Recital 23

(23) Competent authorities should conduct regular reviews of third-country branches’ compliance with relevant requirements under Directive 2013/36/EU, and impose supervisory measures on those branches to ensure or restore compliance with those requirements. To facilitate the effective supervision of compliance with those requirements by third-country branches and to allow for a comprehensive overview of third-country groups’ activities within the Union, common supervisory and financial reporting should be made available to competent authorities in accordance with standardised templates. EBA should be mandated to develop draft implementing technical standards setting out those templates. Furthermore, in order to ensure that all the activities of third-country groups operating in the Union through third-country branches are subject to comprehensive supervision, to prevent the requirements applicable to those groups under Union law from being circumvented and to minimise potential risks to financial stability in the Union, it is necessary to implement appropriate cooperation arrangements between competent authorities. In particular, class 1 third-country branches should be included within the scope of the colleges of supervisors of third-country groups in the Union. Where such a college does not yet exist, competent authorities should set up an ad hoc college for all class 1 third-country branches of the same group where that group operates in more than one Member State.

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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.