANCE
WITH ARTICLE 116 OF DIRECTIVE 2013/36/EU 35
SECTION 1
Establishment and functioning of supervisory colleges
Article 2
Establishment and update of the mapping of a group of institutions
1. The consolidating supervisor shall submit the draft mapping, prepared in accordance
with Article 2 of Delegated Regulation (EU) 20xx/xx 36[PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regu￾lation (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors (OJ L 21, 28.1.2016, p. 2). Only the short title, including the long title in the footnote], to the au￾thorities eligible for becoming members of the supervisory college pursuant to Article 3(1) of that Regulation (hereinafter ‘potential members of the supervisory college’), in￾viting them to provide their views and indicating the appropriate deadline for the sub￾mission of these views.
2. For the purposes of finalising the mapping and without prejudice to the application of
Article 51 of Directive 2013/36/EU, the consolidating supervisor shall consider any
views and reservations expressed by the potential members of the supervisory college.
34 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC ((OJ L 141 5.6.2015, p. 73). 35 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC ((OJ L 176 27.6.2013, p. 338). 36 [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors (OJ L 21, 28.1.2016, p. 2) (OJ L XXXXXXXXXX].).

3. Upon finalisation, the consolidating supervisor shall communicate the mapping of the
group to all potential members of the supervisory college.
4. The consolidating supervisor shall update the mapping, applying the process defined in
paragraphs 1 to 3, at least on an annual basis or more frequently in case there are signif￾icant changes in the structure of the group.
5. The consolidating supervisor shall use the template in Annex I for the establishment and
update of the mapping of a group of institutions.
Article 3
Establishment of a supervisory college
1. To establish a supervisory college, the consolidating supervisor shall perform the steps
set out in paragraphs 2 to 6:
2. The consolidating supervisor shall request the authorities referred to in Article 3(1) of
Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Com￾mission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Par￾liament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors (OJ L 21, 28.1.2016, p. 2). Only the short title, including the OJ reference in the footnote] to be￾come members of the supervisory college.
3. The consolidating supervisor shall notify to the members of the supervisory college who
have accepted the request as referred to in paragraph 7 of this Article (a) the list of the authorities that shall be requested to become observers of the su￾pervisory college in accordance with Article 3(2) of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98]; (b) the list of authorities that the consolidating supervisor intends to request to be￾come observers of the college in accordance with Article 3(3) of Delegated Reg￾ulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98]; (c) the proposal of the consolidating supervisor on the terms of the participation of the observers referred to in (a) and (b) in the supervisory college to be included in the written coordination and cooperation arrangements in accordance with Ar￾ticle 5(c) of Delegated Regulation (EU) 20xx/xx [PO Please insert just the num￾ber of the new Commission Delegated Regulation repealing Commission Dele￾gated Regulation (EU) 2016/98]. (d) for the third country supervisory authorities referred to in Article 3 (2) and (3) of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of

the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the opinion of the consolidating supervisor on the assessment of the equivalence of the confidentiality and professional secrecy requirements applicable to the third country supervisory authority.
4. The notification referred to in paragraph 3 shall set an adequate deadline within which
any disagreeing college member may express in writing its fully reasoned objection to the proposal or opinion of the consolidating supervisor referred to in that paragraph, points (b) to (d).
5. The consolidating supervisor shall engage in a dialogue with the disagreeing authority
with the involvement of the EBA and with the involvement of the other members of the college, as appropriate, for an agreement to be reached.
6. Upon agreement of all college members on the proposal, which shall be inferred by the
consolidating supervisor if no objection has been expressed within the deadline, the consolidating supervisor shall send the request to the authority referred to in Article 3, paragraph 3 to become an observer of the college. The request to become observer shall be accompanied by the terms of the observer participation as agreed by the members of the college and included in the written coordination and cooperation arrangements.
7. Authorities receiving a request to become members referred to in paragraph 2 shall ac￾quire this status upon acceptance of the request. If no objection has been raised within
the deadline, these authorities shall be deemed as having accepted to become members of the college.
8. The authorities receiving a request to become observers referred to in paragraph 6 shall
acquire this status upon acceptance of the request and they shall also accept the terms of observer participation as notified to them by the consolidating supervisor. If no ob￾jection has been raised within the deadline, these authorities shall be deemed as having accepted to become observers of the college.
9. Authorities referred to in paragraph 3, points (b) may request to become observers of a
supervisory college. The relevant request shall be addressed to the consolidating super￾visor. Where the consolidating supervisor decides to request these authorities to partic￾ipate in the supervisory college as observers, it shall apply the processes referred to in paragraph 3-6, as applicable.
Article 4
Establishment and update of contact lists

1. The consolidating supervisor shall maintain the contact list and emergency contact list of
   the supervisory college, including full contact details and out-of-hours contact details to be used during emergency situations and communicate it to the members and observers of the supervisory college using the template in Annex II. The contact list and emergency contact list shall be annexed to the written coordination and cooperation arrangements referred to in Article 5 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the

number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
2. The members of the supervisory college shall provide their contact details to the consol￾idating supervisor and shall inform the consolidating supervisor of any changes in those
details without undue delay.
3. Any updated version of the contact list and emergency contact listshall be communicated
by the consolidating supervisor to the members of the supervisory college without undue delay and on a regular basis.
Article 5
Conclusion and amendment of the written coordination and cooperation arrangements

1. The consolidating supervisor shall prepare its proposal for the conclusion of written co￾ordination and cooperation arrangements in accordance with Article 115 of Directive
   2013/36/EU and Article 5 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Dele￾gated Regulation (EU) 2016/98].
2. The consolidating supervisor shall communicate its proposal to the members of the su￾pervisory college inviting them to provide their views and indicating the appropriate
   deadline for the submission of these views.
3. For the purposes of finalising the written coordination and cooperation arrangements, the
   consolidating supervisor shall take into account any views and reservations expressed by the members of the supervisory college and explain, if necessary, the reason for not in￾corporating them.
4. Upon finalisation, the consolidating supervisor shall communicate the written coordina￾tion and cooperation arrangements to the members of the supervisory college.
5. If deemed necessary by the consolidating supervisor and members of the supervisory
   college, the implementation of the written coordination and cooperation arrangements shall be tested by means of simulation exercises or in any other way, as appropriate.
6. The consolidating supervisor and the members of the supervisory college shall consider
   the need to amend the written coordination and cooperation arrangements in case of changes in any of its elements pursuant to Article 5 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98]. The written coordination and cooperation arrangements shall be amended to reflect any changes in the membership of the supervisory college. Elements of the written coordination and cooperation arrangements shall be reviewed by the consolidating supervisor and the members of the supervisory college on a regular

basis to be determined in these arrangements.
7. The consolidating supervisor and the members of the supervisory college shall amend
the written coordination and cooperation arrangements by following the process de￾scribed in paragraphs 1 to 4.
8. The consolidating supervisor shall use the template in Annex II to conclude and amend
the written coordination and cooperation arrangements.
Article 6
Operational aspects of supervisory college meetings and activities

