OpenLegislation

Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (revoked)

EU Regulation No 468/2014 · Adopted 16 April 2014 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Regulation (EU) No 468/2014 of the European Central Bank

of 16 April 2014

establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation)

(ECB/2014/17) (revoked)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations to the whole text

Textual amendments

F1

Regulation revoked (31.12.2020) by The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/710), regs. 1(3), 33(f); 2020 c. 1, Sch. 5 para. 1(1)

Contents

  1. Part I: GENERAL PROVISIONS Repealed
  2. 1Subject matter and purpose Repealed
  3. 2Definitions Repealed
  4. Part II: ORGANISATION OF THE SSM Repealed
  5. Title 1: STRUCTURES FOR THE SUPERVISION OF SIGNIFICANT AND LESS SIGNIFICANT SUPERVISED ENTITIES Repealed
  6. Chapter 1: Supervision of significant supervised entities Repealed
  7. 3Joint supervisory teams Repealed
  8. 4Establishment and composition of joint supervisory teams Repealed
  9. 5Involvement of staff members from NCBs of participating Member States Repealed
  10. 6JST coordinator and sub-coordinators Repealed
  11. Chapter 2: Supervision of less significant supervised entities Repealed
  12. 7Involvement of staff members from other NCAs in an NCA’s supervisory team Repealed
  13. Title 2: SUPERVISION ON A CONSOLIDATED BASIS AND PARTICIPATION OF THE ECB AND NCAS IN COLLEGES OF SUPERVISORS Repealed
  14. 8Supervision on a consolidated basis Repealed
  15. 9The ECB as chair of a college of supervisors Repealed
  16. 10The ECB and NCAs as members of a college of supervisors Repealed
  17. Title 3: PROCEDURES FOR THE RIGHT OF ESTABLISHMENT AND FREEDOM TO PROVIDE SERVICES Repealed
  18. Chapter 1: Procedures for the right of establishment and freedom to provide services within the SSM Repealed
  19. 11Right of establishment of credit institutions within the SSM Repealed
  20. 12Exercise of the freedom to provide services by credit institutions within the SSM Repealed
  21. Chapter 2: Procedures for the right of establishment and freedom of credit institutions established in non-participating Member States to provide services within the SSM Repealed
  22. 13Notification of the exercise of the right of establishment within the SSM by credit institutions established in non-participating Member States Repealed
  23. 14Competent authority of the host Member State for branches Repealed
  24. 15Notification of the exercise of the freedom to provide services within the SSM by credit institutions established in non-participating Member States Repealed
  25. 16Competent authority of the host Member State for freedom to provide services Repealed
  26. Chapter 3: Procedures for the right of establishment and freedom to provide services in relation to non-participating Member States Repealed
  27. 17Right of establishment and exercise of the freedom to provide services in relation to non-participating Member States Repealed
  28. Title 4: SUPPLEMENTARY SUPERVISION OF FINANCIAL CONGLOMERATES Repealed
  29. 18Coordinator Repealed
  30. Part III: GENERAL PROVISIONS APPLYING TO THE OPERATION OF THE SSM Repealed
  31. Title 1: PRINCIPLES AND OBLIGATIONS Repealed
  32. 19Overview Repealed
  33. 20Duty to cooperate in good faith Repealed
  34. 21General obligation to exchange information Repealed
  35. 22Right of the ECB to instruct NCAs or NDAs to make use of their powers and to take action if the ECB has a supervisory task but no related power Repealed
  36. 23Language regime between the ECB and NCAs Repealed
  37. 24Language regime between the ECB and legal or natural persons, including supervised entities Repealed
