Financial conglomerates

The EBA cooperates regularly and closely with the other two European Supervisory Authorities (ESAs), EIOPA and ESMA, through the ESAs' Joint Committee. The aim of this cooperation is to ensure cross-sectoral consistency of work and to reach joint positions in the area of supervision of financial conglomerates, under the Financial Conglomerates Directive (FICOD, 2002/87/EC). In this respect, the ESAs tasks include, in particular, contribution to the European Commission's fundamental review of FICOD, development of joint draft Technical Standards as set out in FICOD and development of Guidelines, and annual updating and publishing of the list of identified financial conglomerates. Further tasks include exchanging supervisory information, assisting in the identification and measurement of systemic risk of financial conglomerates and assessing its cross sector implications, providing regulatory and supervisory input to supervisory measures under FICOD, and fulfilling any other specific tasks set out and agreed by the ESAs' governing bodies, and delegated by the Joint Committee. 

Links

annual notifications

Technical Standards, Guidelines & Recommendations

Technical standards

Adopted and published in the Official Journal of the EU

Regulatory Technical Standards on risk concentration and intra-group transactions within financial conglomerates

These Regulatory Technical Standards (RTS) developed by the Joint Committee of the European Supervisory Authorities (ESAs) aim to clarify which risk concentrations and intra-group transactions within a financial conglomerate should be considered as significant. In addition, the RTS provide some supervisory measures for coordinators and other relevant competent authorities when identifying types of significant risk concentration and intra-group transactions, their associated thresholds and reports, where appropriate.
Adopted and published in the Official Journal of the EU

Regulatory Technical Standards on the uniform conditions of application of the calculation methods for determining the amount of capital required at the level of the financial conglomerate

The proposed Regulatory Technical Standards (RTS) set out specifications for institutions in a financial conglomerate to ensure uniform conditions of application of the calculation methods for determining the amount of capital required at the level of the financial conglomerate. The RTS are based on the following general principles: elimination of multiple gearing; elimination of intra-group creation of own funds; transferability and availability of own funds; and coverage of deficit at financial conglomerate level with regard to the definition of cross-sector capital.

Opinions, Reports and other Publications

Opinions