Recital (3) · ECB/2026/5

(3)Pursuant to amendments to Directive 2013/36/EU of the European Parliament and of the Council^note that were introduced by Directive (EU) 2024/1619 of the European Parliament and Council^note with effect from 11 January 2026, supervisors of credit institutions have at their disposal all the supervisory powers enabling them to cover the material operations that can be undertaken by the supervised entities. The ECB therefore has the power to take decisions in exercise of supervisory powers granted pursuant to Directive 2013/36/EU in cases of mergers, divisions or acquisitions of material holdings involving significant supervised entities. This is in addition to the ECB’s powers to take decisions in the exercise of supervisory powers granted under national law.

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Defined terms · 11

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acquisition of a material holding
means an acquisition of a holding which is deemed material pursuant to Article 27a(2) of Directive 2013/36/EU;
decision taken in exercise of supervisory powers granted pursuant to Union law
means: (a) a supervisory decision;
delegated decision
has the same meaning as in Article 3, point (4) of Decision (EU) 2017/933 (ECB/2016/40);
division
means an operation as defined in Article 27h, third subparagraph, point (2) of Directive 2013/36/EU;
equivalent supervisory and regulatory standards
means supervisory and regulatory requirements or arrangements applied by a third country or territory that are recognised by the European Commission as equivalent to those applied in the Union in accordance with Articles 107(4) and 114(7), second paragraph, of Regulation (EU) No 575/2013.
head of work unit
means a person of the ECB to whom the power to adopt decisions on mergers, divisions and acquisitions of material holdings is delegated;
merger
means an operation as defined in Article 27h, third subparagraph, point (1) of Directive 2013/36/EU;
negative decision
means a decision that does not or does not fully grant the approval as requested by the significant supervised entity.
non-objection procedure
means 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;
sensitivity
means 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) the relevant supervised entity has previously been, or is currently, subject to severe supervisory measures such as early intervention measures;
significant supervised entity
means a significant supervised entity as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17);