Coordination of early intervention measures and appointment of a temporary administrator for groups

(1) Where the conditions of section 36 or 38 are satisfied in respect of an EU parent undertaking for which the supervisory authority is the consolidating supervisor, the consolidating supervisor informs the European Banking Authority and consults the other supervisory authorities within the supervisory college. Following the notification and consultation, the consolidating supervisor decides, having regard to the effects on the group's undertakings in the other Member States, whether a measure under section 36 or 38 is to be directed in respect of the EU parent undertaking. It communicates its decision to the other supervisory authorities within the supervisory college and to the European Banking Authority.
(2) Where the conditions of section 36 or 38 are satisfied in respect of a subsidiary undertaking of an EU parent undertaking that is supervised by the supervisory authority, and the supervisory authority intends to direct a measure, it informs the European Banking Authority and consults the consolidating supervisor with regard to its assessment of the possible effects on the group or on the group's undertakings in other Member States. The supervisory authority decides on the direction of the measure having regard to the assessment by the consolidating supervisor. Where no assessment from the consolidating supervisor has been received after the expiry of three calendar days, the supervisory authority may decide without that assessment. It communicates its decision to the consolidating supervisor, to the other supervisory authorities within the supervisory college, and to the European Banking Authority.
(3) Where the supervisory authority intends to direct a measure under section 36 or 38 in respect of an institution, and at the same time at least one supervisory authority in a Member State intends to direct a measure under the corresponding national provisions implementing Article 27 or 29 of Directive 2014/59/EU in respect of another institution of the same group, the supervisory authority participates in the joint assessment of whether the same temporary administrator is to be appointed for all the institutions concerned, or whether the application of early intervention measures is to be coordinated in the interest of restoring the financial stability of the institution concerned. The assessment should be issued in the form of a written and reasoned joint decision, which the supervisory authority, where it is the consolidating supervisor, transmits to the EU parent undertaking. The supervisory authority may request the European Banking Authority, under Article 31 of Regulation (EU) No 1093/2010, for assistance in reaching agreement. Where no joint decision of the supervisory authorities concerned is reached within five calendar days, the supervisory authority decides on the direction of the measure itself, within its own competence.
(4) Where, in the cases under Article 30(1) or (3) of Directive 2014/59/EU, the supervisory authority is informed of a decision of a supervisory authority of a Member State on early intervention measures, and it does not agree with the decision, it may, until the conclusion of the consultation under Article 19(3) of Regulation (EU) No 1093/2010, refer the matter to the European Banking Authority, where the decision concerns one of the following early intervention measures: 1. early intervention measures relating to the implementation of arrangements or measures from the recovery plan, insofar as they concern the range of capital and liquidity measures under point 4 of Section A of the Annex to Directive 2014/59/EU required to maintain or restore the institution's viability and financial position, arrangements and measures to preserve or restore the institution's own funds under point 10 of Section A of the Annex to Directive 2014/59/EU, arrangements and measures to ensure access to sources of liquidity under point 11 of Section A of the Annex to Directive 2014/59/EU, or measures to implement the recovery plan under point 19 of Section A of the Annex to Directive 2014/59/EU; 2. early intervention measures relating to the preparation of a plan for negotiations on debt restructuring, or 3. early intervention measures relating to the change of the legal or operational structures of an institution. It may further, under Article 19(3) of Regulation (EU) No 1093/2010, refer the matter to the European Banking Authority where no agreement is reached, within the time limit of subsection (3), fourth sentence, on the assessment in relation to those early intervention measures. Where a supervisory authority in a Member State has referred the matter to the European Banking Authority under Article 19(3) of Regulation (EU) No 1093/2010, the supervisory authority decides in accordance with the decision of the European Banking Authority. Where no decision of the European Banking Authority is available within three calendar days, the supervisory authority decides on the direction of the measure itself, within its own competence.