  38. Title 2: GENERAL PROVISIONS RELATING TO DUE PROCESS FOR ADOPTING ECB SUPERVISORY DECISIONS Repealed
  39. Chapter 1: ECB supervisory procedures Repealed
  40. 25General principles Repealed
  41. 26Parties Repealed
  42. 27Representation of a party Repealed
  43. 28General obligations of the ECB and parties to an ECB supervisory procedure Repealed
  44. 29Evidence in ECB supervisory procedures Repealed
  45. 30Witnesses and experts in ECB supervisory procedures Repealed
  46. 31Right to be heard Repealed
  47. 32Access to files in an ECB supervisory procedure Repealed
  48. Chapter 2: ECB supervisory decisions Repealed
  49. 33Motivation of ECB supervisory decisions Repealed
  50. 34Suspensory effect Repealed
  51. 35Notification of ECB supervisory decisions Repealed
  52. Title 3: REPORTING OF BREACHES Repealed
  53. 36Reporting of breaches Repealed
  54. 37Appropriate protection for reports of breaches Repealed
  55. 38Procedures for the follow-up of reports Repealed
  56. Part IV: DETERMINING THE STATUS OF A SUPERVISED ENTITY AS SIGNIFICANT OR LESS SIGNIFICANT Repealed
  57. Title 1: GENERAL PROVISIONS RELATING TO THE CLASSIFICATION AS SIGNIFICANT OR LESS SIGNIFICANT Repealed
  58. 39Classifying a supervised entity on an individual basis as significant Repealed
  59. 40Classifying supervised entities which are part of a group as significant Repealed
  60. 41Specific provisions in respect of branches of credit institutions established in non-participating Member States Repealed
  61. 42Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries Repealed
  62. Title 2: PROCEDURE FOR CLASSIFYING SUPERVISED ENTITIES AS SIGNIFICANT SUPERVISED ENTITIES Repealed
  63. Chapter 1: Classifying a supervised entity as significant Repealed
  64. 43Review of the status of a supervised entity Repealed
  65. 44Procedure to be applied in determining the significance of a supervised entity Repealed
  66. Chapter 2: Beginning and end of direct supervision by the ECB Repealed
  67. 45Beginning of direct supervision by the ECB Repealed
  68. 46End of direct supervision by the ECB Repealed
  69. 47Reasons for ending direct supervision by the ECB Repealed
  70. 48Pending procedures Repealed
  71. Chapter 3: List of supervised entities Repealed
  72. 49Publication Repealed
  73. Title 3: DETERMINING SIGNIFICANCE ON THE BASIS OF SIZE Repealed
  74. 50Determining significance on the basis of size Repealed
  75. 51Basis for determining whether or not a supervised entity is significant on the basis of size Repealed
  76. 52Basis for determining significance on the basis of size in specific or exceptional circumstances Repealed
  77. 53Groups of consolidated undertakings Repealed
  78. 54Method of consolidation Repealed
  79. 55Method for calculating total assets Repealed
  80. Title 4: DETERMINING SIGNIFICANCE ON THE BASIS OF IMPORTANCE FOR THE ECONOMY OF THE UNION OR ANY PARTICIPATING MEMBER STATE Repealed
  81. 56National economic importance threshold Repealed
  82. 57Criteria for determining significance on the basis of importance for the economy of the Union or any participating Member State Repealed
  83. 58Determining significance on the basis of importance for the economy of any participating Member State at the request of an NCA Repealed
  84. Title 5: DETERMINING SIGNIFICANCE ON THE BASIS OF THE SIGNIFICANCE OF CROSS-BORDER ACTIVITIES Repealed
  85. 59Criteria for determining significance on the basis of the significance of cross-border activities of a supervised group Repealed
  86. 60Cross-border assets and liabilities Repealed
  87. Title 6: DETERMINING SIGNIFICANCE ON THE BASIS OF A REQUEST FOR OR THE RECEIPT OF PUBLIC FINANCIAL ASSISTANCE FROM THE ESM Repealed
  88. 61Request for or receipt of direct public financial assistance from the ESM Repealed
