What changed, Directive 2013/36/EU

− **1.** For the purposes of this Directive, the following definitions shall apply:(1) 'credit institution' means credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;(2) 'investment firm' means investment firm as defined in point (2) of Article 4(1) of Regulation …
− **2.** Paragraph 1 shall not apply to the taking of deposits or other funds repayable by a Member State, or by a Member State's regional or local authorities, by public international bodies of which one or more Member States are members, or to cases expressly covered by national or Union law, provid…
− **4.** Approval of the financial holding company or mixed financial holding company under this Article shall not be required where all of the following conditions are met:(a) the financial holding company's principal activity is to acquire holdings in subsidiaries or, in the case of a mixed financia…
− The home Member State's competent authorities shall also communicate the amount and composition of own funds and the sum of the own funds requirements under Article 92 of Regulation (EU) No 575/2013 of the credit institution.
− By way of derogation from the second subparagraph, in the case referred to in Article 34 the home Member State's competent authorities shall communicate the amount and composition of own funds of the financial institution and the total risk exposure amounts calculated in accordance with Article 92(3…
− The competent authorities of the home Member States shall consult the competent authorities of the host Member States where significant branches are established about operational steps required by Article 86(11), where relevant for liquidity risks in the host Member State's currency.
− **2.** Member States shall ensure that in the cases referred to in paragraph 1, the administrative penalties and other administrative measures that can be applied include at least the following:(a) a public statement which identifies the natural person, institution, financial holding company or mixe…
− **4.** EBA shall maintain a website with links to each competent authority's publication of administrative penalties under Article 68 and shall show the time period for which each Member State publishes administrative penalties.
− **2.** The arrangements, processes and mechanisms referred to in paragraph 1 of this Article shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in Articles 76 to…
− The risk committee shall advise the management body on the institution's overall current and future risk appetite and strategy and assist the management body in overseeing the implementation of that strategy by senior management. The management body shall retain overall responsibility for risks.
− The risk committee shall review whether prices of liabilities and assets offered to clients take fully into account the institution's business model and risk strategy. Where prices do not properly reflect risks in accordance with the business model and risk strategy, the risk committee shall present…
− Member States shall ensure that the risk management function ensures that all material risks are identified, measured and properly reported. They shall ensure that the risk management function is actively involved in elaborating the institution's risk strategy and in all material risk management dec…
− **2.** Competent authorities shall, taking into account the nature, scale and complexity of institutions' activities, monitor that they do not solely or mechanistically rely on external credit ratings for assessing the creditworthiness of an entity or financial instrument.
− **4.** Where particular institutions diverge significantly from the majority of their peers or where there is little commonality in approach leading to a wide variance of results, competent authorities shall investigate the reasons therefor and, if it can be clearly identified that an institution's …
− (d) diversification of credit portfolios is adequate given an institution's target markets and overall credit strategy.
− Institutions, which have, in calculating own funds requirements for position risk in accordance with Part Three, Title IV, Chapter 2, of Regulation (EU) No 575/2013, netted off their positions in one or more of the equities constituting a stock-index against one or more positions in the stock-index …
− **1.** Competent authorities shall ensure that institutions implement internal systems, use the standardised methodology or the simplified standardised methodology to identify, evaluate, manage and mitigate the risks arising from potential changes in interest rates that affect both the economic valu…
− **2.** Competent authorities shall ensure that institutions implement systems to assess and monitor the risks arising from potential changes in credit spreads that affect both the economic value of equity and the net interest income of an institution's non-trading book activities.
− **6.** EBA shall issue guidelines to specify the criteria for:(a) the evaluation by an institution's internal system of the risks referred to in paragraph 1;(b) the identification, management and mitigation by institutions of the risks referred to in paragraph 1;(c) the assessment and monitoring by …
− **2.** Competent authorities shall ensure that contingency and business continuity plans are in place to ensure an institution's ability to operate on an ongoing basis and limit losses in the event of severe business disruption.
