Regulation (EU) No 468/2014 (ECB/2014/17)

In force

This text since 14 May 2014law://eu/reg/2014/468/art_48@2026-11-13

Contents

Article 48Pending procedures#

1.If a change in competence between the ECB and an NCA is to take place, the authority whose competence is to end (hereinafter the ‘authority whose competence ends’) shall inform the authority which is to become competent (hereinafter the ‘the authority assuming supervision’) of any supervisory procedure formally initiated, which requires a decision. The authority whose competence ends shall provide this information immediately after becoming aware of the imminent change in competence. The authority whose competence ends shall update this information on a continual basis, and as a general rule on a monthly basis, when there is new information on a supervisory procedure to report. The authority assuming supervision may, in duly justified cases, allow reporting on a less frequent basis. For the purpose of Articles 48 and 49, a supervisory procedure shall mean an ECB or NCA supervisory procedure.Prior to the change in competence, the authority whose competence ends shall liaise with the authority assuming supervision without undue delay after the formal initiation of any new supervisory procedure which requires a decision.

2.If the supervisory competence changes, the authority whose competence ends shall undertake efforts to complete any pending supervisory procedure which requires a decision prior to the date on which the change in the supervisory competence is to occur.

3.If a formally initiated supervisory procedure, which requires a decision, cannot be completed prior to the date on which a change in the supervisory competence occurs, the authority whose competence ends shall remain competent to complete such pending supervisory procedure. For this purpose, the authority whose competence ends shall also retain all relevant powers until the supervisory procedure has been completed. The authority whose competence ends shall complete the pending supervisory procedure in question in accordance with the applicable law under its retained powers. The authority whose competence ends shall inform the authority assuming supervision prior to taking any decision in a supervisory procedure which was pending prior to the change in competence. It shall provide to the authority assuming supervision a copy of the decision taken and any relevant documents relating to that decision.

4.By way of derogation from paragraph 3, the ECB may decide within one month of receiving the information necessary to complete its assessment of the relevant formally initiated supervisory procedure, and in consultation with the relevant NCA, to take over the supervisory procedure concerned. If, due to reasons of national law, an ECB decision is required prior to the end of the assessment period referred to in the preceding sentence, the NCA shall provide the ECB with the necessary information and specify in particular the timeframe within which the ECB has to decide whether or not it intends to take over the procedure. Where the ECB takes over a supervisory procedure, it shall notify the relevant NCA and the parties of its decision to take over the supervisory procedure concerned. The ECB shall specify in its ECB decision the consequences of taking over such supervisory procedure.

5.The ECB and the relevant NCA shall cooperate with regard to the completion of any pending procedure and may exchange any relevant information for this purpose.

6.This Article shall not apply to common procedures.

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

Key facts

Type: Regulation · (EU) No 468/2014
Adopted: 16 Apr 2014
In force: 15 May 2014
Made by: European Central Bank
Official: EUR-Lex 32014R0468 · ELI

Topics

credit institution financial control financial cooperation interinstitutional cooperation (EU)Cooperation in the field of banking supervision Freedom of establishment Institutional structure and Governance Sanctions