  89. 62Obligation of NCAs to inform the ECB of a possible request for or receipt of public financial assistance by a less significant supervised entity Repealed
  90. 63Beginning and end of direct supervision Repealed
  91. 64Scope Repealed
  92. Title 7: DETERMINING SIGNIFICANCE ON THE BASIS THAT THE SUPERVISED ENTITY IS ONE OF THE THREE MOST SIGNIFICANT CREDIT INSTITUTIONS IN A PARTICIPATING MEMBER STATE Repealed
  93. 65Criteria for determining the three most significant credit institutions in a participating Member State Repealed
  94. 66Review process Repealed
  95. Title 8: ECB DECISION TO DIRECTLY SUPERVISE LESS SIGNIFICANT SUPERVISED ENTITIES PURSUANT TO ARTICLE 6(5)(B) OF THE SSM REGULATION Repealed
  96. 67Criteria for an ECB decision pursuant to Article 6(5)(b) of the SSM Regulation Repealed
  97. 68Procedure for preparing an ECB decision pursuant to Article 6(5)(b) of the SSM Regulation at the request of an NCA Repealed
  98. 69Procedure for preparing ECB decisions pursuant to Article 6(5)(b) of the SSM Regulation on the ECB’s own initiative Repealed
  99. Title 9: PARTICULAR CIRCUMSTANCES THAT MAY JUSTIFY THE CLASSIFICATION OF A SUPERVISED ENTITY AS LESS SIGNIFICANT ALTHOUGH THE CRITERIA FOR CLASSIFICATION AS SIGNIFICANT ARE FULFILLED Repealed
  100. 70Particular circumstances leading to the classification of a significant supervised entity as less significant Repealed
  101. 71Assessment of the existence of particular circumstances Repealed
  102. 72Review Repealed
  103. Part V: COMMON PROCEDURES Repealed
  104. Title 1: COOPERATION WITH REGARD TO AN APPLICATION FOR AN AUTHORISATION TO TAKE UP THE BUSINESS OF A CREDIT INSTITUTION Repealed
  105. 73Notification of the ECB of an application for an authorisation to take up the business of a credit institution Repealed
  106. 74NCAs’ assessment of applications Repealed
  107. 75NCAs’ decisions rejecting an application Repealed
  108. 76NCAs’ draft decisions on the authorisation to take up the business of a credit institution Repealed
  109. 77ECB’s assessment of applications and hearing of applicants Repealed
  110. 78ECB decisions on applications Repealed
  111. 79Procedure for the lapsing of the authorisation Repealed
  112. Title 2: COOPERATION WITH REGARD TO THE WITHDRAWAL OF AN AUTHORISATION Repealed
  113. 80NCAs’ proposal to withdraw an authorisation Repealed
  114. 81ECB’s assessment of a draft withdrawal decision Repealed
  115. 82Assessment on the ECB's own initiative and consultation of NCAs Repealed
  116. 83ECB decision on the withdrawal of an authorisation Repealed
  117. 84Procedure in case of potential resolution measures to be taken by national authorities Repealed
  118. Title 3: COOPERATION WITH REGARD TO THE ACQUISITION OF QUALIFYING HOLDINGS Repealed
  119. 85Notification to NCAs of the acquisition of a qualifying holding Repealed
  120. 86Assessment of potential acquisitions Repealed
  121. 87ECB decision on acquisition Repealed
  122. Title 4: NOTIFICATION OF DECISIONS ON COMMON PROCEDURES Repealed
  123. 88Procedures for notification of decisions Repealed
  124. Part VI: PROCEDURES FOR THE SUPERVISION OF SIGNIFICANT SUPERVISED ENTITIES Repealed
  125. Title 1: SUPERVISION OF SIGNIFICANT SUPERVISED ENTITIES AND ASSISTANCE BY NCAS Repealed
  126. 89Supervision of significant supervised entities Repealed
  127. 90Role of the NCAs in assisting the ECB Repealed
  128. 91Draft decisions to be prepared by NCAs for the ECB’s consideration Repealed
  129. 92Exchange of information Repealed
  130. Title 2: COMPLIANCE WITH FIT AND PROPER REQUIREMENTS FOR PERSONS RESPONSIBLE FOR MANAGING CREDIT INSTITUTIONS Repealed
  131. 93Assessment of the suitability of members of the management bodies of significant supervised entities Repealed
