Regulatory Alerts2019-09-26
Added · Updated
Recommendation on exchange and collection of information for macroprudential purposes on branches of credit institutions
The European Systemic Risk Board recommends that relevant authorities exchange information on branches of credit institutions with head offices in other Member States or third countries upon reasoned request to support macroprudential oversight. Authorities are encouraged to establish memoranda of understanding to facilitate this cooperation and to invite macroprudential representatives to supervisory colleges. The European Banking Authority is tasked with issuing guidelines detailing the minimum information to be exchanged, including branch-level assets and parent-level leverage data. The European Commission is recommended to assess and propose amendments to Union legislation to remove impediments to this information exchange.