2021, as amended by Legal Notices 148
2023,44 and 153
2025. 1.
these regulations is the Supervisory Consolidation (Credit Institutions) Regulations. Citation and purpose.
these regulations is to implement Articles 2
the CRD. 2. requires -
the CRR; "consolidated situation" shall have the same meaning as that assigned to it in point
the CRR; "EU parent investment firm" shall have the same meaning as that assigned to it in point
the CRR; "European regulatory authority" means an authority which is situated in a country or territory outside Malta that is a Member State and is empowered by law or regulation to supervise investment firms or credit institutions; "financial institution" shall have the same meaning as that assigned to it in point
the CRR and shall include the entities referred to in points
the CRD; "parent credit institution" shall have the same meaning as that assigned to the term "parent credit institution in a Member State" in point
the CRR; "parent investment firm" shall have the same meaning as that assigned to the term "parent investment firm in a Member State" in point
the CRR; *See Legal Notice 36
the CRR; "third country regulatory authority" means an authority which is in a country or territory that is not a Member State and is empowered by law or regulation to supervise credit institutions.
the Act, for the purposes
applying the requirements and supervisory powers laid down in these regulations on a consolidated or subconsolidated basis in accordance with the Act and any regulations and Banking Rules made or issued thereunder transposing the CRD, with any binding legal instruments issued under the CRD and with the CRR, the terms "institution", "EU parent institution" and "parent undertaking" shall also include the entities listed in paragraphs (a), (b) and (c)
article 2(1A)
the Act: Provided further that, for the purposes
applying the requirements and supervisory powers laid down in regulations 6
article 2(1B)
the Act. PART I Consolidated Supervision Responsibility
the competent authority for consolidated supervision Responsibility
the competent authority for consolidated supervision. Amended by: L.N. 148
2023; L.N. 44
2025. 3.
article 11B
the Act, the competent authority shall exercise supervision on a consolidated basis: (
2025. (b) where a parent undertaking is a parent investment firm established in Malta or in another Member State or an EU parent investment firm and at least one
its subsidiaries is a credit institution supervised by the competent authority: SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 Provided that, where there are several credit institutions, the competent authority shall exercise supervision on a consolidated basis where it supervises the credit institution with the largest balance sheet total; (c) where the parent
a credit institution supervised by the competent authority on an individual basis is a parent financial holding company established in Malta or in another Member State, a parent mixed financial holding company established in Malta or in another Member State, an EU parent financial holding company or EU parent mixed financial holding company; (d) where two or more institutions authorised in the European Union, one
which is a credit institution supervised by the competent authority, have the same parent financial holding company established in Malta or in another Member State, parent mixed financial holding company established in Malta or in another Member State, EU parent financial holding company or EU parent mixed financial holding company, and: (
this paragraph, the term "institution" shall also include investment firms; (da) Deleted by Legal Notice 44
2025. (e) where consolidation is required pursuant to Article 18
the CRR and the competent authority supervises the credit institution with the largest balance sheet total.
derogation from sub-regulation
the balance sheet totals
those supervised credit institutions is higher than that
the credit institutions supervised on an individual basis by any other European regulatory authority.
the competent authority with the other relevant European regulatory authorities and a European regulatory authority may be appointed to exercise supervision on a consolidated basis where the application
the criteria referred to in such sub-regulation
their activities in the relevant Member States, or the need to ensure the continuity
supervision on a consolidated basis by the same European regulatory authority. In these cases, before such decision is taken the EU parent institution, EU parent financial holding company, EU parent mixed financial holding company or the institution with the largest balance sheet total, as applicable, shall have the right to be heard.
any agreement falling within subregulation
credit institutions in accordance with Articles 14
the CRD, in particular regarding the legal and organisational structure
the group and its governance. Functions
the competent authority with respect to supervision on a consolidated basis. 4.