  132. 94On-going review of managers’ suitability Repealed
  133. Title 3: OTHER PROCEDURES TO BE APPLIED BY SIGNIFICANT SUPERVISED ENTITIES Repealed
  134. 95Requests, notifications or applications by significant supervised entities Repealed
  135. Part VII: PROCEDURES FOR THE SUPERVISION OF LESS SIGNIFICANT SUPERVISED ENTITIES Repealed
  136. Title 1: NCAS’ NOTIFICATION TO THE ECB OF MATERIAL NCA SUPERVISORY PROCEDURES AND MATERIAL DRAFT SUPERVISORY DECISIONS Repealed
  137. 96Deterioration of the financial situation of a less significant supervised entity Repealed
  138. 97NCAs’ notification to the ECB of material NCA supervisory procedures Repealed
  139. 98Notification by NCAs to the ECB of material draft supervisory decisions Repealed
  140. Title 2: EX-POST REPORTING BY NCAS TO THE ECB REGARDING LESS SIGNIFICANT SUPERVISED ENTITIES Repealed
  141. 99General obligation of NCAs to report to the ECB Repealed
  142. 100Frequency and scope of reports to be submitted by NCAs to the ECB Repealed
  143. Part VIII: COOPERATION BETWEEN THE ECB, NCAs AND NDAs WITH REGARD TO MACRO-PRUDENTIAL TASKS AND TOOLS Repealed
  144. Title 1: DEFINITION OF MACRO-PRUDENTIAL TOOLS Repealed
  145. 101General provisions Repealed
  146. 102Application of macro-prudential tools by the ECB Repealed
  147. Title 2: PROCEDURAL PROVISIONS FOR THE USE OF MACRO-PRUDENTIAL TOOLS Repealed
  148. 103List of NCAs and NDAs responsible for macro-prudential tools Repealed
  149. 104Exchange of information and cooperation in respect of the use of macro-prudential tools by an NCA or an NDA Repealed
  150. 105Exchange of information and cooperation in respect of the ECB’s use of macro-prudential tools Repealed
  151. Part IX: PROCEDURES FOR CLOSE COOPERATION Repealed
  152. Title 1: GENERAL PRINCIPLES AND COMMON PROVISIONS Repealed
  153. 106Procedure for the establishment of a close cooperation Repealed
  154. 107Principles to be applied when a close cooperation has been established Repealed
  155. 108Legal instruments related to supervision in connection with close cooperation Repealed
  156. Title 2: CLOSE COOPERATION IN RELATION TO PARTS III, IV, V, VIII, X AND XI Repealed
  157. 109Language regime under the regime of close cooperation Repealed
  158. 110Assessment of significance of credit institutions under the regime of close cooperation Repealed
  159. 111Common procedures under the regime of close cooperation Repealed
  160. 112Macro-prudential tools under the regime of close cooperation Repealed
  161. 113Administrative penalties under the regime of close cooperation Repealed
  162. 114Investigatory powers pursuant to Articles 10 to 13 of the SSM Regulation under the regime of close cooperation Repealed
  163. Title 3: CLOSE COOPERATION IN RESPECT OF SIGNIFICANT SUPERVISED ENTITIES Repealed
  164. 115Supervision of significant supervised entities in a participating Member State in close cooperation Repealed
  165. 116Decisions in respect of significant supervised entities and significant supervised groups Repealed
  166. Title 4: CLOSE COOPERATION IN RESPECT OF LESS SIGNIFICANT SUPERVISED ENTITIES AND LESS SIGNIFICANT SUPERVISED GROUPS Repealed
  167. 117Supervision of less significant supervised entities and less significant supervised groups Repealed
  168. Title 5: PROCEDURE IN CASE OF DISAGREEMENT OF A PARTICIPATING MEMBER STATE IN CLOSE COOPERATION Repealed
  169. 118Procedure in case of disagreement with the Supervisory Board’s draft decision pursuant to Article 7(8) of the SSM Regulation Repealed
  170. 119Procedure in case of disagreement with an objection of the Governing Council to a Supervisory Board’s draft decision pursuant to Article 7(7) of the SSM Regulation Repealed