− **2.** The strategies, policies, processes and systems referred to in paragraph 1 shall be proportionate to the complexity, risk profile, scope of operation of the institutions and risk tolerance set by the management body and reflect the institution's importance in each Member State in which it car…
− **2.** Competent authorities shall ensure that institutions address the risk of excessive leverage in a precautionary manner by taking due account of potential increases in the risk of excessive leverage caused by reductions of the institution's own funds through expected or realised losses, dependi…
− (a) the management body must have the overall responsibility for the institution and approve and oversee the implementation of the institution's strategic objectives, risk strategy and internal governance;
− Member States shall ensure that the management body monitors and periodically assesses the effectiveness of the institution's governance arrangements and takes appropriate steps to address any deficiencies.
− In performing its duties, the nomination committee shall, to the extent possible and on an ongoing basis, take account of the need to ensure that the management body's decision making is not dominated by any one individual or small group of individuals in a manner that is detrimental to the interest…
− **3.** The number of directorships which may be held by a member of the management body at the same time shall take into account individual circumstances and the nature, scale and complexity of the institution's activities. Unless representing the Member State, members of the management body of an i…
− **7.** The management body shall possess adequate collective knowledge, skills and experience to be able to understand the institution's activities, including the main risks. The overall composition of the management body shall reflect an adequately broad range of experience.
− **2.** ►M5 Member States shall ensure that, when establishing and applying the total remuneration policies, inclusive of salaries and discretionary pension benefits, for categories of staff whose professional activities have a material impact on the institution's risk profile, institutions comply wi…
− **3.** For the purposes of paragraph 2, categories of staff whose professional activities have a material impact on the institution's risk profile shall, at least, include:(a) all members of the management body and senior management;(b) staff members with managerial responsibility over the instituti…
− **1.** For variable elements of remuneration, the following principles shall apply in addition to, and under the same conditions as, those set out in Article 92(2):(a) where remuneration is performance related, the total amount of remuneration is based on a combination of the assessment of the perfo…
+ **1.** For the purposes of this Directive, the following definitions shall apply:(1) 'credit institution' means credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;(2) 'investment firm' means investment firm as defined in point (2) of Article 4(1) of Regulation …
+ **2.** Paragraph 1 shall not apply to the taking of deposits or other funds repayable by a Member State, or by a Member State’s regional or local authorities, by public international bodies of which one or more Member States are members, or to cases expressly covered by national or Union law, provid…
+ **4.** Approval of the financial holding company or mixed financial holding company under this Article shall not be required where all of the following conditions are met:(a) the financial holding company’s principal activity is to acquire holdings in subsidiaries or, in the case of a mixed financia…
+ The home Member State’s competent authorities shall also communicate the amount and composition of own funds and the sum of the own funds requirements under Article 92 of Regulation (EU) No 575/2013 of the credit institution.
+ By way of derogation from the second subparagraph, in the case referred to in Article 34 the home Member State’s competent authorities shall communicate the amount and composition of own funds of the financial institution and the total risk exposure amounts calculated in accordance with Article 92(3…
+ The competent authorities of the home Member States shall consult the competent authorities of the host Member States where significant branches are established about operational steps required by Article 86(11), where relevant for liquidity risks in the host Member State’s currency.
+ **2.** Member States shall ensure that in the cases referred to in paragraph 1, the administrative penalties and other administrative measures that can be applied include at least the following:(a) a public statement which identifies the natural person, institution, financial holding company or mixe…
+ **4.** EBA shall maintain a website with links to each competent authority’s publication of administrative penalties under Article 68 and shall show the time period for which each Member State publishes administrative penalties.
+ **2.** The arrangements, processes and mechanisms referred to in paragraph 1 of this Article shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution’s activities. The technical criteria established in Articles 76 to…
+ Member States shall ensure that the management body develops specific plans and quantifiable targets in accordance with the requirements laid down in Article 7a of Regulation (EU) No 648/2012 to monitor and address the concentration risk arising from exposures towards central counterparties offering…
+ The risk committee shall advise the management body on the institution’s overall current and future risk appetite and strategy and assist the management body in overseeing the implementation of that strategy by senior management. The management body shall retain overall responsibility for risks.