the Act and any regulations made or Rules issued thereunder transposing the requirements
the CRD, by any binding legal instrument issued under the CRD and by the CRR, the competent authority, acting as consolidating supervisor, shall carry out the following tasks: (a) co-ordination
the gathering and dissemination
relevant or essential information in going concern and emergency situations; and (b) planning and coordination
supervisory activities in going concern situations, including in relation to the activities relating to supervision on a consolidated basis in cooperation with the European regulatory authorities; and (c) planning and co-ordination
supervisory activities in cooperation with the European regulatory authorities involved, and if necessary with ESCB central banks, in preparation for and during emergency situations, including adverse developments in institutions or in financial markets using, where possible, existing channels
communication for facilitating crisis management. These include exceptional measures referred to in regulation 9
joint assessments, the implementation
SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 contingency plans and communication to the public.
Regulation (EU) No 1093/2010.
the CRD or any European regulatory authority does not cooperate with the consolidating supervisor to the extent required in carrying out the tasks in Article 112
the CRD, it may refer the matter to the EBA and request its assistance under Article 19
Regulation (EU) No 1093/2010. 5.
Regulation (EU) No 1093/ 2010, or a situation
adverse developments in markets arises, which potentially jeopardises the market liquidity and the stability
the financial system in any
the Member States where entities
a group have been authorised or where significant branches as referred to in regulation 14 are established and where the competent authority is the consolidating supervisor, it shall, subject to confidentiality requirements in the Malta Financial Services Authority Act and any other applicable law, alert as soon as is practicable the EBA and the authorities referred to in Articles 58
the CRD and it shall communicate to the said authorities all the information that is essential for the pursuance
their tasks. Notifications in emergency situations. Cap. 330.
communication with ESCB central banks.
reporting to the various authorities involved in supervision. 6.
the group.
the subsidiary
a parent undertaking which is a credit institution, it may, by bilateral agreement in accordance with Article 28
Regulation (EU) No 1093/2010, delegate its responsibility for supervision
such subsidiary to the European regulatory authority which authorised and supervises the parent undertaking so that the latter assumes responsibility for supervising the subsidiary in accordance with the CRD. The competent authority shall forward the content
such agreements to the EBA.
the Act is established in a Member State other than Malta, the co-ordination and co-operation arrangements referred to in sub-regulations
the CRD and is established in Malta, the coordination and cooperation arrangements referred to sub-regulations
the colleges
supervisors by the consolidating supervisor. Amended by: L.N. 44
2025; L.N. 153
2025. 7.
supervisors to facilitate the exercise
the tasks referred to in regulation 4, regulation 5
sub-regulation
a college
supervisors, the competent authority shall contribute towards the provision
a framework for the consolidating supervisor, EBA and other European regulatory authorities or third country regulatory authorities forming part
that college, to carry out the following tasks: (a) exchange information with European regulatory authorities and third country regulatory authorities forming part
that college and with EBA in accordance with Article 21
Regulation (EU) No 1093/2010; (b) agreeing on voluntary entrustment
tasks and voluntary delegation
responsibilities where appropriate; (c) determining supervisory examination SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 programmes referred to in Article 99
the CRD based on a risk assessment
the group in accordance with Article 97
the CRD; (d) increasing the efficiency
supervision by removing unnecessary duplication
supervisory requirements, including in relation to the information requests referred to in Article 114 and Article 117
the CRD; (e) consistently applying the prudential requirements under the CRD and the CRR across all entities within a group
institutions, without prejudice to the options and discretions available in European Union law; and (f) applying Article 112
the CRD taking into account the work
other fora that may be established in that area.
supervisors where all the cross-border subsidiaries
an EU parent institution, an EU parent financial holding company or an EU parent mixed financial holding company have their head
fices in third countries: Provided that the third countries’ regulatory authorities are subject to confidentiality requirements that are equivalent to the requirements laid down in the Malta Financial Services Authority Act and any other applicable law. Cap. 330.
