decision on internal model investigationsmeans any ECB decision amending the approved SEP decision in relation to one or more planned internal model investigations;
decision on on-site inspectionsmeans any ECB decision amending the approved SEP decision in relation to one or more planned on-site inspections;
delegated decisionmeans a delegated decision as defined in point (4) of Article 3 of Decision (EU) 2017/933 (ECB/2016/40);
delegation decisionmeans a delegation decision as defined in point (2) of Article 3 of Decision (EU) 2017/933 (ECB/2016/40);
heads of work unitsmeans the heads of work units of the ECB to whom the power to adopt decisions on on-site inspections and decisions on internal model investigations is delegated;
inspected legal entitymeans any of the following:
inspectionmeans an on-site inspection or an internal model investigation;
internal model investigationmeans an on-site inspection in relation to the use of internal models for the calculation of the own funds requirements set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council for the purpose of adopting an internal models decision;
less significant supervised entitymeans a less significant supervised entity as defined in point (7) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17);
negative decisionmeans a decision that extends the scope of a planned on-site inspection or a planned internal model investigation, unless that decision is taken pursuant to a request by the supervised entity.
non-objection proceduremeans the procedure set out in Article 26(8) of Regulation (EU) No 1024/2013 and further specified in Article 13g of Decision ECB/2004/2;
on-site inspectionmeans an inspection conducted at the business premises of any of the legal persons referred to in Article 10(1) of Regulation (EU) No 1024/2013 and any other undertaking included in supervision on a consolidated basis where the ECB is the consolidating supervisor in accordance with point (g) of Article 4(1) of Regulation (EU) No 1024/2013;
sensitivitymeans a characteristic or factor that may have a negative impact on the ECB’s reputation and/or on the effective and consistent functioning of the Single Supervisory Mechanism, including but not limited to any of the following: (a) where the relevant supervised entity has previously been, or is currently, subject to severe supervisory measures such as early intervention measures;
SEPhas the same meaning as in Article 99(1) of Directive 2013/36/EU;
significant supervised entitymeans a significant supervised entity as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17);