CRD 4: EBA publishes final draft ITS on exchanges between authorities regarding qualifying holdings

The European Banking Authority (EBA) has published final draft implementing technical standards (ITS) on the procedures, forms and templates that competent authorities in the EU should use when consulting each other on qualifying holdings.

The objective of the draft ITS is to ensure effective and efficient communications between concerned authorities, both on a cross-border basis and across sectors. The ITS set out a streamlined process, which consists of a single notice to send an information request and respond to it, when competent authorities across the EU consult each other on acquisitions and increases of qualifying holdings in credit institutions. The standards also specify the timeframe for submitting the consultation notice and responding to it and provide a set of templates for this purpose.

The EBA has developed the ITS according to the Capital Requirements Directive (CRD 4), which sets out the legal framework for the prudential assessment of acquisitions by natural or legal persons of qualifying holdings in credit institutions and of further increases of such holdings.