Council Regulation (EU) No 1024/2013

In force

This text since 3 Nov 2013law://eu/reg/2013/1024/art_7__para_2@2026-11-13

Contents

2.Close cooperation between the ECB and the national competent authority of a participating Member State whose currency is not the euro shall be established, by a decision adopted by the ECB, where the following conditions are met:

(a)the Member State concerned notifies the other Member States, the Commission, the ECB and EBA the request to enter into a close cooperation with the ECB in relation to the exercise of the tasks referred to in Articles 4 and 5 with regard to all credit institutions established in the Member State concerned, in accordance with Article 6;

(b)in the notification, the Member State concerned undertakes:

—to ensure that its national competent authority or national designated authority will abide by any guidelines or requests issued by the ECB, and

—to provide all information on the credit institutions established in that Member State that the ECB may require for the purpose of carrying out a comprehensive assessment of those credit institutions;

(c)the Member State concerned has adopted relevant national legislation to ensure that its national competent authority will be obliged to adopt any measure in relation to credit institutions requested by the ECB, in accordance with paragraph 4.

Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.

Key facts

Type: Regulation · Council Regulation (EU) No 1024/2013
Adopted: 15 Oct 2013
In force: 3 Nov 2013
Made by: Council of the European Union
Official: EUR-Lex 32013R1024 · ELI

Topics

credit institution division of powers European Central Bank financial intervention market intervention Freedom of establishment

History · 1 version

3 Nov 2013Reading

Connections

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Interpreted by the courts in 1: Silvio Berlusconi and Finanziaria d'investimento Fininvest SpA (Fininvest) v Banca d'Italia and Istituto per la Vigilanza Sulle Assicurazioni (IVASS) (C-219/17)
Cited by 12: Regulation (EU) No 575/2013; Directive 2014/59/EU; Decision (EU) 2026/2036 (ECB/2026/19); Decision (EU) 2026/2037 (ECB/2026/20); Decision (EU) 2026/2038 (ECB/2026/21); Decision (EU) 2026/1942 (ECB/2026/18)8 provisions; Regulation (EU) No 806/2014; Malacalza Investimenti Srl and Vittorio Malacalza v European Central Bank (C-557/24 P)4 provisions; Regulation (EU) 2026/808; Decision (EU) 2026/567 (ECB/2026/7); Council Implementing Decision (EU) 2026/4163 provisions; Decision (EU) 2026/564 (ECB/2026/5)2 provisions

Defined terms · 9

Show every defined term

credit institution
means a credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013;
financial conglomerate
means a financial conglomerate as defined in point 14 of Article 2 of Directive 2002/87/EC;
financial holding company
means a financial holding company as defined in point 20 of Article 4(1) of Regulation (EU) No 575/2013;
mixed financial holding company
means a mixed financial holding company as defined in point 15 of Article 2 of Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate;
national competent authority
means a national competent authority designated by a participating Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU;
national designated authority
means a designated authority of a participating Member State, within the meaning of the relevant Union law;
participating Member State
means a Member State whose currency is the euro or a Member State whose currency is not the euro which has established a close cooperation in accordance with Article 7;
qualifying holding
means a qualifying holding as defined in point 36 of Article 4(1) of Regulation (EU) No 575/2013;
Single supervisory mechanism
(SSM) means the system of financial supervision composed by the ECB and national competent authorities of participating Member States as described in Article 6 of this Regulation.