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Article 3 - Involvement of third country supervisory authorities in the assessment process

Comparing 17/02/2016 → 11/12/2025: 0 added, 0 removed, 5 changed Close comparison

1. 1. The consolidating supervisor may decide to involve third country supervisory authorities which participate in the supervisory college pursuant to Article 3(3) of Commission Delegated Regulation (EU) 2016/982025/791 (^{3})(^{1}) in the assessment of applications submitted pursuant to Article 20(1)(a)20(1), point (a), of Regulation (EU) No 575/2013 where the applicant operates in that third country and intends to apply the methodologies concerned to exposures in that third country. In that case, both the consolidating supervisor and thosethe third country supervisory authorities shall reach an agreementagree on the scope of involvement of the third country supervisorythose authorities for the following purposes:

(a)((a)) providingthe provision by the third country supervisory authorities to the consolidating supervisor withof their contribution to the assessment report prepared by the consolidating supervisor;

(b)((b)) addingthe addition as annexes of the contributions referred to in point (a) of this paragraph to the assessment report prepared by the consolidating supervisor.

2. 2. Where the consolidating supervisor decides to involve supervisory authorities of third countries, the consolidating supervisor shall not provide the assessment reports prepared by any relevant competent authority to the third country supervisory authorities without the express consent of that relevant competent authority.

3. 3. The consolidating supervisor shall keep the relevant competent authorities fully informed on the scope, level and nature of involvement of the third country supervisory authorities in the assessment process and the extent to which the assessment report prepared by the consolidating supervisor has benefited from their contributions.

Official text · consolidated version 11/12/2025 (in force) Open full page ↗
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