I. – Notwithstanding any provision or stipulation to the contrary, entities in the same group may enter into an agreement, to which the rules of this sub-section apply, the purpose or effect of which is to provide for the conditions under which one or more of the parties to the agreement may benefit, where it meets the conditions for early intervention referred to in I of Article L. 511-41-5, from…
I. – Where the supervisory board is responsible for the supervision of a group on a consolidated basis, the request for authorisation provided for in III of Article L. 613-46 shall be sent to the supervisory board by the parent institution in the EU party to the agreement. It shall include the draft agreement and identify the potential parties. The supervisory board shall, where appropriate, communicate this request to the…
I. – When the matter is referred to it by the authority of another Member State of the European Union responsible for the supervision of a group on a consolidated basis for the purpose of reaching a joint decision on a request for authorisation provided for in III of Article L. 613-46, the supervisory college shall provide all the cooperation required. In particular, it shall ensure, as far as it…
I. – The agreement is freely entered into by each of the parties acting in their own best interests, taking into account in particular any direct or indirect advantage that may result. It shall contain clauses designed to: 1° Define the forms that the support may take ; 2° Identify the remuneration received in return for granting such support and set the rules for calculating it; 3° Define the conditions…
I. – Financial support may be provided by an entity of a group pursuant to Article L. 613-46 only if the following conditions are met: 1° The financial support is intended to preserve or restore the financial stability of the group as a whole or of one of its entities and is in the best interests of the person providing it; 2° There is a reasonable prospect that the support…
I. – Where the supervisory board is the competent authority to supervise the entity party to the agreement considering granting its support, it may authorise, prohibit or restrict the scope of a support decision referred to in Article L. 613-46-4 within five working days of receiving the decision. II. – The supervisory board shall immediately notify its decision to : 1° The European Banking Authority ; 2° Where applicable, the…
I.-Where the college of supervisors, in its capacity as the authority responsible for the supervision on a consolidated basis or as the competent authority responsible for the supervision on an individual basis of an entity eligible for support, receives from the competent authority of the entity providing support a draft decision prohibiting or restricting financial support, it may, in the event of disagreement, refer the matter within two days to…
Where a decision resulting from Articles L. 613-46-5 and L. 613-46-6 affects the preventive recovery plan of an entity or group drawn up pursuant to the provisions of sub-section 2 of this section by prohibiting or restricting the granting of financial support to an entity, the resolution college may, as appropriate: 1° re-examine the preventive recovery plan pursuant to Article L. 613-36 or, where applicable, Article L. 613-37 ; 2°…
I. – Before implementing a measure to reduce the nominal value or conversion of own funds instruments and eligible commitments or a resolution measure, the resolution college shall ensure that a fair, prudent and realistic valuation of the assets and liabilities of the person concerned is carried out by an independent expert. II. – When all the requirements set out in I and IV to IX have been met, the…
I. – The nominal value of additional Tier 1 capital instruments and Tier 2 capital instruments or eligible commitments referred to in VII issued by a person referred to in I of Article L. 613-34 may be reduced. These instruments may also be converted into equity securities mentioned in Chapter II of Title I of Book II or into other forms of ownership. This reduction and conversion take place under…
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75001, Paris France
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is a Registered Trademark of
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75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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