Instruction No. 2016-I-11 of June 6, 2016 amending Instruction No. 2015-I-13 on prudential financial information reporting for significant and less significant groups and entities

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2016-I-11
Amending Instruction No. 2015-I-13 regarding the declaration of prudential financial information applicable to significant and less significant groups and entities

The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, particularly Article L. 612-24; Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012; Having regard to Regulation (EU) No 2015/534 of the European Central Bank of 17 March 2015 concerning the reporting of prudential financial information (ECB/2015/13); Having regard to Implementing Regulation (EU) No 680/2014 as amended, defining implementing technical standards with regard to prudential information to be provided by institutions, pursuant to Regulation (EU) No 575/2013 of the European Parliament and of the Council; Having regard to Instruction No. 2015-I-13 of 15 June 2015 regarding the declaration of prudential financial information applicable to significant and less significant groups and entities; Having regard to Instruction No. 2015-I-19 of 2 October 2015 regarding the electronic signature of documents transmitted electronically to the ACPR; Having regard to the opinion of the Prudential Affairs Consultative Committee dated 29 April 2016; Decides:

Article 1
Instruction No. 2015-I-13 is hereby amended as follows:
The title of Instruction No. 2015-I-13 is amended to read "Instruction regarding the declaration of prudential financial information applicable to significant and less significant groups and entities".

Article 2
After the first paragraph of Article 1 of Instruction No. 2015-I-13, the following paragraph is inserted:
"Less significant groups and entities subject to prudential supervision, as defined in points e), f) and g) of the first paragraph of Article 1 of Regulation (EU) 2015/534, are required to submit to the General Secretariat of the Prudential Control and Resolution Authority prudential financial information as defined in Title III of the aforementioned Regulation."

The last paragraph of Article 1 is amended as follows:
"By way of exception, significant and less significant entities subject to prudential supervision that have obtained a derogation from the application of prudential requirements on an individual basis, in accordance with Articles 7 and 10 of Regulation (EU) No 575/2013, are not required to declare the prudential financial information provided for in the first paragraph of this Article."

Article 3
A new Article 2 bis is added after Article 2 of Instruction No. 2015-I-13. It is drafted as follows:

Less significant groups and entities defined in points e), f) and g) of the first paragraph of Article 1 of the aforementioned Regulation (EU) 2015/534 must transmit to the General Secretariat of the Prudential Control and Resolution Authority the prudential financial information defined in Article 1 of this Instruction at the reference dates defined in paragraph 1 of Articles 12 and 15 of the aforementioned Regulation (EU) 2015/534.

The prudential financial information defined in Article 1 of this Instruction to be submitted by less significant groups and entities must be sent to the General Secretariat of the Prudential Control and Resolution Authority:

• For less significant groups subject to prudential supervision, including their sub-groups, making their declarations on a consolidated basis, on the 45th working day following the reference date;
• For less significant groups subject to prudential supervision, making their declarations on a sub-consolidated basis, on the 55th working day following the reference date;
• For less significant entities subject to prudential supervision that are not part of a group subject to prudential supervision, on the 45th day following the reference date.
• For less significant entities subject to prudential supervision that are part of a less significant group subject to prudential supervision, on the 55th working day following the reference date;

Article 4
This Instruction shall enter into force on 30 June 2017.

Paris, 6 June 2016

The President of the Prudential Control and Resolution Authority, [François VILLEROY de GALHAU]