Special tasks in supervision on a consolidated basis

(1) Where the Federal Institute is responsible for supervision on a consolidated basis of an institutional group, a financial holding group, or a mixed financial holding group within the meaning of section 10a, headed by an EU parent institution, an EU parent financial holding company, or a mixed EU parent financial holding company, it is responsible, in addition to the other tasks arising from this Act, for the following tasks: 1. coordinating the collection and dissemination of useful and essential information under section 8(3) in the course of ongoing supervision and in crisis situations; this also includes the collection and dissemination of information on the legal and organisational structure, and the collection and dissemination of the principles of proper management; 2. planning and coordinating supervisory activities in the course of ongoing supervision and in crisis situations, in particular in the event of adverse developments at institutions or in the financial markets; in this regard the Federal Institute, and, insofar as it acts under this Act, the Deutsche Bundesbank, cooperate, to the extent necessary, with the respective competent authorities of the other states of the European Economic Area; in the course of ongoing supervision, this cooperation in particular includes the ongoing monitoring of institutions' risk management, cross-border examinations, measures for organisational deficiencies under section 45b, disclosure by institutions, and the technical requirements for the organisation and treatment of risks referred to in Articles 76 to 87 and 92 to 96 of Directive 2013/36/EU; in crisis situations, in particular in the event of adverse developments at institutions or in the financial markets, this cooperation includes ordering measures under sections 45 to 46b, drawing up joint assessments, implementing contingency plans, and communicating with the public; 3. transmitting the lists within the meaning of section 7a(3) to the respective competent authorities of the other states of the European Economic Area. Where the competent authorities of the other states of the European Economic Area do not cooperate with the Federal Institute to the extent necessary to perform the tasks under the first sentence, the Federal Institute may request assistance from the European Banking Authority under Article 19 of Regulation (EU) No 1093/2010.
(2) The Federal Institute and the competent authorities in the European Economic Area may set out the detailed arrangements for supervising institutional groups, financial holding groups, or mixed financial holding groups within the meaning of section 10a in cooperation agreements. These agreements may assign further tasks to the authority responsible for supervision on a consolidated basis in each case, and set out procedures for decision-making and cooperation with other competent authorities. Where the Federal Institute is responsible for supervision on a consolidated basis of a financial holding group or mixed financial holding group whose authorised parent financial holding company or mixed parent financial holding company does not have its registered office in Germany, these agreements must also be concluded with the competent authority of the Member State in which the parent financial holding company or mixed parent financial holding company has its registered office.
(3) Where the Federal Institute is responsible for supervision on a consolidated basis of an institutional group, a financial holding group, or a mixed financial holding group headed by an EU parent institution, an EU parent financial holding company, or a mixed EU parent financial holding company, it should reach a joint decision with the competent authorities in the European Economic Area responsible for supervising the undertakings belonging to the group, on 1. whether the group's own funds resources on a consolidated basis are adequate to its financial position and risk profile, 2. what additional own funds requirements are necessary for each undertaking belonging to the group and on a consolidated basis, 3. what measures are intended in the course of liquidity supervision and regarding institution-specific liquidity requirements, and 4. what amount of additional own funds is recommended. In making the decision, the risk assessment of the subsidiary undertakings carried out by the respective competent authorities must be appropriately taken into account. The decision must be comprehensively substantiated in writing. The Federal Institute communicates the decision to the group's parent undertaking. Where not all the competent authorities in the European Economic Area responsible for supervising the undertakings belonging to the group agree with the Federal Institute's decision, the Federal Institute involves the European Banking Authority, either on its own initiative or at the request of one of the other competent authorities. Its opinion must be taken into account in the further procedure. Material departures from that opinion must be substantiated in the decision.
(4) Where, in the cases under subsection (3), first sentence, no joint decision is reached within four months of the transmission of a risk assessment of the group to the competent authorities, the Federal Institute decides alone and communicates the decision to the group's parent undertaking. In doing so, the Federal Institute appropriately takes into account the risk assessments of the subsidiary undertakings carried out by the respective competent authorities. The decision must be comprehensively substantiated in writing. Where the Federal Institute or a competent authority of another state of the European Economic Area has, within the four-month period under the first sentence, requested assistance from the European Banking Authority under Article 19 of Regulation (EU) No 1093/2010, the Federal Institute defers its decision until a decision of the European Banking Authority under Article 19(3) of Regulation (EU) No 1093/2010, and then decides in accordance with the decision of the European Banking Authority. After the expiry of the period under the first sentence, or once a joint decision has been reached, the European Banking Authority may no longer be requested for assistance. The Federal Institute transmits its determinations made under subsection (3), first sentence, concerning the undertakings belonging to the group that are not supervised by the Federal Institute on an individual or sub-consolidated basis, to the respective competent authority. Where the Federal Institute receives a substantiated decision from another competent authority under Article 113(3) of Directive 2013/36/EU as amended on 27 November 2024, that takes account of the risk assessment and the views expressed by the other competent authorities under Article 113 of Directive 2013/36/EU as amended on 27 November 2024, it recognises that decision as authoritative, applies it, and transmits that document to all competent authorities concerned.
(5) Decisions under subsections (3) and (4) must, as a rule, be updated annually, and, exceptionally, within the year, where an authority responsible for supervising an undertaking belonging to the group applies to the Federal Institute in writing, with comprehensive reasons, for this. In this case, the update may be agreed solely between the Federal Institute and the competent authority that made the application.
(6) (repealed)