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This document sets out the European Central Bank’s (ECB) approach to the exercise of some options and discretions provided for in Regulation of the European Parliament and of the Council (CRR) and Directive of the European Parliament and of the Council (CRD IV) and granted to competent authorities.
It aims to provide coherence, effectiveness and transparency regarding the supervisory policy that will be applied in the supervisory assessment of applications from significant supervised entities within the Single Supervisory Mechanism.
The assessment will be carried out according to the relevant provisions of the CRR and Commission Delegated Regulation (EU) 2015/61 of 10 October 2014 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to liquidity coverage requirement for Credit Institutions (Commission Delegated Regulation (EU) 2015/61) and in line with national legislation transposing the relevant provisions of CRD IV.