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Preamble
Recitals 11
Part I - GENERAL PROVISIONS (Article 1-2) 2
Part II - ORGANISATION OF THE SSM (Article 3-18) 16
Part III - GENERAL PROVISIONS APPLYING TO THE OPERATION OF THE SSM (Article 19-38) 20
Part IV - DETERMINING THE STATUS OF A SUPERVISED ENTITY AS SIGNIFICANT OR LESS SIGNIFICANT (Article 39-72) 34
- Title 1 - GENERAL PROVISIONS RELATING TO THE CLASSIFICATION AS SIGNIFICANT OR LESS SIGNIFICANT (Article 39-42) 4
- Title 2 - PROCEDURE FOR CLASSIFYING SUPERVISED ENTITIES AS SIGNIFICANT SUPERVISED ENTITIES (Article 43-49) 7
- Title 3 - DETERMINING SIGNIFICANCE ON THE BASIS OF SIZE (Article 50-55) 6
- Title 4 - DETERMINING SIGNIFICANCE ON THE BASIS OF IMPORTANCE FOR THE ECONOMY OF THE UNION OR ANY PARTICIPATING MEMBER STATE (Article 56-58) 3
- Title 5 - DETERMINING SIGNIFICANCE ON THE BASIS OF THE SIGNIFICANCE OF CROSS-BORDER ACTIVITIES (Article 59-60) 2
- Title 6 - DETERMINING SIGNIFICANCE ON THE BASIS OF A REQUEST FOR OR THE RECEIPT OF PUBLIC FINANCIAL ASSISTANCE FROM THE ESM (Article 61-64) 4
- Title 7 - DETERMINING SIGNIFICANCE ON THE BASIS THAT THE SUPERVISED ENTITY IS ONE OF THE THREE MOST SIGNIFICANT CREDIT INSTITUTIONS IN A PARTICIPATING MEMBER STATE (Article 65-66) 2
- Title 8 - ECB DECISION TO DIRECTLY SUPERVISE LESS SIGNIFICANT SUPERVISED ENTITIES PURSUANT TO ARTICLE 6(5)(B) OF THE SSM REGULATION (Article 67-69) 3
- Title 9 - PARTICULAR CIRCUMSTANCES THAT MAY JUSTIFY THE CLASSIFICATION OF A SUPERVISED ENTITY AS LESS SIGNIFICANT ALTHOUGH THE CRITERIA FOR CLASSIFICATION AS SIGNIFICANT ARE FULFILLED (Article 70-72) 3
Part V - COMMON PROCEDURES (Article 73-88) 16
Part VI - PROCEDURES FOR THE SUPERVISION OF SIGNIFICANT SUPERVISED ENTITIES (Article 89-95) 7
Part VII - PROCEDURES FOR THE SUPERVISION OF LESS SIGNIFICANT SUPERVISED ENTITIES (Article 96-100) 5
Part VIII - COOPERATION BETWEEN THE ECB, NCAs AND NDAs WITH REGARD TO MACRO-PRUDENTIAL TASKS AND TOOLS (Article 101-105) 5
Part IX - PROCEDURES FOR CLOSE COOPERATION (Article 106-119) 14
Part X - ADMINISTRATIVE PENALTIES (Article 120-137) 18
Part XI - ACCESS TO INFORMATION, REPORTING, INVESTIGATIONS AND ON-SITE INSPECTIONS (Article 138-146) 9
Part XII - TRANSITIONAL AND FINAL PROVISIONS (Article 147-153) 7

Article 42 - Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries

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Article 42

Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries

1. Subsidiaries established in one or more participating Member States by a credit institution that has its head office in a non-participating Member State or third country shall be assessed separately from the branches of that credit institution when determining whether any of the criteria provided for in Article 6(4) of the SSM Regulation is fulfilled.

2. The following subsidiaries shall be assessed separately when determining whether any of the criteria provided for in Article 6(4) of the SSM Regulation are fulfilled:

((a))

those that are established in a participating Member State;

((b))

those that belong to a group whose parent undertaking has its head office in a non-participating Member State or a third country; and

((c))

those that do not belong to a supervised group within participating Member States.

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