Procedures for notification of decisions
Article 88
1. The ECB shall notify the parties of the following decisions without undue delay in accordance with Article 35: (a) an ECB decision on the withdrawal of an authorisation as a credit institution; (b) an ECB decision on the acquisition of a qualifying holding in a credit institution. 2. The ECB shall notify the relevant NCA without undue delay of any of the following decisions: (a) an ECB decision on an application for authorisation as a credit institution; (b) an ECB decision on the withdrawal of an authorisation as a credit institution; (c) an ECB decision on the acquisition of a qualifying holding in a credit institution. 3. The NCA shall notify the applicant for authorisation of the following decisions: (a) a draft authorisation decision; (b) an NCA decision to reject the application for authorisation where the applicant does not comply with the conditions for authorisation set out in the relevant national law; (c) an ECB decision to object to the draft authorisation decision referred to in (a); (d) an ECB decision of authorisation. 4. The NCA shall notify the relevant national resolution authority of the ECB decision on the withdrawal of an authorisation as a credit institution. 5. The ECB shall notify the European Banking Authority (EBA) of every ECB decision to grant or to withdraw an authorisation as a credit institution as well as of each lapsing of an authorisation. In doing so, the ECB shall specify the reasons for the decisions on the withdrawal of an authorisation or for the lapsing of an authorisation.