a college
supervisors, shall co-operate closely with the EBA and all the European regulatory authorities and third country regulatory authorities forming part
the relevant college
supervisors. The confidentiality requirements under the Malta Financial Services Authority Act and any other applicable law shall not prevent the competent authority from exchanging confidential information within colleges
supervisors. The establishment and functioning
colleges
supervisors shall not affect the rights and responsibilities
the competent authority under the provisions
the Act, and any regulations made or Rules issued thereunder transposing the requirements
the CRD, under any binding legal instrument issued under the CRD, and under the CRR. Cap. 330.
these regulations, it shall establish and manage the colleges
supervisors based on written arrangements referred to in regulation 6, determined after consultation with European regulatory authorities and third country regulatory authorities concerned. 7 8 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22
a college
supervisors when: (a) it is responsible for the supervision
credit institutions which are subsidiaries
an EU parent institution, an EU parent financial holding company or an EU parent mixed financial holding company; and (b) Malta is the host Member State where significant branches as referred to in regulation 14 are established.
the college and shall decide which European regulatory authorities and third country regulatory authorities, where relevant, participate in a meeting or in an activity
the college. The decision shall take into account the relevance
the supervisory activity to be planned or coordinated for those authorities, and in particular, the potential impact on the stability
the financial system in the Member States concerned and, in particular, in emergency situations, based on the information available at the relevant time and the obligations referred to in regulation 14
the college fully informed, in advance,
the organisation
the meetings
the college, about the main issues to be discussed and the activities to be considered and shall also keep all the members
the college fully informed, in a timely manner,
the actions taken in those meetings or the measures carried out. Cap. 330.
the Malta Financial Services Authority Act and any other applicable law, inform the EBA
the activities
the college
supervisors, including in emergency situations, and communicate to the EBA all information that is
particular relevance for the purposes
supervisory convergence.
a disagreement between the competent authorities on the functioning
the supervisory colleges, the competent authority may refer the matter to the EBA and request its assistance in accordance with Article 19
Regulation (EU) No 1093/2010.
sub-regulation
subsidiaries
an EU parent institution, an EU parent financial holding company or an EU parent mixed financial holding company; (b) the European regulatory authorities
a host member state where significant branches, as referred to in Article 51
the CRD, are established; (
the competent authority and all the European regulatory authorities concerned, to the requirements under Title VII, Chapter 1, Section II
the CRD, where applicable, Chapter 1, Section 2
Directive (EU) 2019/2034, the Malta Financial Services Authority Act and any other applicable law: Provided that the competent authority shall, when providing its opinion on whether the confidentiality requirements
a third country regulatory authority are equivalent, take into consideration any assessment carried out by the EBA on the equivalence
the confidentiality regime
the relevant third country regulatory authority.
the Act and, or Article 21a
the CRD, the competent authority may participate in the relevant college
supervisors. 8.
subsidiaries
an EU parent institution, EU parent financial holding company or EU parent mixed financial holding company which are credit institutions, shall do everything within its power to reach a joint decision with the other European regulatory authorities: (a) on the application
Articles 73 and 97
the CRD to determine the adequacy
the consolidated level
own funds held by the group
institutions with respect to its financial situation and risk profile and the required level
own funds for the application
point (a)
the CRD to each entity within the group
institutions and on a consolidated basis; (b) on measures to address any significant matters and material findings relating to liquidity supervision, including relating to the adequacy
the organisation and the Joint decisions on specific prudential requirements. 10 [ S.L. 371.22 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) treatment
risks as required pursuant to Article 86
the CRD and relating to the need for institution-specific liquidity requirements in accordance with Article 105
the CRD; (c) on any guidance on additional own funds referred to in Article 104b
the CRD.
sub-regulation
the group
institutions in accordance with Article 104a
the CRD to the other relevant European regulatory authorities; (b) for the purpose
sub-regulation
the liquidity risk profile
the group
institutions in accordance with Articles 86 and 105
the CRD, to the other relevant European regulatory authorities; (c) for the purpose
sub-regulation
the group
institutions in accordance with Article 104b
the CRD, to the other relevant European regulatory authorities.