1. Supervisory colleges shall convene at least one meeting per year. However, the consoli￾dating supervisor with the consent of all members of the college, having taken into ac￾count the specificities of the group, may determine a different frequency of meetings.
2. The consolidating supervisor shall clearly establish the objectives of the supervisory col￾lege meetings. The consolidating supervisor shall ensure that those objectives are re￾flected in the agenda of the meetings.
3. The consolidating supervisor shall decide if the meeting is convened in physical or in
   virtual format, based on the objectives of the meeting.
4. The consolidating supervisor shall send the proposed agenda of the supervisory college
   meeting to all the members, the group-level resolution authority, and to those observers of the college that it intends to invite, in accordance with Article 6 (1) of the Delegated Regulation 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98] and shall invite them to propose any additional agenda items. The consolidating supervisor shall take into account any proposals on agenda items made by the members and relevant observers of the supervisory college and shall explain, if requested, the reason for not incorporating them.
5. The consolidating supervisor and the members and observers of the supervisory college
   who are involved in a particular activity or meeting of the supervisory college, shall exchange documents and contributions to working documents well in advance to enable all participants in the supervisory college meeting to actively contribute to the discus￾sions.
   SECTION 2
   Planning and coordination of supervisory activities in going concern situations
   Article 7

General framework for the exchange of information between the consolidating supervisor and supervisory college members
1. When received from a member of the supervisory college, the consolidating supervisor
shall transmit the information referred to in Article 9(3) of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98] to the other members of the college.
2. The consolidating supervisor and the members of the supervisory college shall transmit
to each other the information referred to in Article 9(4) and (5) of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Reg￾ulation repealing Commission Delegated Regulation (EU) 2016/98].
3. If the consolidating supervisor deems that any information referred to in paragraph 1 is
not relevant for a particular member of the supervisory college, it shall previously consult that member and provide it with key points of the information to enable that member to determine its actual relevance.
4. The consolidating supervisor shall consider organising the supervisory college in differ￾ent substructures for the purpose of ensuring the efficient and effective functioning of
the supervisory college, where relevant. When the supervisory college is organised in different substructures, the consolidating supervisor shall keep all supervisory college members fully informed, in a timely manner, on the actions taken or the measures carried out in different supervisory college substructures.
5. The consolidating supervisor and the members of the supervisory college shall agree on
the means for the exchange of information and shall specify this agreement in the written coordination and cooperation arrangements referred to in Article 5 of Delegated Regula￾tion (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
Article 8
General framework for the exchange of information between the consolidating supervisor and observers of the supervisory college
1. Once a joint decision has been reached on the institution specific prudential require￾ments in accordance with Article 113 of Directive 2013/36/EU, the consolidating
supervisor shall provide the group-level resolution authority with the information re￾ferred to in Article 17 (2)(a) of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
2. In case of an event of adverse material effect on the risk profile of the group or its entities
the consolidating supervisor shall communicate to the relevant observers the relevant information shared for the purpose of Article 18 of the Delegated Regulation (EU)

20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
Article 9
Ongoing review of the permission to use internal approaches
1. Where the requirements for applying an internal approach in accordance with Article
143(1), Article 151(4) or (9), Article 283, Article 312(2), or Article 363 of Regulation (EU) No 575/2013 37 are no longer met by any of the institutions established in a Member State, or where weaknesses have been identified in accordance with Article 101 of Di￾rective 2013/36/EU by any relevant member of the supervisory college within the mean￾ing of Article 11(1) of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the consolidating supervisor and that member of the supervi￾sory college shall work together, in full consultation, to jointly agree on the revocation of the permission to use the approach, on the imposition of capital add-ons or on the restriction of the use of the internal model as referred to in Article 11(2)(c) and (d) of that Delegated Regulation.
2. The decision on the revocation of an approved model shall be jointly taken by the consol￾idating supervisor and the relevant members of the supervisory college supervising enti￾ties using the approved model and affected by the inefficiencies identified under para￾graph 1. The cooperation between the consolidating supervisor and those members of
the supervisory college shall follow the process set by the provisions of Commission Implementing Regulation (EU) 2016/100 38 .
3. The decision resulting in the imposition of capital add-ons shall be taken through the
capital joint decision process in accordance with Article 113(1)(a) of Directive 2013/36/EU.
4. The consolidating supervisor shall inform all other members of the supervisory college
on the decisions taken pursuant to paragraph 1, where it considers that such information is likely to affect other activities of the supervisory college or is essential for the exercise of the tasks of other members of the supervisory college.
Article 10
Notification of non-material extensions or changes in internal models
1. For non-material model extensions or changes that affect any of the institutions estab￾lished in a Member State, the consolidating supervisor shall inform all relevant members
of the supervisory college within the meaning of Article 11(1) of Delegated Regulation 37 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176 27.6.2013, p. 1). 38 Commission Implementing Regulation (EU) 2016/100 of 16 October 2015 laying down implementing technical standards specifying the joint decision process with regard to the application for certain prudential permissions pursuant to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 21, 28.1.2016, p. 45l).

(EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Reg￾ulation repealing Commission Delegated Regulation (EU) 2016/98] for the purpose of this Article of those extensions or changes without delay.
2. A relevant member of the supervisory college shall inform the consolidating supervisor
of any non-material extensions or changes that affect any of the institutions under the supervisory remit of that relevant member of the supervisory college.
3. Where a relevant member of the supervisory college has concerns regarding the classifi￾cation of an extension or change as non-material, it shall communicate those concerns to
the consolidating supervisor who shall disseminate this information to the other relevant members of the supervisory college. Where the consolidating supervisor has concerns regarding the classification of an exten￾sion or change as non-material, it shall communicate those concerns to all relevant mem￾bers of the supervisory college. The consolidating supervisor and the relevant members of the supervisory college shall discuss the details of those concerns for the purposes of reaching a common view on the materiality of the extension or change.
4. Where the consolidating supervisor and the relevant members of the supervisory college
consider that extensions or changes to an internal model have incorrectly been classified by the institution concerned as non-material, they shall inform that institution without delay.
Article 11
Exchange of information on early warnings signs, potential risks and vulnerabilities

1. The indicators referred to in Article 12 of Delegated Regulation (EU) 20xx/xx [PO Please
   insert just the number of the new Commission Delegated Regulation repealing Commis￾sion Delegated Regulation (EU) 2016/98] shall be computed based on the information that competent authorities collect from supervised institutions in accordance with Com￾mission Implementing Regulation (EU) No 2021/451 39 . The agreed indicators shall be set out in the written coordination and cooperation arrange￾ments in accordance with Article 5of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commis￾sion Delegated Regulation (EU) 2016/98] and based on the list of Annex II C to this Implementing Regulation.
2. Each member of the supervisory college participating in the development of a group risk
   assessment report referred to in Article 113(2)(a) of Directive 2013/36/EU or a group liquidity risk assessment report referred to in Article 113(2)(b) of that Directive for the 39 Commission Implementing Regulation (EU) 2021/451 of 17 December 2020 laying down implementing technical standards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to supervisory reporting of institutions and repealing Implementing Regulation (EU) No 680/2014 (OJ L 97, 19.3.2021, p. 1).

purposes of reaching joint decisions on institution-specific prudential requirements in accordance with that Article shall communicate to the consolidating supervisor the val￾ues of the agreed indicators for the institutions under its supervisory remit, as relevant.
3. The consolidating supervisor shall disseminate the values referred to in paragraph 1 and
the values of the agreed indicators for the EU parent undertaking and at consolidated level, to each member of the supervisory college referred to in paragraph 2.
4. The consolidating supervisor and the members of the supervisory college referred to in
paragraph 2 shall exchange the values of the agreed indicators at least on an annual basis, or more frequently if agreed by these competent authorities. In case of an event of ad￾verse material effect on the risk profile of the group or its entities, the values of those indicators referred to in that paragraph, which are impacted by the event, shall be updated and exchanged without undue delay.
Article 12
Establishment and update of the examination programme of the supervisory college and voluntary agreement on entrustment of tasks and delegation of responsibilities
1. Once the joint decisions on institution-specific prudential requirements in accordance
with Article 113 of Directive 2013/36/EU have been reached, the members of the su￾pervisory college shall provide their contribution to the consolidating supervisor for the purposes of establishing the examination programme of the supervisory college referred to in Article 116(1)(c) of Directive 2013/36/EU in accordance with Article 16 of Dele￾gated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commis￾sion Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
2. After receiving the contributions from the members of the supervisory college, the con￾solidating supervisor shall prepare the draft examination programme of the supervisory
college, including proposals, where relevant, for the allocation of tasks for entrustment and delegation of responsibilities.
3. The consolidating supervisor shall circulate the draft examination programme of the su￾pervisory college to the members of the supervisory college inviting them to provide their
views on the areas of joint work and the proposals, where relevant, for allocation of tasks for entrustment and delegation of responsibilities in writing, indicating the appropriate deadline for the submission of these views.
4. For the purposes of completing the examination programme of the supervisory college,
the consolidating supervisor shall take into account any views and reservations expressed by the members of the supervisory college and explain, if necessary, the reason for not incorporating them.
5. Upon completion, the consolidating supervisor shall communicate the examination pro￾gramme of the supervisory college to the college members and conclude, on a voluntary
basis, an agreement on entrustment of tasks and delegation of responsibilities, where relevant.

6. The examination programme of the supervisory college shall be updated at least annu￾ally, or more frequently if deemed necessary as a result of the supervisory review and
evaluation process pursuant to Article 97 of Directive 2013/36/EU, or as a result of joint decisions on institution-specific prudential requirements in accordance to Article 113 of that Directive.
7. The consolidating supervisor shall update the examination programme of the supervisory
college by following the process defined in paragraphs 1 to 5.
Article 13
Exchange of information in case of an event of adverse material effect on the risk profile of the group or its entities The consolidating supervisor and the relevant members of the supervisory college shall use the template in Annex II D to communicate the set of information, as agreed by the consolidating supervisor and the members of the supervisory college, in case of an event of adverse material effect on the risk profile of the group or its entities, referred to in Article 18(3) of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
SECTION 3
Planning and coordination of supervisory activities in preparation for and during emergency situations
Article 14
Establishment and update of the college framework for emergency situations
1. The consolidating supervisor shall prepare its proposal for establishing a college frame￾work for emergency situations in accordance with Article 19 of Delegated Regulation
(EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Reg￾ulation repealing Commission Delegated Regulation (EU) 2016/98].
2. The consolidating supervisor shall submit its proposal to the members of the supervisory
college, inviting them to provide their views and indicating the appropriate deadline for the submission of those views.
3. The consolidating supervisor shall take into account any views and reservations ex￾pressed by the members of the supervisory college, and explain, if necessary, the reasons
for not incorporating them.
4. The consolidating supervisor shall communicate the final version of the college frame￾work for emergency situations to the members of the supervisory college.

