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The European Banking Authority (EBA) has proposed a streamlined process for requesting information and related responses when competent authorities across the EU consult each other on acquisitions and increases of qualifying holdings in credit institutions. More flexibility is proposed in respect of the information that an authority can require, whilst a list of minimum information that should be requested is also defined.
The draft Implementing Technical Standards (ITS) issued lay down in detail the process and timeframes for notifying an information request and for responding to it, and provide a set of relevant templates for this purpose. Requirements for the designation of contact points within competent authorities, as well as requirements for language and means of communication are also developed.
When defining this process for information exchanges between authorities, the EBA has remained mindful of potential implications, at international and cross-sectorial level, involved in the acquisition of qualifying holdings across the EU.
Comments can be sent to the EBA by 10 February 2016. A public hearing will then take place at the EBA premises on 18 January 2016 from 10.00 to 12.00 UK time.