the reports referred to in sub-regulation
subsidiaries performed by the competent authority and, or relevant European regulatory authorities in accordance with Articles 73, 97, 104a and 104b
the CRD.
disagreement, the competent authority shall, at the request
any
the other European regulatory authorities concerned, consult the EBA: Provided that the competent authority, when it is the consolidating supervisor, may consult the EBA on its own initiative.
such a joint decision within the time period referred to in sub-regulation
the CRD, a decision on the application
Articles 73, 86, 97, 104
the CRD shall be taken by the competent authority, where it is acting as the consolidating supervisor, on a consolidated SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 basis, after duly considering the risk assessment
subsidiaries performed by the relevant European regulatory authorities: Provided that: (a) if, at the end
the time period referred to in sub-regulation
the European regulatory authorities concerned have referred the matter to the EBA in accordance with Article 19
Regulation (EU) No 1093/2010, the competent authority shall defer its decision and await any decision the EBA may take in accordance with Article 19
that Regulation. The competent authority shall take its decision in conformity with the decision
the EBA. The time period referred to in sub-regulation
Regulation (EU) No 1093/2010; (b) where the competent authority is not acting as consolidated supervisor but is responsible for the supervision
subsidiaries
an EU parent institution or an EU parent financial holding company or an EU parent mixed financial holding company, it may refer the matter to the EBA in accordance with Article 19
Regulation (EU) No 1093/2010. The matter shall not be referred to the EBA after the end
the time period referred to above in sub-regulation
a subsidiary
an EU parent credit institution or an EU parent financial holding company or an EU parent mixed financial holding company, which is a credit institution, and in the absence
a joint decision in terms
this regulation within the time period referred to in Article 113
the CRD, the competent authority shall decide on the application
Articles 73, 86, 97, 104
the CRD on an individual or sub-consolidated basis, after duly considering the views and reservations expressed by the consolidating supervisor: Provided that if at the end
the time period referred to in Article 113
the CRD, any
the European regulatory authorities concerned have referred the matter to the EBA in accordance with Article 19
Regulation (EU) No 1093/2010, the competent authority shall defer its decision and await any decision that the EBA shall take in accordance with Article 19
the said Regulation. The competent authority shall take its decision in conformity with the decision
the EBA. The time period referred to above shall be deemed to be the conciliation period within the meaning
the said Regulation:
subsidiaries
an EU parent institution or an EU parent financial holding company or an EU parent mixed financial holding company, it may, in the event
any disagreement, refer a dispute to the EBA on its own initiative but prior to a joint decision being made, provided that no referral shall be made once the time period specified in Article 113
the CRD has expired.
the competent authority or the other European regulatory authorities, as applicable, expressed during the time period referred to in sub-regulation
the CRD shall be recognised as determinative and shall be applied by the competent authority, where applicable.
sub-regulations
subsidiaries
an EU parent institution or an EU parent financial holding company or an EU parent mixed financial holding company which are credit institutions, it may make a written and fully reasoned request to the consolidating supervisor to update the decision on the application
the CRD. In those exceptional circumstances, such update may be addressed on a bilateral basis between the competent authority and the consolidating supervisor: Provided that, where the competent authority is the consolidating supervisor, it shall update the decisions at the request
the European regulatory authorities responsible for the supervision
subsidiaries
an EU parent institution or an EU parent financial company or an EU parent mixed financial holding company. The competent authority may address the update to the European regulatory authority making the request, on a bilateral basis. Co-operation with other authorities. 9.
any information which is essential or relevant for the exercise
their respective supervisory tasks under the CRD, and the CRR. The competent authority shall communicate on request all relevant information and shall communicate on its own initiative all essential information.