5. The consolidating supervisor and the members of the supervisory college shall consider,
at least on an annual basis, the need to update the college framework for emergency situations.
6. The consolidating supervisor and the members of the supervisory college shall update
the college framework for emergency situations by following the process set out in para￾graphs 1 to 4.
Article 15
Exchange of information during an emergency situation
1. Where the consolidating supervisor becomes aware of an emergency situation which af￾fects or is likely to affect an institution or a branch of the group established in a Member
State, the consolidating supervisor shall alert EBA and the member of the supervisory college who supervises the institution or the branch affected or likely to be affected by the emergency situation, without undue delay.
2. Where a member of the supervisory college becomes aware of an emergency situation
which affects or is likely to affect an institution or a branch of the group established in a Member State, the member of the supervisory college shall alert the consolidating super￾visor without undue delay.
3. The consolidating supervisor shall ensure that all other members of the supervisory col￾lege are adequately informed about the main elements of the following:
(a) the coordinated supervisory assessment of the emergency situation as referred to in Article 16; (b) the coordinated supervisory response as referred to in Article 17, including the actions taken or planned to be taken, and its monitoring as referred to in Article 18; (c) the early intervention measures adopted pursuant to Articles 27, 28 and 29 of Directive 2014/59/EU of the European Parliament and of the Council 40 , as rele￾vant, taking into account the necessity for the coordination of these measures in accordance with Article 30 of that Directive, or the determination of the condi￾tions for resolution pursuant to Article 32 of that Directive.
4. When responding to an emergency situation as referred to in Article 17, the consolidating
supervisor shall involve the group-level resolution authority without undue delay and share, input received from that authority, with the members of the supervisory college.
5. Where an emergency situation is restricted to a specific group entity, the situation shall
be managed by the member of the supervisory college responsible for the supervision of 40 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).

that group entity concerned in liaison with the consolidating supervisor.
Article 16
Coordination of the supervisory assessment of an emergency situation
1. For the purposes of Article 21 of Delegated Regulation (EU) 20xx/xx [PO Please insert
just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the consolidating supervisor shall coordinate the development of a draft coordinated supervisory assessment of the emergency situation, based on its own assessment and the assessment of the members of the supervisory col￾lege who supervise group entities that are affected or likely to be affected by the emer￾gency situation.
2. The draft coordinated supervisory assessment of the emergency situation shall cover the
affected or likely to be affected group entities. The views and assessments of the members of the supervisory college responsible for the supervision of those group entities, and input as referred to in Article 15 (4) shall be adequately taken into account by the con￾solidating supervisor.
3. Where the emergency situation is restricted to a specific group entity, the member of the
supervisory college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the supervisory assessment of the emergency situation.
Article 17
Coordination of the supervisory response to an emergency situation
1. For the purposes of Article 22 of Delegated Regulation (EU) 20xx/xx [PO Please insert
just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the consolidating supervisor shall lead the devel￾opment of a coordinated supervisory response to the emergency situation with regard to the group and its affected or likely to be affected group entities. The views and assess￾ments of the members of the supervisory college responsible for the supervision of these group entities shall be adequately taken into account by the consolidating supervisor.
2. Where the emergency situation is restricted to a specific group entity, the member of the
supervisory college responsible for the supervision of that group entity shall conduct, in liaison with the consolidating supervisor, the development of the coordinated supervi￾sory response to the emergency situation.
3. The consolidating supervisor and the members of the supervisory college shall perform
the tasks referred to in paragraphs 1 and 2 without undue delay.
4. The development of the coordinated supervisory assessment of an emergency situation
as referred to in Article 16 and the development of the coordinated supervisory response

to this emergency situation may be run in parallel.
Article 18
Monitoring and update of the coordinated supervisory response to an emergency situation

1. For the purposes of Article 23 of Delegated Regulation (EU) 20xx/xx [PO Please insert
   just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the consolidating supervisor shall coordinate the monitoring of the implementation of the agreed actions set out in the coordinated super￾visory response referred to in Article 17.
2. The members of the supervisory college responsible for the supervision of the group en￾tities affected or likely to be affected by the emergency situation shall inform the consol￾idating supervisor of the evolution of the emergency situation and the implementation of
   the agreed actions related to their respective group entities, as relevant.
3. Any updates on the monitoring of the coordinated supervisory response shall be provided
   by the consolidating supervisor to the members of the supervisory college, including EBA, and shall cover the group and the affected or likely to be affected group entities.
4. The consolidating supervisor and the members of the supervisory college responsible for
   the supervision of the group entities affected or likely to be affected by the emergency situation shall consider the need to update the coordinated supervisory response taking into account the information provided to each other while monitoring its implementation.
5. The requirements set out in paragraphs 1 to 4 shall apply without undue delay.
   CHAPTER 3
   OPERATIONAL FUNCTIONING OF SUPERVISORY COLLEGES FORMED IN ACCORDANCE WITH
   ARTICLE 51(3) OF DIRECTIVE 2013/36/EU
   SECTION 1
   Establishment and functioning of supervisory colleges
   Article 19
   Establishment and update of the mapping of an institution, establishment of a supervisory college, establishment and update of contact lists, and conclusion and amendment of the written coordination and cooperation arrangements For colleges formed in accordance with Article 51(3) of Directive 2013/36/EU, the compe-

tent authority of the home Member State shall establish and update the mapping of an insti￾tution, establish a supervisory college, establish and update contact lists, and conclude and amend written coordination and cooperation arrangements in accordance with Articles 2 to 5 to the extent appropriate.
Article 20
Operational aspects of supervisory college meetings and activities
1. The competent authority of the home Member State shall establish regular cooperation
with supervisory college members that can take the form of meetings or other activities.
2. The organisation of supervisory college meetings and activities, and their objectives shall
be communicated by the competent authority of the home Member State to the members of the supervisory college, including EBA.
3. The competent authority of the home Member State shall clearly establish the objectives
of the supervisory college meetings. The competent authority of the home Member State shall ensure that those objectives are reflected in the agenda items of the meetings.
4. The competent authority of the home Member State shall send the proposed agenda of
the supervisory college meeting to all the members, the resolution authority of the home Member State, and those observers of the college, that it intends to invite in accordance with Article 28(1) of the Delegated Regulation 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regu￾lation (EU) 2016/98] and shall invite them to propose any additional agenda items. The competent authority of the home Member State shall take into account any proposals on agenda items made by the members and relevant observers of the supervisory college and shall explain, if requested, the reason for not incorporating them.
5. The competent authority of the home Member State and the members and observers of
the supervisory college, who are involved in a particular activity or meeting of the su￾pervisory college, shall circulate documents and contributions to working documents well in advance to enable all participants in the supervisory college to actively contribute to the discussions.
SECTION 2
Planning and coordination of supervisory activities in going concern situations
Article 21
General framework for the exchange of information between the competent authorities of the home member state and supervisory college members
1. For the purpose of Article 30(4) of Delegated Regulation (EU) 20xx/xx [PO Please insert
just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the members of the supervisory college shall trans￾mit the information to the competent authorities of the home Member State.

