(5)

Article 8a is amended as follows: in paragraph 1, point (b) is replaced by the following: ; the average of monthly total assets calculated over a period of 12 consecutive months is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in the group established in the Union, including any of their branches and subsidiaries established in a third country, that individually have total assets of less than EUR 30 billion and that carry out any of the activities referred to in Annex I, Section A, points (3) and (6), to Directive 2014/65/EU is equal to or exceeds EUR 30 billion, both calculated as an average over a period of 12 consecutive months.’ the following paragraph is inserted: ‘3a. By way of derogation from paragraph 1 of this Article, based on the application received in accordance with that paragraph and the information received in accordance with Article 95a of Directive 2014/65/EU, the competent authority may, after receiving a request from an undertaking referred to in paragraph 1 of this Article, waive the requirement to obtain an authorisation as a credit institution in accordance with Article 8 of this Directive for that undertaking. Upon receiving a waiver request, the competent authority shall notify EBA thereof. EBA shall issue an opinion on that waiver request within one month from the notification by the competent authority. The competent authority shall take a decision on the waiver request, taking into account the EBA opinion and at least the following elements: Where the decision of the competent authority deviates from the opinion provided by EBA, the competent authority shall state the reasons for the deviation in its decision. The competent authority shall notify its decision to the undertaking concerned and to EBA. EBA shall publish that decision, together with its opinion, on its website. The competent authority shall reassess its decision every three years.’ ; where the undertaking is part of a group, the organisational structure of the group, the booking practices prevailing within the group and the allocation of assets across the group entities; the nature, size and complexity of the activities carried out by the undertaking in the Member State where it is established and in the Union as a whole; the importance of, and systemic risk posed by, the activities carried out by the undertaking in the Member State where it is established and in the Union as a whole. the following paragraphs are added: ‘7. EBA shall develop draft regulatory technical standards to further specify the elements that are to be taken into consideration by the competent authority when deciding whether to grant a waiver in accordance with paragraph 3a, taking into account, in particular, the materiality of the counterparty credit risk to which an undertaking is exposed. EBA shall submit those draft regulatory technical standards to the Commission by 10 January 2026. Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. 8. By 31 December 2028, EBA shall submit a report to the Commission on the use of the waiver as referred to in paragraph 3a of this Article as well as on the application of Article 4(1), point (1)(b)(iii), of Regulation (EU) No 575/2013.’ ;

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.