the CRD and the CRR in accordance with Regulation (EU) No 1093/2010. Such cooperation shall include the provision to the EBA
all information necessary to carry out its duties under the CRD and the CRR and under Regulation (EU) No 1093/2010, in accordance with Article 35
Regulation (EU) No 1093/2010.
sub-regulation
the financial soundness
an institution or a financial institution in another Member State and shall include, in particular, the following items: (a) identification
the group’s legal structure and the governance structure including organisational structure, covering all regulated entities, non-regulated entities, nonregulated subsidiaries and significant branches belonging to the group, and the parent undertakings, in accordance with the relevant provisions
the Acts and any regulations or Rules made thereunder transposing the requirements
the CRD; (b) identification
the European regulatory authorities
the regulated entities in the group, as the case may be; (c) procedures for the collection
information from the institutions in a group and the verification
that information; (d) adverse developments in institutions or in other entities
a group, which could seriously affect the institutions; and (e) significant penalties and exceptional measures taken by the competent authority in accordance with the CRD, including the imposition
a specific own fund requirement under Article 104
the CRD and the imposition
any limitation on the use
Advanced Measurement Approach for the calculation
the own funds requirements under Article 312
the CRR.
parent undertakings with all relevant information. In determining the extent
relevant information, the importance
those subsidiaries within the financial system in those Member States shall be taken into account.
a credit institution controlled by an EU parent institution, it shall whenever possible contact the consolidating supervisor when it needs information regarding the implementation
approaches and methodologies set out in the CRD and the CRR that may already be available to that consolidating supervisor.
importance for these European regulatory authorities’ supervisory tasks: (a) changes in the shareholder, organisational or management structure
credit institutions in a group, which require the approval or authorization
the competent authority; and S.L. 371.16. (b) significant penalties or exceptional measures taken by the competent authority, including the imposition
a specific own funds requirement under the Banking Act (Supervisory Review) Regulations, and the imposition
any limitation on the use
the advanced measurement approaches for the calculation
the own funds requirements under Article 312
the CRR: Provided that the competent authority shall always consult the consolidating supervisor for the purposes
this paragraph and may decide not to consult European regulatory authorities in cases
urgency or where such consultation could jeopardise the effectiveness
its decision. In such cases, the competent authority shall, without delay, inform the European regulatory authorities after taking its decision.
the following situations: (
supervising the obliged entities listed in points
Directive (EU) 2015/849 for compliance with that Directive within their respective competences and shall provide them with information relevant for their respective tasks under the CRD, the CRR and under Directive (EU) 2015/849, provided that such cooperation and information exchange do not impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law
Malta. 10.
supervision on a consolidated basis, mixed-activity holding companies and their subsidiaries, or subsidiaries
an institution, a financial holding company or mixed financial holding company, which are not included within the scope
supervision on a consolidated basis,
any information which would be relevant for the purposes
supervision in accordance with the relevant provisions
the Acts, and any regulations or Rules made thereunder transposing the requirements
and Chapter 3
the CRD.
the Act is not included in supervision on a consolidated basis under one
the cases provided for in Article 19
the CRR, the competent authority may ask the parent undertaking
such credit institution for information which may facilitate supervision
that subsidiary.
a credit institution, a financial holding company or mixed financial holding company which are not included within the scope
supervision on a consolidated basis for information which would be relevant for the purpose
supervising those subsidiaries. In such a case, the procedures for transmitting and verifying the information set out in regulation 16 shall apply.
its subsidiaries that are institutions are situated in different Member States, the competent authority shall communicate to the European regulatory authorities concerned all the relevant information which may allow or aid the exercise
supervision on a consolidated basis.
the parent undertaking to ask the parent undertaking to provide any information which would be relevant for the purposes
supervision on a consolidated basis. Such information shall be transmitted to the competent authority by the European regulatory authority concerned. Exchange
information. 15 16 [ S.L. 371.22 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS)
regulation 3, it shall, upon request by the European regulatory authority responsible for exercising such supervision, require the parent undertaking to provide any information relevant for the purposes
supervision on a consolidated basis and the competent authority shall transmit such information to the European regulatory authority making the request.