2. The competent authority of the home Member State shall transmit the information re￾ferred to in paragraph 1 to the member of the supervisory college.
3. If the competent authority of the home Member State deems that any information re￾ferred to in paragraph 1 is not relevant for a particular member of the supervisory college,
it shall previously consult that member and provide it with key points of the information to enable that member to determine its actual relevance.
4. When the supervisory college is organised in different substructures, the competent au￾thority of the home Member State shall keep all supervisory college members fully in￾formed, in a timely manner, on the actions taken or the measures carried out in different
college substructures.
5. The competent authority of the home Member State and the members of the supervisory
college shall agree on the means for the exchange of information and shall specify this agreement in the written coordination and cooperation arrangements referred to in Arti￾cle 5 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
Article 22
General framework for the exchange of information between the competent authority of the home Member State and observers of the supervisory college
1. Once the supervisory review and evaluation process in accordance with Article 97 of
Directive 2013/36/EU has been completed for the institution, the competent authority of the home Member State shall provide the resolution authority of the home Member State the information referred to in Article 34, (3)(a) of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regula￾tion repealing Commission Delegated Regulation (EU) 2016/98].
2. In case of an event of adverse material effect on the risk profile of the institution or its
significant branches, the competent authority of the home Member State shall communicate to the relevant observers the relevant information shared for the purpose of Article 35 of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98].
Article 23
Establishment and update of the examination programme of the supervisory college
1. For the purposes of establishing the examination programme of the supervisory college

referred to in Article 99 of Directive 2013/36/EU in accordance with Article 33 of Del￾egated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commis￾sion Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the members of the supervisory college shall provide their contribution to the competent authority of the home Member State.
2. After receiving the contributions from the members of the supervisory college, the com￾petent authority of the home Member State shall prepare a draft examination programme
of the supervisory college.
3. The competent authority of the home Member State shall circulate the draft examination
programme of the supervisory college to the members of the supervisory college inviting them to provide their views on the areas of joint work and indicating the appropriate deadline for the submission of those views.
4. For the purposes of completing the examination programme of the supervisory college,
the competent authority of the home Member State shall take into account any views and reservations expressed by the members of the supervisory college and explain, if neces￾sary, the reasons for not incorporating them.
5. Upon completion, the competent authority of the home Member State shall communicate
the examination programme of the supervisory college to the members of the supervisory college.
6. The examination programme of the supervisory college shall be updated at least annually
or more frequently if deemed necessary as a result of the supervisory review and evalu￾ation process pursuant to Article 97 of Directive 2013/36/EU.
7. The competent authority of the home Member State shall update the examination pro￾gramme of the supervisory college by following the process defined in paragraphs 1 to
5.
Article 24
Exchange of information in case of an event of adverse material effect on the risk profile of the institution or its significant branches The competent authority of the home Member State and the relevant members of the supervisory college shall use the template in Annex II D, to communicate the set of information, as agreed by the competent authority of the home Member State and the members of the supervisory col￾lege, in case of an event of adverse material effect on the risk profile of the institution or its significant branches referred to in Article 35 (2) of the Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commis￾sion Delegated Regulation (EU) 2016/98].
SECTION 3
Planning and coordination of supervisory activities in preparation for and during emergency situations and final provisions

Article 25
Establishment and update of the college framework for emergency situations
1. For the purposes of establishing the college framework for emergency situations, the
competent authorities of the home Member State shall prepare a proposal pursuant to
Article 36 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of
the new Commission Delegated Regulation repealing Commission Delegated Regula￾tion (EU) 2016/98].
2. The competent authority of the home Member State shallsubmit its proposal to the mem￾bers of the supervisory college, inviting them to provide their views and indicating the
appropriate deadline for the submission of those views.
3. The competent authority of the home Member State shall take into account any views and
reservations expressed by the members of the supervisory college, and explain, if neces￾sary, the reasons for not incorporating them.
4. The competent authority of the home Member State shall communicate the final version
of the college framework for emergency situations to the members of the supervisory college.
5. The competent authority of the home Member State and the members of the supervisory
college shall consider, at least on an annual basis, the need to update the college frame￾work for emergency situations.
6. The competent authority of the home Member State and the members of the supervisory
college shall update the college framework for emergency situations by following the process set out in paragraphs 1 to 4.
Article 26
Exchange of information during an emergency situation
1. Where the competent authority of the home Member State becomes aware of an emer￾gency situation which affects or is likely to affect the institution, they shall alert EBA
and the members of the supervisory college without undue delay.
2. Where a member of the supervisory college becomes aware of an emergency situation
which affects or is likely to affect a branch in its jurisdiction, it shall alert the competent authority of the home Member State without undue delay.
3. When responding to an emergency situation, the competent authority of the home Mem￾ber State shall involve the resolution authority of the home Member State and share,
without undue delay, input from that authority with the members of the supervisory col￾lege.
Article 27

Coordination of the supervisory assessment of an emergency situation For the purposes of Article 38 of Delegated Regulation (EU) 20xx/xx [PO Please insert just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the competent authority of the home Member State shall circulate the supervisory assessment of the emergency situation, that takes into account the input from the resolution college as referred to in Article 26 (3), to the members of the supervisory college who supervise branches affected or likely to be affected by the emergency situation.
Article 28
Coordination and monitoring of the supervisory response to an emergency situation

1. For the purposes of Article 39 of Delegated Regulation (EU) 20xx/xx [PO Please insert
   just the number of the new Commission Delegated Regulation repealing Commission Delegated Regulation (EU) 2016/98], the competent authority of the home Member State shall develop a coordinated supervisory response to an emergency situation. The views of the members of the supervisory college who supervise branches affected or likely to be affected by this emergency situation shall be adequately taken into account by the competent authority of the home Member State.
2. The competent authority of the home Member State shall, where relevant, coordinate the
   monitoring of the implementation of any actions set out in the supervisory response.
3. The members of the supervisory college shall inform the competent authority of the home
   Member State about the evolution of the emergency situation and the implementation of any agreed actions related to the branches in their jurisdiction.
4. Any updates on the monitoring of the supervisory response shall be provided by the
   competent authority of the home Member State to the members of the supervisory college, including EBA.
5. The development of the supervisory assessment of an emergency situation as referred to
   in Article 27 and the development of the supervisory response to this situation may be run in parallel.
   Article 29
   Repeal
   Implementing Regulation (EU) 2016/99 is repealed.
   References to the repealed Regulation shall be construed as references to this Regulation and shall be read in accordance with the correlation table set out in Annex III.
   Article 30

