Intra-group transactions with mixed holding companies

(1) A CRR credit institution that is a subsidiary undertaking of a mixed undertaking must notify significant intra-group transactions with mixed holding companies or their other subsidiary undertakings to the supervisory authority, the Deutsche Bundesbank, and, where the supervisory authority is the European Central Bank, also to the Federal Institute. The Federal Ministry of Finance is empowered, by statutory instrument not requiring the consent of the Bundesrat, to be issued in consultation with the Deutsche Bundesbank, to determine in more detail: 1. the types of transactions to be notified, and the threshold values by which intra-group transactions are to be regarded as significant; 2. the ceilings for intra-group transactions, and restrictions as to the type of intra-group transactions; 3. the type, scope, timing, and form of the particulars, and the permissible data media and transmission channels. The Federal Ministry of Finance may, by statutory instrument, transfer the power to the Federal Institute, on the condition that the statutory instrument is issued in agreement with the Deutsche Bundesbank. Before issuing the statutory instrument, the institutions' umbrella associations must be heard.
(2) The CRR credit institution within the meaning of subsection (1), first sentence, may, without prejudice to the validity of the legal transactions, carry out significant intra-group transactions with mixed holding companies or their other subsidiary undertakings only on the basis of a unanimous resolution of all its managers; section 13(2), second to fifth sentences, applies correspondingly.
(3) Without prejudice to the validity of the legal transactions, the CRR credit institution within the meaning of subsection (1), first sentence, may not, without the supervisory authority's consent, carry out significant intra-group transactions with mixed holding companies or their other subsidiary undertakings that exceed the ceilings set out in the statutory instrument under subsection (1), second sentence, or that infringe the restrictions set out in the statutory instrument as to the type of significant intra-group transactions. Consent under the first sentence is at the supervisory authority's discretion. Regardless of whether the supervisory authority grants consent, the institution must notify the exceeding of the ceilings, or the infringements of the restrictions as to the type of intra-group transactions, to it, to the Deutsche Bundesbank, and, where the supervisory authority is the European Central Bank, also to the Federal Institute, without delay. The supervisory authority may 1. require the CRR credit institution within the meaning of subsection (1), first sentence, where the ceilings set out in the statutory instrument under subsection (1), second sentence, are exceeded, to cover the amount by which they are exceeded with own funds; 2. prevent, by suitable and necessary measures, infringements of the restrictions as to the type of intra-group transactions set out in the statutory instrument under subsection (1), second sentence.
(4) To identify, quantify, monitor, and manage significant intra-group transactions within a mixed group of undertakings, the CRR credit institutions belonging to the group must have appropriate risk management and appropriate internal control procedures, including proper reporting arrangements and proper accounting procedures; section 13 remains unaffected. Section 10a(8), section 25a(1), second sentence, and Article 11(1), second and third sentences, of Regulation (EU) No 575/2013 apply correspondingly.