financial holding companies, mixed financial holding companies, financial institutions or ancillary services undertakings, the collection or possession
information shall not imply that the competent authority is required to play a supervisory role in relation to those institutions or undertakings standing alone.
information does not imply that the competent authority plays a supervisory role in relation to the mixed-activity holding company and those
its subsidiaries which are not credit institutions, or to subsidiaries
a credit institution, a financial holding company or mixed financial holding company, which are not included within the scope
supervision on a consolidated basis. Co-operation with European regulatory authorities and the Commission. 11.
supervising insurance undertakings in other Member States. Without prejudice to its responsibilities, the competent authority shall provide the authorities referred to in this subregulation with any information likely to simplify their task and to allow supervision
the activity and overall financial situation
the undertakings they supervise.
a group with a parent mixed financial holding company, but is not the coordinator in accordance with Article 10
Directive 2002/87/EC, the competent authority shall cooperate with the coordinator for the purpose
applying the CRD and the CRR on a consolidated basis. In order to facilitate and establish effective cooperation, the competent authority shall have written coordination and cooperation arrangements with SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 the coordinator in place.
a group with a mixed parent financial holding company, but is not the coordinator in accordance with Article 10
Directive 2002/87/EC, the competent authority shall cooperate with the consolidating supervisor for the purposes
applying the CRD and the CRR on a consolidated basis. In order to facilitate and establish effective cooperation, the competent authority shall have written coordination and cooperation arrangements with the consolidating supervisor in place.
supervision on a consolidated basis, and in particular any exchange
information between the competent authority and European regulatory authorities which is provided for in the CRD, shall be subject to professional secrecy requirements at least equivalent to those pursuant to the Malta Financial Services Authority Act and the Act. Cap. 330.
the financial holding companies or mixed financial holding companies referred to in Article 11
the CRR. Such a list shall be communicated to the European regulatory authorities, to the EBA and to the Commission. 12.
the Act, and
any regulations made or Rules issued thereunder transposing the requirements
the CRD,
any binding legal instrument issued under the CRD and
the CRR, may, in specific cases, request a European regulatory authority to verify information concerning an institution, a financial holding company, a mixed financial holding company, a financial institution, an ancillary services undertaking, a mixed-activity holding company, a subsidiary which is an insurance company or other undertaking providing investment services which is subject to authorisation, or a subsidiary
an institution, a financial holding company or mixed financial holding company which is not included within the scope
supervision on a consolidated basis, situated in another Member State. The competent authority may carry out the verification itself, or if it so wishes participate in the verification.
its competence, act upon it by either carrying out the verification itself, by allowing the European regulatory authority making the request to carry out such verification or by allowing an auditor or expert to carry out such verification. The European regulatory authority making the request may participate in the verification where it does not carry out the Request for verification
information. 17 18 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 verification itself. Third country consolidated supervision. 13.
the Act, the parent undertaking
which is an institution or a financial holding company or mixed financial holding company, the head
fice
which is established in a third country, is not subject to consolidated supervision, the competent authority shall assess whether the credit institution is subject to consolidated supervision by a third country regulatory authority which is equivalent to that governed by the principles laid down in this regulation and the requirements
Part One, Title II, Chapter 2
the CRR.
the parent undertaking or
any
the regulated entities authorised in the Union or on its own initiative. The competent authority shall consult the other European regulatory authorities.
third country regulatory authorities are likely to achieve the objectives
consolidated supervision as defined in this regulation, in relation to credit institutions licensed in terms
the Act, the parent undertaking
which has its head
fice in a third country. For this purpose, the competent authority shall consult the EBA before making a decision.