History · 1 version

14 May 2014Reading

Connections

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Interpreted by the courts in 2: Silvio Berlusconi and Finanziaria d'investimento Fininvest SpA (Fininvest) v Banca d'Italia and Istituto per la Vigilanza Sulle Assicurazioni (IVASS) (C-219/17); VTB Bank (Austria) AG v Finanzmarktaufsichtsbehörde (C-52/17)
Cited by 22: Directive 2013/36/EU; Decision (EU) 2026/1942 (ECB/2026/18)2 provisions; Decision (EU) 2026/567 (ECB/2026/7); Regulation (EU) 2015/534 (ECB/2015/13); YH v European Central Bank (T-366/23)2 provisions; Regulation (EU) 2025/1958 (ECB/2025/31); Baltic International Bank, SE v European Central Bank (T-551/23); Trasta Komercbanka AS v European Central Bank (ECB) (C-90/23); Decision (EU) 2023/1681; Decision (EU) 2025/673 (ECB/2025/10); Decision (EU) 2025/507 (ECB/2025/8); Decision (EU) 2024/461 (ECB/2024/2); Decision (EU) 2025/451 (ECB/2025/7); Decision (EU) 2025/94 (ECB/2025/1)2 provisions; Nemea Bank plc v European Central Bank (ECB) and Others (C-181/22 P); MeSoFa Vermögensverwaltungs AG, formerly Sber Vermögensverwaltungs AG, initially Sberbank Europe AG v European Central Bank (T-632/22); MeSoFa Vermögensverwaltungs AG, formerly Sber Vermögensverwaltungs AG, initially Sberbank Europe AG v European Central Bank (T-790/22); Anglo Austrian AAB AG v European Central Bank (ECB) and Belegging-Maatschappij 'Far-Est' BV (C-579/22 P); PH and Others v European Central Bank (T-323/22); Deutsche Bank AG and Others v European Central Bank (T-182/22); Confédération nationale du Crédit mutuel and Others v European Central Bank (T-189/22); Société générale v European Central Bank (T-191/22)

Defined terms · 24

Show every defined term

administrative penalties
means either of the following:
authorisation
means an authorisation as defined in point (42) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council;
branch
means a branch as defined in point (17) of Article 4(1) of Regulation (EU) No 575/2013;
common procedures
means the procedures provided for in Part V with respect to an authorisation to take up the business of a credit institution, withdrawal of an authorisation to pursue such business and decisions with regard to qualifying holdings;
euro area Member State
means a Member State whose currency is the euro;
group
means a group of undertakings of which at least one is a credit institution and which consists of a parent undertaking and its subsidiaries, or undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU of the European Parliament and of the Council, including any sub-group thereof;
joint supervisory team
means a team of supervisors in charge of the supervision of a significant supervised entity or a significant supervised group;
less significant supervised entity
means both (a) a less significant supervised entity in a euro area Member State;
less significant supervised entity in a euro area Member State
means a supervised entity established in a euro area Member State and which does not have the status of a significant supervised entity within the meaning of Article 6(4) of the SSM Regulation;
less significant supervised group
means a supervised group which does not have the status of a significant supervised group within the meaning of Article 6(4) of the SSM Regulation;
national competent authority
(NCA) means a national competent authority as defined in point (2) of Article 2 of the SSM Regulation.
national designated authority
(NDA) means a national designated authority as defined in point (7) of Article 2 of the SSM Regulation;
non-euro area Member State
means a Member State whose currency is not the euro;
parent undertaking
means a parent undertaking as defined in point (15) of Article 4(1) of Regulation (EU) No 575/2013;
participating Member State in close cooperation
means a non-euro area Member State that has entered into close cooperation with the ECB in accordance with Article 7 of the SSM Regulation;
significant supervised entity
means both (a) a significant supervised entity in a euro area Member State;
significant supervised entity in a euro area Member State
means a supervised entity established in a euro area Member State which has the status of a significant supervised entity pursuant to an ECB decision based on Article 6(4) or Article 6(5)(b) of the SSM Regulation;
significant supervised entity in a participating non-euro area Member State
means a supervised entity established in a participating non-euro area Member State which has the status of a significant supervised entity pursuant to an ECB decision based on Article 6(4) or Article 6(5)(b) of the SSM Regulation;
significant supervised group
means a supervised group which has the status of significant supervised group pursuant to an ECB decision based on Article 6(4) or Article 6(5)(b) of the SSM Regulation;
subsidiary
means a subsidiary as defined in point (16) of Article 4(1) of Regulation (EU) No 575/2013;
supervised entity
means any of the following: (a) a credit institution established in a participating Member State;
supervised group
means any of the following:
third country
means a country which is neither a Member State nor a European Economic Area Member State;
working day
means a day which is not a Saturday, Sunday or an ECB public holiday in accordance with the calendar applicable to the ECB.