Paragraph 2: Supervision on a consolidated basis by the Autorité de contrôle prudentiel et de résolution

The provisions of this paragraph apply to the Autorité de contrôle prudentiel et de résolution when it is responsible for supervising groups on a consolidated basis as provided for in Article L. 613-20-1.

I.-Before taking the decisions referred to in the last two paragraphs of Ia of Article L. 613-20-1, the Autorité de contrôle prudentiel et de résolution, in consultation with the other competent authorities, shall consult : 1° Either the parent undertaking located in a Member State of the European Union or in a State party to the Agreement on the European Economic Area ; 2° Or the credit institution or investment…

When the Autorité de contrôle prudentiel et de résolution receives an application for authorisation pursuant to I of Article L. 613-20-4, it shall give its decision no later than six months from receipt of the complete application. The Autorité de contrôle prudentiel et de résolution shall forward the application as soon as possible to the other competent authorities concerned in the Member States of the European Union or parties to…

For the purposes of II of Article L. 613-20-4, the Autorité de contrôle prudentiel et de résolution shall draw up and send to the other competent authorities of the Member States of the European Union and the other States party to the Agreement on the European Economic Area concerned a report containing the group’s risk assessment. For the purposes of III of Article L. 613-20-4, the Autorité de contrôle prudentiel…

The joint decisions of the Autorité de contrôle prudentiel et de résolution on 1°, 2° or 3° of II of Article L. 613-20-4 or on the measures to be taken in the event of any significant issue or finding with an impact on liquidity supervision referred to in II and III of Article L. 613-20-4 respectively shall take into account the risk assessment of the subsidiaries carried out by the…

In the event of disagreement on the joint decision, duly notified, the Autorité de contrôle prudentiel et de résolution shall consult the European Banking Authority, either on its own initiative or at the request of a relevant competent authority of a Member State of the European Union or of a State party to the Agreement on the European Economic Area.

For the application of IV of Article L. 613-20-4, the Autorité de contrôle prudentiel et de résolution shall take into account, in the reasons for its decision on a consolidated basis, the opinions and reservations expressed within the time limits mentioned in Article R. 613-1 A, as well as the risk assessment of the subsidiaries carried out by the other competent authorities concerned of a Member State of the European…

The Autorité de contrôle prudentiel et de résolution shall communicate to the parent undertaking in the European Union and in the other States party to the Agreement on the European Economic Area, to the central bodies for mutual or cooperative institutions and to all the relevant competent authorities of the other Member States of the European Union or of the other States party to the Agreement on the European Economic…

The joint decisions referred to in II and III of Article L. 613-20-4 are updated annually.

In exceptional cases, the Autorité de contrôle prudentiel et de résolution shall organise, on its own initiative or at the reasoned request of any competent authority responsible for the supervision of a subsidiary in another Member State of the European Union or in another State party to the Agreement on the European Economic Area, the updating of decisions taken pursuant to II and VI of Article L. 511-41-3. This update…