such equivalent supervision, the competent authority shall apply the provisions
the Act, any regulations or Rules made thereunder transposing the requirements
the CRD,
any binding legal instrument issued under the CRD and
the CRR to the credit institution mutatis mutandis or apply other appropriate supervisory techniques which achieve the objectives
supervision on a consolidated basis
institutions. Such supervisory techniques shall be agreed upon by the competent authority, as consolidating supervisor, after consultation with other European regulatory authorities involved. The supervisory techniques shall be designed to achieve the objectives
consolidated supervision as set out in this regulation and shall be notified to other European regulatory authorities involved, the EBA and the Commission.
a financial holding company or mixed financial holding company with its head
fice in the European Union, and apply the provisions on consolidated supervision to the consolidated position
that financial holding company or the consolidated position
the institutions
that mixed financial holding company.
SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 19 the CRD, request the Commission to submit proposals to the Council to negotiate agreements with one or more third countries regarding the means
exercising supervision on a consolidated basis over the following: (a) credit institutions the parent undertakings
which have their head
fices in a third country; (b) credit institutions situated in third countries the parent undertakings
which, whether institutions, financial holding companies or mixed financial holding companies, have their head
fices in the Union. PART II Establishment
Significant Branches 14.
the CRD applies, or to the European regulatory authority
the home Member State
such credit institution, for that branch to be considered as significant.
the branch in terms
deposits exceeds 2% in Malta; (b) the likely impact
a suspension or closure
the operations
the credit institution on systemic liquidity and the payment, clearing and settlement systems in Malta; and (c) the size and the importance
the branch in terms
number
clients within the context
the banking or financial system
Malta.
the home Member State and, where Article 112
the CRD applies, the European regulatory authority which is the consolidating supervisor, on the designation
a branch as being significant.
receipt
a request under the sub-regulation
two months on whether the branch is significant. In taking its decision, Establishment
significant branches (Host Authority). 20 [ S.L. 371.22 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) the competent authority shall take into account any views and reservations
the European regulatory authority which is the consolidating supervisor or the European regulatory authority
the home Member State.
the home Member State does not consult the competent authority, or where, following such consultation, the competent authority maintains that operational steps required by the Act and any regulations made or Rules issued thereunder transposing the requirements
the CRD, are not adequate, the competent authority may refer the matter to the EBA and request its assistance in accordance with Article 19
Regulation (EU) No 1093/2010. Establishment
significant branches (Home Authority). 15.
a credit institution licensed in terms
the Act which has established a branch in another Member State or is the consolidating supervisor, it may receive a request from the European regulatory authority
the host Member State where the branch is established, for such branch to be considered as significant. This request shall provide reasons for considering the branch to be significant with particular regard to the following: (a) whether the market share
the branch in terms
deposit exceeds 2% in the host Member State; (b) the likely impact
a suspension or closure
the operations
the credit institution on systemic liquidity and the payment and clearing and settlement systems in the host Member State; and (c) the size and the importance
the branch in terms
number
clients within the context
the banking or financial system
the host Member State.
a branch as significant, with the European regulatory authority
the host Member State where the branch is established and, where Article 112
the CRD applies, the European regulatory authority which is the consolidating supervisor.
the host Member State, where a SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 21 significant branch is established, the information referred to in regulation 9
the host Member State.
an emergency situation as referred to in regulation 5
their statutory tasks, including the conduct
monetary policy and related liquidity provision, the oversight
payments, clearing and settlement systems, and safeguarding the stability
the financial system, and it shall communicate all information that is essential for the pursuance
their tasks; (b) the ESRB where such information is relevant for the exercise
its statutory tasks; and (c) the departments
government administrations in other Member States responsible for law on the supervision
institutions, financial institutions and insurance undertakings and to inspectors acting on behalf
those departments.
the host Member State where the significant branch is established, the results
the risk assessment carried out in terms
the Banking Act (Supervisory Review) Regulations with respect to the credit institution licensed in Malta with such a branch and, where applicable, joint decisions on institution specific prudential requirements taken pursuant to Article 113
the CRD. The competent authority shall also communicate decisions required by Articles 104 and 105
the CRD in so far as those assessments and decisions are relevant to the branch. S.L. 371.16.
