(4)In its assessments, the Commission has considered the evolution of the supervisory and regulatory arrangements of Serbia and South Korea since the adoption of Commission Implementing Decision (EU) 2019/536 3 and taken into account available sources of information, including the assessment made by the European Banking Authority which recommended that the supervisory and regulatory frameworks applicable to credit institutions in those third countries should be considered as equivalent to the Union legal framework for the purposes of Articles 107(3), 114(7), 115(4), 116(5) and Article 142 (2) of Regulation (EU) No 575/2013. The Commission further notes that Serbia has significantly improved its framework against-money laundering and the financing of terrorism, and that work continues in this respect.
Recital 4
- 3 Commission Implementing Decision (EU) 2019/536 of 29 March 2019 amending Implementing Decision 2014/908/EU as regards the lists of third countries and territories whose supervisory and regulatory requirements are considered equivalent for the purposes of the treatment of exposures in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council ( OJ L 92, 1.4.2019, p. 3 ). ↩