in force 2025-01-01 MODIFIED+35 −98§
Amended by Regulation (EU) 2024/1623 32024R1623 · Regulation (EU) 2024/2987 32024R2987 · Regulation (EU) 2024/2795 32024R2795
applies from: unchanged
In paragraph 1, the reference to an ancillary services undertaking as a type of entity that need not be included in consolidation has been removed, leaving only institutions and financial institutions named.
In paragraph 2, the same reference to an ancillary services undertaking as a subsidiary or participation-holding entity subject to a case-by-case decision by the competent authorities has likewise been removed, leaving only institutions and financial institutions named.
Cited: Art. 19, v2
text before / after
02013R0575-20240709 → 02013R0575-20250101
Article 19
Entities excluded from the scope of prudential consolidation
1. An institution, institution or a financial institution or an ancillary services undertaking which is a subsidiary or an undertaking in which a participation is held, need not to be included in the consolidation where the total amount of assets and off-balance sheet off-balance-sheet items of the undertaking concerned is less than the smaller of the following two amounts:
(a) EUR 10 million;
(b) 1 % of the total amount of assets and off-balance sheet items of the parent undertaking or the undertaking that holds the participation.
2. The competent authorities responsible for exercising supervision on a consolidated basis pursuant to Article 111 of Directive 2013/36/EU may on a case-by-case basis decide in the following cases that an institution, or a financial institution or ancillary services undertaking which is a subsidiary or in which a participation is held need not be included in the consolidation:
(a) where the undertaking concerned is situated in a third country where there are legal impediments to the transfer of the necessary information;
(b) where the undertaking concerned is of negligible interest only with respect to the objectives of monitoring institutions;
(c) where, in the opinion of the competent authorities responsible for exercising supervision on a consolidated basis, the consolidation of the financial situation of the undertaking concerned would be inappropriate or misleading as far as the objectives of the supervision of institutions are concerned.
3. Where, in the cases referred to in paragraph 1 and point (b) of paragraph 2, several undertakings meet the criteria set out therein, they shall nevertheless be included in the consolidation where collectively they are of non-negligible interest with respect to the specified objectives.