(e)

the following paragraph is inserted: ‘4a. Without prejudice to paragraph 4, the consolidating supervisor may allow, on a case-by-case basis, financial holding companies or mixed financial holding companies which are exempted from approval to be excluded from the perimeter of consolidation, provided that the following conditions are met: ; the exclusion does not affect the effectiveness of the supervision of the subsidiary credit institution or of the group; the financial holding company or mixed financial holding company has no equity exposures other than the equity exposure in the subsidiary credit institution or in the intermediate parent financial holding company or mixed financial holding company controlling the subsidiary credit institution; the financial holding company or mixed financial holding company does not make substantial recourse to leverage and does not have exposures which are not related to its ownership in the subsidiary credit institution or in the intermediate parent financial holding company or mixed financial holding company controlling the subsidiary credit institution.’

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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.