Entry into force
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, For the Commission The President

ANNEX III
Correlation table
This Implementing
Regulation
Commission Implementing Regulation (EU)
2016/99
Article 1 Article 1
Article 1a
Article 2 Article 2
Article 3 Article 3
Article 4 Article 4
Article 5 Article 5
Article 6 Article 6
Article 7 Article 7
Article 8
Article 9 Article 8
Article 10 Article 9
Article 11 Article 10
Article 12 Article 11
Article 13

Article 14 Article 12
Article 15 Article 13
Article 16 Article 14
Article 17 Article 15
Article 18 Article 16
Article 19 Article 17
Article 20 Article 18
Article 21 Article 19
Article 22
Article 23 Article 20
Article 24
Article 25 Article 21
Article 26 Article 22
Article 27 Article 23
Article 28 Article 24
Article 29
Article 30 Article 25

4. Accompanying documents
   4.1. Draft cost-benefit analysis / impact assessment
   These Regulations on supervisory colleges replace the existing technical standards on supervisory colleges the EBA has been mandated to deliver based on Article 51 and 116 of Directive 2013/36/EU. Proportionality was considered during the drafting of the current impact assessment analysis. The intensity of the supervisory college work mainly depends on the nature, size and risk-profile of the institutions. Nonetheless, the supervisory colleges are invited to take proportional decisions, when it comes to the participation of observers in supervisory colleges, and exchange of information with observers of the supervisory colleges. The preferred option allows supervisory colleges to take proportionality into account taking those decisions. As per Articles 10(1) and 15(1) of Regulation (EU) No 1093/2010 (EBA Regulation), regulatory and implementing technical standards developed by the EBA shall be accompanied by an analysis of ‘the potential related costs and benefits’. This section presents the cost-benefit analysis of the pro￾visions included in the Regulations as described in this Final Report. The analysis provides an over￾view of problems identified, the two main decisions to be taken, proposed and the potential impact of these options. Given the nature and the scope of the Regulations, the analysis is qualitative in nature. A. Problem identification The main problem to be addressed by the EBA is to achieve the maximum possible level of harmo￾nisation by implementing the binding technical standards (BTS) as a means of establishing a high level of cooperation between supervisory authorities across borders, ensuring a high-quality group supervision while also supporting supervisory colleges to operate efficiently and effectively. Another problem is the imbalance of participation of other than prudential authorities, as resolu￾tion authorities, AML/CFT authorities and third country supervisory authorities, in the supervisory colleges as observers. In relation to that, the consolidating supervisor has to ensure that just the relevant information is exchanged with these authorities, and they are informed and involved for the performance of their tasks while striving to an efficient and effective functioning of the super￾visory colleges. B. Policy objectives For the first problem mentioned under point A (problem identification), the EBA aims to achieve the maximum possible level of harmonisation in supervisory cooperation, avoiding a difference in the level and costs of cooperation across the banking sector in the Union and regulatory arbitrage. The aim is also to enhance supervisory convergence and ensure legal clarity for the authorities in the supervisory colleges. Thereto, supervisory authorities in the different Member States are ex￾pected to exchange information in going concern and emergency situations, e.g. to establish the

supervisory examination programme and prepare the joint decisions. Overall, the supervision achieved through the collaboration in the supervisory college should lead to a better supervision of the cross-border group and more consistent supervisory outcomes, compared to a situation in which competent authorities are acting in silo. The solution to the second problem mentioned under point A (problem identification) should equally support the operational functioning of the college by ensuring that information exchange with resolution and AML/CFT colleges, where relevant, takes place.
C. Baseline scenario
The EBA has already delivered on its mandate with its Regulations on supervisory colleges in 2014.
Since then, general practices in the operational functioning of supervisory colleges have been de￾veloped and are meanwhile established. The CRD V has come into force in 2019 and the changes in the general functioning of colleges as the setting up of specific supervisory colleges with the in￾volvement of third countries are underway. The EBA baseline scenario is therefore abiding with the existing rules and practices as described in the Regulations on supervisory colleges published in 2015. An important characteristic of the baseline scenario relevant for the options considered below, is the power of the consolidating supervisor to decide whether to invite observers to the college of supervisors. Furthermore, the resolution authorities are not listed as potential observer of the supervisory college in the current Regulations. Lastly, information exchange and cooperation are foreseen for situations in going concern and during emergency 41 situations. It is however not foreseen in case of an event of adverse material effect on the risk profile of the group or its entities, e.g. the COVID-19 pandemic, that are established in a Member State and are deemed important as determined in the Regulations on supervisory colleges. D. Options considered As there are Regulations on supervisory colleges in place there is no high-level assessment of the overall costs and benefits of implementing the new Regulations needed. The EBA has, through its experience in monitoring supervisory colleges established a clear view on further improvements needed as well as the way those could be implemented. 42 The cost-benefit 41 The definition of an “emergency situation” is provided in Article 114(1) CRD which is applicable for the supervisory college. It includes a situation as described in Article 18 of the EBA Regulation 1093/2010 as adopted by the Council (system wide crisis, in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union) or a situation of adverse development in markets, which potentially jeopardises the market liquidity and the stability of the financial system in any of the Member States where the group is active through subsidiaries or significant branches. 42 In 2020, before the UK’s withdrawal from the EU, 56 colleges were reported as active and included in the list of super￾visory colleges. Additionally, three active colleges were reported for third-country banking groups at the EEA sub-consol￾idated level, raising the total number of active supervisory colleges to 59. In 2021, 45 colleges were reported as active and were included in the 2021 list of supervisory colleges. Additionally, three active colleges were reported for third￾country banking groups at the EEA sub-consolidated level, raising the total number of active supervisory colleges to 48. In 2022, there were 43 supervisory colleges for EU cross-border
banking groups. Additionally, 2 colleges were reported for third-country banking groups at the EEA sub-consolidated level, raising the total number of supervisory colleges to
45. Report on convergence of supervisory practices in 2021.pdf (europa.eu).