the host Member State where the significant branch is established about operational steps required by the Acts and any regulations made or Rules issued thereunder transposing the requirements
the CRD, where relevant for liquidity risks in the host Member State’s currency. 16. The designation
a branch as being significant shall not affect the rights and responsibilities
the competent authority under the Act, and any regulations or Rules made thereunder transposing the requirements
the CRD and any binding legal instruments issued under the CRD. Establishment
significant branches (General). 22 [ S.L. 371.22 Colleges
supervisors in the context
branches. SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) 17.
supervisors to facilitate the cooperation in terms
regulation 15
the CRD. The establishment and functioning
the college shall be based on written arrangements determined after consulting the European regulatory authorities concerned by the competent authority. The competent authority shall decide which European regulatory authorities participate in a meeting or in an activity
the college.
the relevance
the supervisory activity to be planned or coordinated for those European regulatory authorities, in particular, the potential impact on the stability
the financial system in the Member States concerned, and, in particular, in emergency situations based on the information available at the relevant time and the obligations referred to in regulation 15
the college fully informed, in advance,
the organisation
such meetings, the main issues to be discussed and the activities to be considered. The competent authority shall also keep all the members
the college fully informed, in a timely manner,
the actions taken in those meetings or the measures carried out. Prudential supervision
an institution. S.L. 371.11 18.
a credit institution, including that
the activities it carries out in accordance with the European Passport Rights for Credit Institutions Regulations shall be the responsibility
the competent authority when such a credit institution is licensed in Malta, without prejudice to those provisions
the CRD which give responsibility to the European regulatory authorities
the host Member State.
sub-regulation
regulation 3.
a credit institution authorised in a Member State other than Malta, is established in Malta, any measures taken by the competent authority with respect to such branch shall not allow discriminatory or restrictive treatment on the basis that the credit institution to which the branch belongs is authorised in another Member State. SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS) [ S.L. 371.22 23 PART III Supervision
Mixed Activity Holding Companies and their subsidiaries and
Mixed Financial Holding Companies 19.
one or more credit institutions licensed in terms
the Act is a mixed activity holding company, the competent authority shall, by approaching the mixed activity holding company and its subsidiaries either directly or via subsidiaries that are credit institutions, require them to supply any information which would be relevant for the purpose
supervising those subsidiaries. Supervision
mixed activity holding companies and their subsidiaries.
its subsidiaries is an insurance undertaking, the procedure set out in regulation 11 may also be used. If a mixed-activity holding company or one
its subsidiaries is situated in a Member State other than Malta but is the parent undertaking
a credit institution licensed in terms
the Act, on-the-spot verifications
information shall be carried out in accordance with the procedure set out in regulation 12.
the CRR, where the parent undertaking
one or more credit institutions licensed in terms
the Act is a mixed-activity holding company, the competent authority shall exercise general supervision over transactions between the credit institutions and the mixed-activity holding company and its subsidiaries. 20.
the CRD, and under Directive 2002/87/EC, in particular in terms
risk-based supervision, the competent authority may, as consolidating supervisor, after consulting the other European regulatory authorities responsible for the supervision
subsidiaries, apply only the latter Directive to that mixed financial holding company.
the CRD and under Directive 2009/138/EC, in particular in terms
risk-based supervision, the competent authority may, where it is the consolidating supervisor, in agreement with the group supervisor in the insurance sector, apply to that mixed financial holding company only the provisions
the Directive relating to the most significant financial sector as defined in Article 3
Directive 2002/87/EC. Supervision
mixed financial holding companies. 24 [ S.L. 371.22 SUPERVISORY CONSOLIDATION (CREDIT INSTITUTIONS)
the decisions taken under sub-regulations
AI explanation based on the official legal text. Indicative, not a substitute for legal advice.