Decision (EU) 2026/2038 of the European Central Bank of 21 August 2026 on delegation of the power to adopt joint decisions on the assessment of group recovery plans (ECB/2026/21)
Decision (EU) 2026/2038 of the European Central Bank of 21 August 2026 on delegation of the power to adopt joint decisions on the assessment of group recovery plans (ECB/2026/21)
Decision (EU) 2026/2038 · Decision · 6 articles
In force
Version historyWe hold this version only; in force from 2026-08-21.
Data as of 2026-10-01 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
For the purposes of this Decision, the following definitions shall apply:
(1)
‘parent undertaking’ means a parent undertaking as defined in Article 2(1), point (6), of Directive 2014/59/EU;
(2)
‘recovery plan’ means a recovery plan as defined in Article 2(1), point (32), of Directive 2014/59/EU;
(3)
‘group recovery plan’ means a group recovery plan as defined in Article 2(1), point (33), of Directive 2014/59/EU;
(4)
‘significant supervised entity’ means a significant supervised entity as defined in Article 2, point (16), of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) ( 6 ) ;
(5)
‘delegated decision’ means a delegated decision as defined in Article 3, point (4), of Decision (EU) 2017/933 (ECB/2016/40);
(6)
‘heads of work units’ means the heads of work units of the ECB to whom the power to adopt joint decisions on the assessment of group recovery plans is delegated;
(7)
‘non-objection procedure’ means the procedure set out in Article 26(8) of Regulation (EU) No 1024/2013 and further specified in Article 13g of Decision ECB/2004/2;
(8)
‘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) where 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; (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.
1. This Decision specifies the criteria for the delegation of decision-making powers to the heads of work units of the ECB for the adoption of joint decisions on the review and assessment of group recovery plans as referred to in Article 8(2), point (a), of Directive 2014/59/EU, and on the drawing up of recovery plans on an individual basis as referred to in Article 8(2), point (b), of that Directive, where at least one of the group entities covered by the relevant joint decision is a significant supervised entity (hereinafter referred to as ‘joint decisions on the assessment of group recovery plans’).
2. The delegation of decision-making powers is without prejudice to the supervisory assessment to be performed for the purposes of taking joint decisions on the assessment of group recovery plans.
Delegation of joint decisions on the assessment of group recovery plans
1. In accordance with Article 4 of Decision (EU) 2017/933 (ECB/2016/40), the Governing Council hereby delegates the power to adopt joint decisions on the assessment of group recovery plans to the heads of work units nominated by the Executive Board in accordance with Article 5 of that Decision.
2. Joint decisions on the assessment of group recovery plans in accordance with Article 2(1) shall be adopted by means of a delegated decision where the criteria for the adoption of delegated decisions, as set out in Article 4, are met.
3. Joint decisions on the assessment of group recovery plans shall not be adopted by means of a delegated decision if the complexity of the assessment or the sensitivity of the matter require that they are adopted under the non-objection procedure or if the supervisory assessment of those decisions has a direct impact on the supervisory assessment of another decision which is to be adopted under the non-objection procedure.
4. Joint decisions on the assessment of group recovery plans shall not be adopted by means of a delegated decision in the absence of an agreement on a joint decision between the consolidating supervisor and all the competent authorities of subsidiaries, in accordance with Article 8(3) and (4) of Directive 2014/59/EU.
Criteria for the adoption of joint decisions on the assessment of group recovery plans by delegated decision
1. Joint decisions on the assessment of group recovery plans shall be adopted by means of a delegated decision where the ECB and the relevant competent authorities agree the following:
(a)
the parent undertaking is not required to submit a revised recovery plan within a specified deadline under Article 6(5) of Directive 2014/59/EU;
(b)
no recovery plan on an individual basis is to be drawn up for any institution that is part of the group under Article 8(2), point (b), of Directive 2014/59/EU.
2. The assessment of the criteria referred to in paragraph 1 shall be carried out in accordance with Articles 5 to 9 of Directive 2014/59/EU, as transposed into national law, and Commission Delegated Regulation (EU) 2016/1075, also taking into consideration technical standards and guidelines of the European Supervisory Authorities ( 7 ) .
This Decision shall not apply in cases where the group recovery plan was submitted to the ECB and the other competent authorities prior to the entry into force of this Decision.
