1. Bank regulation -
1.1 PRUDENTIAL REGULATION -
a) General -
(i) EU -
EBA: Report on the exemption of third country undertakings from the requirement to set-up a branch for the provision of banking services to EU financial sector entities -
Status: Final -
The EBA published its report under Article 21c(6) of the Capital Requirements Directive VI on whether to amend the provisions governing the direct provision of core banking services from third countries to EU credit institutions and EU financial sector entities (FSEs). In collaboration with the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority, the EBA conducted a quantitative and qualitative assessment to determine whether third-country undertakings should be allowed to provide core banking services directly to EU FSEs in addition to EU credit institutions without establishing a branch in the EU. The EBA concludes that there is no current evidence to justify amending the current framework under Article 21c since there is already sufficient flexibility, including exemptions for interbank and intragroup transactions, reverse solicitation and certain MiFID-related services...
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