  171. Part X: ADMINISTRATIVE PENALTIES Repealed
  172. Title 1: DEFINITIONS AND RELATIONSHIP TO COUNCIL REGULATION (EC) NO 2532/98 Repealed
  173. 120Definition of administrative penalties Repealed
  174. 121Relationship to Regulation (EC) No 2532/98 Repealed
  175. 122ECB powers to impose administrative penalties under Article 18(7) of the SSM Regulation Repealed
  176. Title 2: PROCEDURAL RULES FOR THE IMPOSITION OF ADMINISTRATIVE PENALTIES, OTHER THAN PERIODIC PENALTY PAYMENTS, ON SUPERVISED ENTITIES IN EURO AREA MEMBER STATES Repealed
  177. 123Establishment of an independent investigating unit Repealed
  178. 124Referral of alleged breaches to the investigating unit Repealed
  179. 125Powers of the investigating unit Repealed
  180. 126Procedural rights Repealed
  181. 127Examination of the file by the Supervisory Board Repealed
  182. 128Definition of total annual turnover for the purpose of determining the upper limit for administrative pecuniary penalties Repealed
  183. Title 3: PERIODIC PENALTY PAYMENTS Repealed
  184. 129Procedural rules applicable to periodic penalty payments Repealed
  185. Title 4: TIME LIMITS Repealed
  186. 130Limitation periods for imposing administrative penalties Repealed
  187. 131Limitation periods for the enforcement of administrative penalties Repealed
  188. Title 5: PUBLICATION OF DECISIONS AND EXCHANGE OF INFORMATION Repealed
  189. 132Publication of decisions regarding administrative penalties Repealed
  190. 133Informing the EBA Repealed
  191. Title 6: COOPERATION BETWEEN THE ECB AND NCAs IN EURO AREA MEMBER STATES UNDER ARTICLE 18(5) OF THE SSM REGULATION Repealed
  192. 134Significant supervised entities Repealed
  193. 135Reporting in respect of less significant supervised entities Repealed
  194. Title 7: CRIMINAL OFFENCES Repealed
  195. 136Evidence of facts potentially giving rise to a criminal offence Repealed
  196. Title 8: PROCEEDS FROM PENALTIES Repealed
  197. 137Proceeds from penalties Repealed
  198. Part XI: ACCESS TO INFORMATION, REPORTING, INVESTIGATIONS AND ON-SITE INSPECTIONS Repealed
  199. Title 1: GENERAL PRINCIPLES Repealed
  200. 138Cooperation between the ECB and NCAs as regards the powers referred to in Articles 10 to 13 of the SSM Regulation Repealed
  201. Title 2: COOPERATION IN RESPECT OF REQUESTS FOR INFORMATION Repealed
  202. 139Ad-hoc requests for information under Article 10 of the SSM Regulation Repealed
  203. Title 3: REPORTING Repealed
  204. 140Tasks related to supervisory reporting to competent authorities Repealed
  205. 141Requests for information at recurring intervals under Article 10 of the SSM Regulation Repealed
  206. Title 4: COOPERATION WITH REGARD TO GENERAL INVESTIGATIONS Repealed
  207. 142Launch of a general investigation under Article 11 of the SSM Regulation Repealed
  208. Title 5: ON-SITE INSPECTIONS Repealed
  209. 143ECB decision to conduct an on-site inspection under Article 12 of the SSM Regulation Repealed
  210. 144Establishment and composition of on-site inspection teams Repealed
  211. 145Procedure and notification of an on-site inspection Repealed
  212. 146Conduct of the on-site inspections Repealed
  213. Part XII: TRANSITIONAL AND FINAL PROVISIONS Repealed
  214. 147Start of direct supervision by the ECB when the ECB assumes its tasks for the first time Repealed
  215. 148Defining the format of the report on supervisory history and risk profile to be provided by NCAs to the ECB Repealed
  216. 149Continuity of existing procedures Repealed
  217. 150Supervisory decisions taken by NCAs Repealed
  218. 151Member States whose currency becomes the euro Repealed
  219. 152Continuity of existing arrangements Repealed
  220. 153Final provisions Repealed
  221. Signature