in force 2019-06-27 MODIFIED+212 −470§
Amended by Regulation (EU) 2019/876 32019R0876
applies from: unchanged
Sources disagree — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. All are shown; none is overruled.
The heading and paragraph 1 now refer to obligations under Article 5 of Regulation (EU) 2017/2402 on a consolidated or sub-consolidated basis, replacing the earlier reference to obligations laid down in Part Five of this Regulation.
Paragraph 2 now points to Article 270a instead of Article 407 for the additional risk weight, and it identifies the breached requirements as those of Article 5 of Regulation (EU) 2017/2402 rather than of Articles 405 or 406, with cross-references to Article 92 and Article 18 now specified as being of this Regulation.
The former paragraph 3, which addressed a third-country legality exemption from obligations under Part Five for subsidiaries not themselves subject to this Regulation, no longer appears in the text shown.
Cited: Art. 14, v1 · Art. 14, v2
text before / after
02013R0575-20190426 → 02013R0575-20190627
Article 14
Application of requirements of Part Five Article 5 of Regulation (EU) 2017/2402 on a consolidated basis
1. Parent undertakings and their subsidiaries that are subject to this Regulation shall be required to meet the obligations laid down in Part Five Article 5 of Regulation (EU) 2017/2402 on a consolidated or sub-consolidated basis, to ensure that their arrangements, processes and mechanisms required by those provisions are consistent and well-integrated and that any data and information relevant to the purpose of supervision can be produced. In particular, they shall ensure that subsidiaries that are not subject to this Regulation implement arrangements, processes and mechanisms to ensure compliance with those provisions.
2. Institutions shall apply an additional risk weight in accordance with Article 407 270a of this Regulation when applying Article 92 of this Regulation on a consolidated or sub-consolidated basis if the requirements laid down in Article 5 of Article 405 or 406 Regulation (EU) 2017/2402 are breached at the level of an entity established in a third country included in the consolidation in accordance with Article 18 of this Regulation if the breach is material in relation to the overall risk profile of the group.
3. Obligations resulting from Part Five concerning subsidiaries, not themselves subject to this Regulation, shall not apply if the EU parent institution or institutions controlled by an EU parent financial holding company or EU parent mixed financial holding company, can demonstrate to the competent authorities that the application of Part Five is unlawful under the laws of the third country where the subsidiary is established.