Responsibility for supervision on a consolidated basis

(1) The Federal Institute exercises supervision on a consolidated basis over an institutional group, financial holding group, or mixed financial holding group within the meaning of section 10a(1) and (2) in conjunction with Article 11 of Regulation (EU) No 575/2013, where 1. the parent undertaking is an EU parent credit institution or a parent credit institution with its registered office in Germany, and the Federal Institute is responsible for supervising the credit institution at the individual institution level; 1a. the parent undertaking is a large securities institution within the meaning of section 2(18) of the Securities Institutions Act to which no CRR credit institution is subordinate, and the Federal Institute is responsible for supervising the large securities institution at the individual institution level; 2. the parent undertaking is a large securities institution within the meaning of section 2(18) of the Securities Institutions Act to which at least one CRR credit institution is subordinate, and the Federal Institute is responsible for supervising the CRR credit institution with the largest balance-sheet total at the individual institution level; 3. the parent undertaking is an EU parent financial holding company, a parent financial holding company with its registered office in a state of the European Economic Area, a mixed EU parent financial holding company, or a mixed parent financial holding company with its registered office in a state of the European Economic Area, or is deemed to be such under Article 10a of Regulation (EU) No 575/2013, a CRR credit institution or a large securities institution within the meaning of section 2(18) of the Securities Institutions Act with its registered office in Germany is subordinate to it, and the Federal Institute is responsible for supervising the subordinate credit institution or large securities institution at the individual institution level; 4. the parent undertaking is an EU parent financial holding company, a parent financial holding company with its registered office in a state of the European Economic Area, a mixed EU parent financial holding company, or a mixed parent financial holding company with its registered office in a state of the European Economic Area, or is deemed to be such under Article 10a of Regulation (EU) No 575/2013, two or more CRR credit institutions or large securities institutions within the meaning of section 2(18) of the Securities Institutions Act with their registered office within the European Economic Area are subordinate to it, and the Federal Institute is responsible at the individual institution level for supervising a) the sole subordinate CRR credit institution, b) the CRR credit institution with the largest balance-sheet total, or c) the large securities institution with the largest balance-sheet total, where the group does not comprise any CRR credit institutions.
(2) Where, in the cases under subsection (1), points 2 and 4(b), CRR credit institutions with their registered office in different Member States of the European Economic Area are subordinate to the parent undertaking, the Federal Institute is responsible for supervision on a consolidated basis where the total balance-sheet total of the subordinate CRR credit institutions for whose supervision at the individual level it is responsible under this Act exceeds the total balance-sheet total of the subordinate CRR credit institutions respectively supervised at the individual level by the other competent authorities. Where, in the cases under subsection (1), point 4(c), securities institutions with their registered office in different Member States of the European Economic Area are subordinate to the parent undertaking, the Federal Institute is responsible for supervision on a consolidated basis where the aggregate balance-sheet total of the subordinate securities institutions for whose supervision it is responsible exceeds the aggregate balance-sheet total of the subordinate securities institutions respectively supervised at the individual level by the other competent authorities.
(3) Where consolidated supervision takes place under Article 18(3) or (6) of Regulation (EU) No 575/2013, the Federal Institute is responsible for supervision on a consolidated basis where the total balance-sheet total of the CRR credit institutions belonging to the group for whose supervision at the individual institution level it is responsible under this Act exceeds the total balance-sheet total of the CRR credit institutions belonging to the group respectively supervised at the individual institution level by the other competent authorities. Where the group does not include any CRR credit institution, the Federal Institute is responsible for supervision on a consolidated basis where it is responsible at the individual level for supervising the large securities institution belonging to the group with the largest balance-sheet total.