Amendments
Article 1
Open ↗Decision (EU) 2019/322 (ECB/2019/4) is amended as follows: 1. Article 1 is amended as follows: (a) point (2) is replaced by the following: ‘(2) “acquisition of a holding” means: (a) the acquisition of a direct or indirect holding of capital or of voting rights in another entity, including as a result of the establishment of a new entity, other than the acquisition of a qualifying holding within the meaning of Article 22 of Directive 2013/36/EU of the European Parliament and of the Council ( *1 ) ; and (b) any transaction that is equivalent under the relevant national law to such an acquisition; ( *1 ) 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, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC ( OJ L 176, 27.6.2013, p. 338 ).’;" (b) point (17) is replaced by the following: ‘(17) “non-core support services” means ancillary services supporting the principal business of a credit institution including administrative services, customer services, debt collection services, e-signatures or other similar services;’; (c) the following point (19) is added: ‘(19) “regulated entity” means a regulated entity as defined in point (4) of Article 2 of Directive 2002/87/EC of the European Parliament and of the Council ( *2 ) . ( *2 ) Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council ( OJ L 35, 11.2.2003, p. 1 ).’;" (d) the following point (20) is added: ‘(20) “ECB Guide on the supervisory approach to consolidation in the banking sector” means a document with this title containing the principles underpinning the prudential supervisory approach followed by the ECB when determining whether the arrangements implemented by a credit institution resulting from a consolidation ensure the sound management and coverage of its risks, adopted and amended from time to time in accordance with the non-objection procedure and published on the ECB’s website;’; (e) the following point (21) is added: ‘(21) “sensitivity” means a characteristic or factor that may have a negative impact on the ECB’s reputation and/or on the effective and consistent functioning of the Single Supervisory Mechanism, including but not limited to any of the following: (a) the relevant supervised entity has previously been, or is currently, subject to severe supervisory measures such as early intervention measures; (b) the draft decision once adopted will set a new precedent that could bind the ECB in the future; (c) the draft decision once adopted may attract negative media or public attention; or (d) a national competent authority that has entered into close cooperation with the ECB communicates its disagreement with the proposed draft decision to the ECB.’; 2. Article 3 is amended as follows: (a) paragraph 3 is replaced by the following: ‘3. National powers decisions shall not be adopted by means of a delegated decision if national law requires supervisory approval of credit institutions’ strategic measures or if the complexity of the assessment or sensitivity of the matter requires that they are adopted under the non-objection procedure.’; (b) the following paragraph 3a is inserted: ‘3a Heads of work units shall submit a national powers decision that fulfils the criteria for the adoption of delegated decisions set out in Articles 4 to 14 to the Supervisory Board and the Governing Council for adoption under the non-objection procedure if the supervisory assessment of that national powers decision has a direct impact on the supervisory assessment of another decision which is to be adopted under the non-objection procedure.’; (c) paragraph 4 is replaced by the following: ‘4. The delegation of decision-making powers pursuant to paragraph 1 shall apply to: (a) the ECB’s adoption of supervisory decisions; (b) the ECB’s approval of positive assessments where a supervisory decision is not required under national law; (c) the ECB’s approval of replies or reports issued by the ECB at the request of authorities of participating Member States in respect of national powers; (d) the ECB’s adoption of instructions addressed, pursuant to Article 7 of Regulation (EU) No 1024/2013, to the national competent authorities with which the ECB has established close cooperation.’; 3. in paragraph 1 of Article 4, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the acquiring significant supervised entity, on both a consolidated and an individual basis, is limited, which means that:’; 4. in paragraph 1 of Article 5, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the acquiring significant supervised entity as a result of the acquisition, on both a consolidated and an individual basis, is limited, which means that:’; 5. in paragraph 1 of Article 6, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the selling significant supervised entity, on both a consolidated and an individual basis, is limited, which means that:’; 6. in paragraph 1 of Article 7, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the selling significant supervised entity as a result of the sale of assets or liabilities, on both a consolidated and an individual basis, is limited, which means that:’; 7. Article 8 is amended as follows: (a) in paragraph 1, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the significant supervised entity resulting from the merger, on both a consolidated and an individual basis, is limited, which means that:’; (b) paragraph 3 is replaced by the following: ‘3. The assessment of mergers shall be carried out in accordance with the relevant provisions of national law, also taking into consideration any applicable ECB guides, including the ECB Guide on the supervisory approach to consolidation in the banking sector, as well as national competent authorities’ policy stances, guidance or similar acts.’; 8. in paragraph 1 of Article 9, the introductory phrase of point (a) is replaced by the following: ‘(a) the impact on the own funds of the significant supervised entity or entities resulting from the demerger, on both a consolidated and an individual basis, is limited, which means that:’; 9. in paragraph 1 of Article 11, point (b) is replaced by the following: ‘(b) the service provider is a regulated entity that is established in the Union and authorised to perform the outsourced services; or’; 10. paragraph 1 of Article 12 is amended as follows: (a) point (d) is replaced by the following: ‘(d) amendments concerning the share capital of a significant supervised entity where: (i) the related own funds decision, e.g. on the classification of capital instruments as Common Equity Tier 1 instruments or the reduction of own funds, is also delegated; or (ii) the significant supervised entity has classified an issuance in accordance with the provisions of the second subparagraph of Article 26(3) of Regulation (EU) No 575/2013 and the ECB deems that the notification made by the significant supervised entity in accordance with point (b) of that subparagraph complies with the notification requirements.’; (b) the following point (f) is added: ‘(f) amendments that exclusively reflect changes resulting from a merger or a demerger previously approved by the ECB.’.