analysis focuses on two specific topics on which a decision is needed and for which several technical options have been considered. The decisions to be taken concern i) the participation in the colleges and ii) the information exchange in situations, where there is no emergency situation yet, but an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are deemed important as determined in the Regulations on supervisory colleges, e.g. the COVID-19 pandemic and invasion of the Ukraine by Russia, occurs. Decision 1: Mandatory observership in the supervisory college The decision is whether to make the observership of certain authorities mandatory in the supervi￾sory college and if yes, to which observers? Option 1: Retain the status quo whereby the consolidating supervisor is required to send an invita￾tion only to members to participate in the supervisory college. In this option the consolidating su￾pervisor decides whether to invite resolution authorities, AML/CFT authorities as observers to the supervisory college. This option equals to the baseline scenario. Option 2: To demand the consolidating supervisor to request the group-level resolution authority (or the resolution authority of the home Member State in case of Article 51(4) of Directive 2013/36/EU supervisory colleges) and lead supervisor of the AML/CFT college to become observer of the supervisory college. Option 3: To demand the consolidating supervisor to request all resolution authorities and AML/CFT authorities in a Member State to become observers of the supervisory college. Decision 2: Exchange of information in certain events The decision is whether to introduce a situation in which information must be exchanged and define the relevant recipients of this information. Whether only members or also observers are involved, in particular the group-level resolution authority or the resolution authority of the home Member State, when the information is relevant for them. Option 1: Retain the status quo in which members of a supervisory college are not required to exchange information in situations amongst themselves nor with observers in case of an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are deemed important as determined in the Regulations on supervisory colleges. This situation equals to the baseline scenario. It is assumed in this option as well as in the options 2 and 3 below that there is not an emergency situation declared. Option 2: To require information exchange in case of an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are deemed important as determined in the Regulations on supervisory colleges. It is required to exchange information amongst members of the supervisory college and also with observers, in particular to the group-level
resolution authority or resolution authority of the home Member State, where it is relevant for the performance of the tasks of the observer. Option 3: To require members of a supervisory college to exchange information amongst themselves in case of an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are deemed important as determined in the Regulations on supervisory colleges. However, it is not required to communicate and exchange

information with observers, i.e. nor between the supervisory college and the resolution college through the group-level resolution authority or resolution authority of the home Member State. E. Assessment of the options for the combination of the two decisions Decision 1 (option 1) and Decision 2 (option 1): The status quo (option 1) under both decisions is not further considered as they would not result in an enhancement of the information exchange and cooperation through the framework of supervisory colleges and, therefore, are not in line with the EBA’s policy objectives. Option 1 of Decision 1 would not ensure the reinforced cooperation between resolution authorities and supervisory authorities as well as AML/CFT supervisors and their prudential supervisor counterparts as required by the CRD V, nor it would bring any improvement to the shortcomings identified in EBA`s convergence report regarding the participation, rights and responsibilities of the different types of observers in the college and the arrangements on the cooperation between supervisory colleges with resolution colleges and authorities. 43 It would neither support the consistent functioning of supervisory colleges across the Union as each individual consolidating supervisor would decide whether to request the group-level resolution authority, or resolution authority of the home Member State and the lead-supervisor of the AML/CFT college to become observer or not of the supervisory college and regulate this in their written coordination and cooperation arrangements. Option 1 of Decision 2 is not viable either because it would not bring improvement in information sharing in case the group or its entities face with events that cause material adverse impact on their risk profile. By not including a requirement regarding the exchange of information in an event of adverse material effect on the risk profile of the group or its entities, colleges cannot effectively address a potential situation, which is not yet an emergency situation, but ultimately may turn to that. Precisely by the exchange of the relevant information, including indicators, supervisors can depict the trend in the risk profile of the group and its entities and thus facilitate the early identification of potential risks as required by the regulation. Decision 1 (option 2), Decision 2 (option 2): In this combination of options, the extension of the request to become observer to the supervisory college is addressed only to specific observers and the exchange of information in certain events is mandatory, also in relation to observers if the information is relevant for their tasks. Option 2 for Decision 1 allows for a distinction between authorities that have to be requested (e.g. the group-level resolution authority or the resolution authority of the home Member State and the lead supervisor of the AML/CFT college) and may be requested (e.g. the other resolution and AML/CFT authorities in a Member State) to become
observer of a supervisory college. This option considers the arrangement of cooperation with the resolution authorities through the group-level resolution authority or the resolution authority of the home Member State and with the AML/CFT authorities through the lead supervisor of the AML/CFT college; it requires the consolidating supervisor to request those to become observers in the supervisory college. Even if these authorities shall be requested to become observers in the supervisory college, this does not entail mandatory invitation to participate in all meetings and activities, but only when specific circumstances specified in the Regulations on supervisory colleges are met. 43 Report on convergence of supervisory practices in 2021.pdf (europa.eu).

In relation to option 2 for Decision 2 information is required to be exchanged when an event adversely and materially affect the risk profile of the group or its entities and could give rise to a potential emergency situation. Information exchange and cooperation between supervisory authorities can take place timelier which can improve the management of such situation. The consolidating supervisor and the authorities will encounter some costs for the effort to collect and exchange the relevant information, as potential ad hoc information requests have to be launched by the consolidating supervisor or the members of the college, as was experienced in relation to COVID-19 pandemic and the Russian invasion of Ukraine. However, by exchanging information for a more comprehensive risk analysis also improves the common understanding of the situation and helps achieving synergies in the resources of such work in supervisory authorities and limiting unnecessary additional strain on the institutions by eliminating the need for duplicate information requests towards the group and its entities. Confidential information in the event of adverse material effect can be safely exchanged with observers, in particular with the group-level resolution authority or resolution authority of the home Member State but also with the lead supervisor of AML/CFT colleges within the college structure as set out in option 2 for Decision 1, as far as the information is relevant for the performance of their tasks. Decision 1 (option 2), Decision 2 (option 3): In this combination of options the national resolution authorities are not requested to become observers by default, however the consolidating supervisor may decide to request them to become observer of the prudential college if their involvement is deemed necessary. In these options, compared to the combination presented just above, the costs could be potentially high, in particular for the group-level resolution authorities or the resolution authority of the home Member State as in the case of an event of an adverse material effect the timely receipt of information is not ensured. Observers would be excluded receiving relevant information in an event of adverse material effect on the risk profile of the group or its entities which is crucial in the preparation for an effective resolution. Decision 1 (option 3), Decision 2 (option 2): In option 3 for Decision 1 all resolution and AML/CFT authorities in a Member State shall be requested to become observer of the supervisory college. Prescribing that the consolidating supervisor shall request all resolution and AML/CFT authorities in a Member State to the supervisory college as observers, would be in administrative terms burdensome for both the consolidating supervisors and the authorities requested to become observers and it would hamper the efficient functioning of the college. However, in this combination of options, the exchange of information with observers using the
college structure as foreseen in option 2 for Decision 2 is possible. F. Preferred options for each decision Having assessed several combinations of options, Option 2 is the preferred option for both decisions. Option 2 for Decision 1 strikes a good balance because the group-level resolution authority or resolution authority of the home Member State and the lead supervisor of the AML/CFT college are well placed to convey group-wide messages. It can improve the timely cooperation which has been identified as a relatively weak area of the college arrangements regarding recovery and resolution plans and enhances coordination and cooperation. Though in option 2 for Decision 2 the consolidating supervisor, the members of the supervisory college as well as observers, in particular resolution authorities, will have some burden handling the information flow in events of adverse material effect, they will receive a high reward in terms of handling a situation which has material adverse effect on the risk profile of the group and it

