Commission Delegated Regulation (EU) 2022/192 of 20 October 2021 amending the regulatory technical standards laid down in Commission Delegated Regulation (EU) No 1151/2014 as regards the information to be notified when exercising the right of establishment and the freedom to provide services (Text with EEA relevance)
Commission Delegated Regulation (EU) 2022/192of 20 October 2021amending the regulatory technical standards laid down in Commission Delegated Regulation (EU) No 1151/2014 as regards the information to be notified when exercising the right of establishment and the freedom to provide services(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 and investment firms, amending Directive 2002/87/EC and repealing Directive 2006/48/EC and Directive 2006/49/ECOJ L 176, 27.6.2013, p. 338., and in particular Articles 35(5), 36(5) and 39(4) thereof,Whereas:(1)Commission Delegated Regulation (EU) No 1151/2014Commission Delegated Regulation (EU) No 1151/2014 of 4 June 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards on the information to be notified when exercising the right of establishment and the freedom to provide services (OJ L 309, 30.10.2014, p. 1). specifies the information to be notified by credit institutions when exercising the right of establishment and the freedom to provide services.(2)To foster convergence in the competent authorities’ assessment practices of the notification submitted by credit institutions, the information specified in Delegated Regulation (EU) No 1151/2014 should be further detailed. Furthermore, it is necessary to update certain references to legal acts to ensure legal certainty.(3)The information provided by the credit institution with a branch passport notification should be sufficiently detailed to ensure that the competent authority of the home Member State is able to perform an accurate and comprehensive assessment of the credit institution’s adequacy to carry out the activities for which the passport notification is submitted. For that purpose, the information provided should indicate the intended start date of each activity rather than just the intended start date of the core business activities. Similarly, the financial plan containing forecasts for the balance sheet and profit and loss account covering a three-year period should include the underlying assumptions.(4)To increase the efficiency in the identification of the credit institution in the communication between the competent authorities of the home and host Member State or in the communication between the host or home Member State and the credit institution concerned, the information provided by the credit institution to the competent authorities should indicate the credit institution’s national reference code and the Legal Entity Identifier, where available.(5)It is important to ensure the safety of deposits and to enhance factual certainty and reliability of the financial information provided by the credit institution to the competent authorities. It is therefore necessary that credit institution, when submitting a communication about the planned termination of a branch, notifies the competent authority of the measures that have been or that are being undertaken to ensure that the branch will no longer hold deposits or other repayable funds from the public after the termination of operation of that branch.(6)The service passport notification should be sufficiently detailed to ensure that the competent authority of the home Member State is able to perform an accurate and comprehensive assessment of the credit institution’s adequacy to carry out the activities for which the passport notification is submitted. The information provided should therefore indicate the intended start date of each activity rather than just the intended start date of the core business activities.(7)Delegated Regulation (EU) No 1151/2014 should therefore be amended accordingly.(8)This Regulation is based on the draft regulatory technical standards submitted to the Commission by the European Banking Authority.(9)The European Banking Authority 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 advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the CouncilRegulation (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).,HAS ADOPTED THIS REGULATION: