European Union: European Banking Authority Consults On Common Procedures For Information Exchange Between National Regulators On Proposed Acquisitions

On November 10, 2015, the European Banking Authority published a consultation paper on draft Implementing Technical Standards for common procedures that national regulators in the EU should use when consulting with each other about prudential assessments for proposed acquisitions and increases of qualifying holdings in credit institutions. The draft ITS set out the proposed process and timeframes for requests of information and includes proposed templates and forms that are to be used by national regulators. Comments on the consultation are due by February 10, 2016.

The consultation paper is available at:

http://www.eba.europa.eu/documents/10180/1267841/EBA-CP-2015-20+CP+on+ITS+on+qualifying+holdings.pdf.

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