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Recital 24

Recital 24

(24)The Union framework for third-country branches should be applied without prejudice to the discretion that Member States currently have to require on a general basis that third-country undertakings from certain third countries conduct banking activities in their territory solely through subsidiary institutions authorised in accordance with Title III, Chapter 1 of Directive 2013/36/EU. That requirement might refer to third countries that apply banking prudential and supervisory standards that are not equivalent to the standards under the Member State’s national law or to third countries that have strategic deficiencies in their anti-money laundering and counter-terrorist financing regime.

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