entities and could give rise to a potential emergency situation, which seems also proportionate to the risk. Information exchange and cooperation between supervisory authorities can take place timelier which can improve the management of such situation. The consolidating supervisor and the observers receiving information will encounter some costs for the effort to collect and exchange the relevant information. However, by exchanging information for a more comprehensive risk analysis also improves the common understanding of the situation and helps achieving synergies in the resources of such work in supervisory authorities. To support the authorities, an indicative template for information sharing has been developed as proposed in Annex II to the implementing regulation on supervisory colleges.
4.2 Feedback on the public consultation
The EBA has publicly consulted on the draft proposal for these TSs. The consultation period lasted for three months and ended on 30 August 2023. One confidential response was received. This paper presents a summary of the key points and comments arising from the consultation, the analysis and discussion triggered by these comments and the actions taken to address them if deemed necessary. Changes to the draft RTS and ITS have been incorporated. Summary of key issues and the EBA’s response EBA received one confidential response for the public consultation with no general comments. The submitter responses to the specific questions of the consultation, together with the EBA analysis and the actions taken to address them, if deemed necessary, are included in the feedback table.

FINAL REPORT on DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Summary of responses to the consultation and the EBA’s analysis Comments Summary of responses received EBA analysis Amendments to the proposals General comments No general comment has been received Responses to questions in Consultation Paper EBA/CP/2023/10 Question 1. Do you agree with the preferred option for the combination of the two decisions that have been proposed in section 5.1? Do you have any concerns regarding the preferred option for the combined two decisions? Option 2 for Decision 1 and a modified version of Option 3 for Decision 2 Option 2 for Decision 1 is the most adequate choice, as it differentiates between authorities that must be invited to become observers and authorities than can be invited if the consolidating supervisor deems it necessary. This option guarantees a sufficient level of interaction between the authorities that are most familiar with an entity. Option 3 for Decision 2 would be the most operative solution in terms of information sharing, with one amendment: it should be required to exchange information not only with the members of the college, but also with the authorities who are mandatory observers under our chosen alternative for Decision 1, i.e., the group-level resolution authority and the lead supervisor for AML/CFT. It is required to exchange information in the event of adverse material effect on the risk profile with observers, in particular with the group-level resolution authority or resolution authority of the home Member State but also with the lead supervisor of AML/CFT college, if the information is relevant for the performance of their tasks. However, if the information is not considered to be relevant for these authorities exchanging such information would be unnecessary burden and additional cost for the consolidating supervisor or the other college members, and potentially also for the observers. Thus, the TSs ensure that unnecessary information exchange is avoided. No change

FINAL REPORT on DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Comments Summary of responses received EBA analysis Amendments to the proposals Question 2. Do you have any other suggestions with regard to the information items to be exchanged in an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are important as determined in accordance with the Regulations on supervisory colleges other than the ones mentioned in the Annex II of the new Implementing Regulations on supervisory colleges? No additional suggestion was provided. Question 3. What kind of information would you expect to be exchanged from the prudential college to the resolution college in an event of adverse material effect on the risk profile of the group or its entities, that are established in a Member State and are important as determined in accordance with the Regulations on supervisory colleges? Supervisory coordination If supervisory collaboration is always desirable, in these situations full coordination is expected, in particular to avoid duplication of information requests addressed to banks and also misalignments between the requests sent to different entities within the same group from different supervisors, where possible. Banks need to focus on managing a crisis apart from responding to supervisory requests. Supervisory information requests, e.g. supervisory reporting is not in the scope of these TSs. However, the TSs provide the process of concluding and amending the written coordination and cooperation arrangements (WCCA), including the description of the event of adverse material effect on the risk profile of the group and its entities and the agreed set of information that shall be exchanged if such event materialises. Accordingly, coordination is foreseen amongst college members on the impacted entities and the set of information to be exchanged. No change. Question 4. Do you have any suggestions how the consolidating supervisor or the member of the college can prepare for identifying tasks for entrustment and potential delegation of responsibilities in the context of the college supervisory examination programme? 44 One could consider situations as the Covid-19 pandemic and the Russian invasion of Ukraine. Please note that it is assumed that in this situation there is not an emergency situation declared.

FINAL REPORT on DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES Comments Summary of responses received EBA analysis Amendments to the proposals Providing meeting summary After each meeting, colleges share with the bank a summary of the main points discussed and the main areas of concern identified. The key deliverables of supervisory colleges, namely the joint decision on institution specific prudential requirements have to be consulted with the EU parent institution and the institutions of the group, where required by the legislation of a Member State according to Article 3(2)(h) of the Commission Implementing Regulation No710/2014 on institution￾specific prudential requirements. In the framework of such supervisory dialogues, the main outcomes, and concerns of the supervisory discussions, as included in the group and individual risk- and liquidity risk assessment(s) are provided to institutions. No change.

DRAFT REGULATORY AND IMPLEMENTING TECHNICAL STANDARDS ON SUPERVISORY COLLEGES