+ The risk committee shall review whether prices of liabilities and assets offered to clients take fully into account the institution’s business model and risk strategy. Where prices do not properly reflect risks in accordance with the business model and risk strategy, the risk committee shall present…
+ Member States shall ensure that the risk management function ensures that all material risks are identified, measured and properly reported. They shall ensure that the risk management function is actively involved in elaborating the institution’s risk strategy and in all material risk management dec…
+ **2.** Competent authorities shall, taking into account the nature, scale and complexity of institutions’ activities, monitor that they do not solely or mechanistically rely on external credit ratings for assessing the creditworthiness of an entity or financial instrument.
+ **4.** Where particular institutions diverge significantly from the majority of their peers or where there is little commonality in approach leading to a wide variance of results, competent authorities shall investigate the reasons therefor and, if it can be clearly identified that an institution’s …
+ (d) diversification of credit portfolios is adequate given an institution’s target markets and overall credit strategy.
+ Competent authorities shall assess and monitor developments in the practices of institutions concerning the management of their concentration risk arising from exposures towards central counterparties, including the plans developed in accordance with Article 76(2), fifth subparagraph of this Directi…
+ Institutions, which have, in calculating own funds requirements for position risk in accordance with Part Three, Title IV, Chapter 2, of Regulation (EU) No 575/2013, netted off their positions in one or more of the equities constituting a stock-index against one or more positions in the stock-index …
+ **1.** Competent authorities shall ensure that institutions implement internal systems, use the standardised methodology or the simplified standardised methodology to identify, evaluate, manage and mitigate the risks arising from potential changes in interest rates that affect both the economic valu…
+ **2.** Competent authorities shall ensure that institutions implement systems to assess and monitor the risks arising from potential changes in credit spreads that affect both the economic value of equity and the net interest income of an institution’s non-trading book activities.
+ **6.** EBA shall issue guidelines to specify the criteria for:(a) the evaluation by an institution’s internal system of the risks referred to in paragraph 1;(b) the identification, management and mitigation by institutions of the risks referred to in paragraph 1;(c) the assessment and monitoring by …
+ **2.** Competent authorities shall ensure that contingency and business continuity plans are in place to ensure an institution’s ability to operate on an ongoing basis and limit losses in the event of severe business disruption.
+ **2.** The strategies, policies, processes and systems referred to in paragraph 1 shall be proportionate to the complexity, risk profile, scope of operation of the institutions and risk tolerance set by the management body and reflect the institution’s importance in each Member State in which it car…
+ **2.** Competent authorities shall ensure that institutions address the risk of excessive leverage in a precautionary manner by taking due account of potential increases in the risk of excessive leverage caused by reductions of the institution’s own funds through expected or realised losses, dependi…
+ (a) the management body must have the overall responsibility for the institution and approve and oversee the implementation of the institution’s strategic objectives, risk strategy and internal governance;
+ Member States shall ensure that the management body monitors and periodically assesses the effectiveness of the institution’s governance arrangements and takes appropriate steps to address any deficiencies.
+ In performing its duties, the nomination committee shall, to the extent possible and on an ongoing basis, take account of the need to ensure that the management body’s decision making is not dominated by any one individual or small group of individuals in a manner that is detrimental to the interest…
+ **3.** The number of directorships which may be held by a member of the management body at the same time shall take into account individual circumstances and the nature, scale and complexity of the institution’s activities. Unless representing the Member State, members of the management body of an i…
+ **7.** The management body shall possess adequate collective knowledge, skills and experience to be able to understand the institution’s activities, including the main risks. The overall composition of the management body shall reflect an adequately broad range of experience.
+ **2.** ►M5 Member States shall ensure that, when establishing and applying the total remuneration policies, inclusive of salaries and discretionary pension benefits, for categories of staff whose professional activities have a material impact on the institution’s risk profile, institutions comply wi…