Criteria for the adoption of delegated decisions on the extension of deadlines for obligations and for requirements imposed in a previous ECB supervisory decision
Article 7
1. Decisions on the extension of deadlines for obligations and for requirements imposed in a previous ECB supervisory decision shall be taken by means of a delegated decision if all the following criteria are met: (a) the supervised entity requests the extension to the deadline and the request is submitted to the ECB at least 30 days before the deadline expires; (b) the extension does not exceed the duration of the period prior to the initial deadline and does not exceed 12 months; (c) the extension does not adversely affect the rights of the supervised entity. 2. Notwithstanding paragraph 1, decisions on the extension of deadlines shall not be taken by means of a delegated decision if any of the following apply: (a) the extension entails a change in the original scope of the obligation or the requirement in a previous ECB supervisory decision, or in the underlying assessment on which that previous decision was based; (b) the extension concerns a deadline which has already been extended; (c) the extension is requested by a credit institution whose score for governance as set out in the last available SREP decision is 4; (d) the extension is requested by a credit institution whose margin of own funds above the Pillar 2 capital guidance as set out in the last available SREP decision is lower than 100 basis points in terms of CET1 ratio; (e) the extension is requested by a credit institution to which during the preceding three years early intervention measures as provided for in Article 27 of Directive 2014/59/EU of the European Parliament and of the Council ( 12 ) have been addressed; (f) the extension is not permitted under the applicable law. 3. The assessment of requests for the extension of deadlines shall be carried out having regard to (a) whether the extension is reasonable, taking into account the justification for the requested extension provided by the credit institution and (b) whether the extension jeopardises the effective implementation of the supervisory measure.