Decree No. 198 / 2016 Coll.
Decree amending Decree No. 347 / 2006 Coll., implementing certain provisions of the Financial Conglomerates Act, as amended by Decree No. 250 / 2013 Coll.
Valid
Order
Effective from 01.08.2016
Text versions:
01.08.2016
22.06.2016
198
DECLARATION
of 3 June 2016
amending Decree No. 347 / 2006 Coll., implementing certain provisions of the Financial Conglomerates Act, as amended by Decree No. 250 / 2013 Coll.
The Czech National Bank provides pursuant to § 34 of Act No. 377 / 2005 Coll., on the Supplementary Supervision of Banks, Savings and Credit Cooperatives, Insurance and Securities Traders in Financial Conglomerates and on the Amendment of Certain Other Acts (Act on Financial Conglomerates), as amended by Act No. 57 / 2006 Coll. and Act No. 228 / 2013 Coll.:
Decree No. 347 / 2006 Coll., implementing certain provisions of the Financial Conglomerates Act, as amended by Decree No. 250 / 2013 Coll. is amended as follows:
1. In the introductory sentence, the words "electronic money institutions," are deleted.
2. Paragraph 1, including the title and footnotes 1 and 13, reads as follows:
Subject matter
This decree implements the relevant European Union Regulation (1), following the directly applicable European Union13 regulations) and provides for
(a) criteria for the non-inclusion of persons in the calculation of the additional capital adequacy requirement and the deadline for drawing up the report on the supplementary capital adequacy requirement;
(b) supporting documents for assessing the credibility and competence of persons in charge of a mixed financial holding person;
(c) the structure and deadlines of the transmission of information for the purposes of supplementary supervision;
(d) the manner, structure and time limits for the publication of information on the financial conglomerate.
1) Articles 6 to 9 and Annexes I and II to 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 and amending Council Directives 73 / 239 / EEC, 79 / 267 / EEC, 92 / 49 / EEC, 92 / 96 / EEC, 93 / 6 / EEC and 93 / 22 / EEC and Directives 98 / 78 / EC and 2000 / 12 / EC of the European Parliament and of the Council, as amended by Directives 2010 / 78 / EU and 2011 / 89 / EU of the European Parliament and of the Council.
(13) Commission Delegated Regulation (EU) No 342 / 2014 of 21 January 2014 supplementing Directive 2002 / 87 / EC of the European Parliament and of the Council and Regulation (EU) No 575 / 2013 of the European Parliament and of the Council with regard to regulatory technical standards for the application of methods of calculation of capital adequacy requirements for financial conglomerates. Commission Delegated Regulation (EU) 2015 / 2303 of 28 July 2015 supplementing Directive 2002 / 87 / EC of the European Parliament and of the Council with regard to regulatory technical standards specifying definitions and coordinating supplementary supervision of the concentration of risks and intra-group transactions. ';
3.
Compulsory person
For the purposes of this decree, the mandatory person shall be the person who, pursuant to Article 25 (1) and (2) of the Act, is required to communicate to the coordinator the information necessary for carrying out the supplementary supervision of compliance with the additional capital adequacy requirement, the concentration of risks, intra-group operations and compliance with the additional requirements for the internal management and control system, including the risk management system. ';
4. In Part Two, the title of Title I, including the title, is deleted.
5.
The obliged entity shall calculate the additional capital adequacy requirement and draw up a report on the additional capital adequacy requirement at least four times a year on 31 March, 30 June, 30 September and 31 December of the calendar year. The calculation of the additional capital adequacy requirement shall be carried out in accordance with the rules laid down by the directly applicable European Union Regulation governing the use of methods of calculation of capital adequacy requirements for financial conglomerates. 13). "
(6) Sections 5 to 7 shall be deleted, including the headings and footnotes No 7 to 9.
7. In Part Two, Titles II and III, including the headings and footnotes No 10, are deleted.
8. Paragraph 16 (2) reads as follows:
"(2) The means of reporting referred to in paragraph 1 (a) and (b) shall be agreed in advance with the coordinator. The method of reporting referred to in paragraph 1 (c) and (d) shall be adapted to the directly applicable European Union regulation on technical standards in the field of risk concentration and operations within group 13. ';
9. Sections 19 and 20 shall be deleted, including the headings.
(10) Annexes 4 and 5 are deleted.
Efficacy
This Decision shall enter into force on 1 August 2016.
Governor:
Prof. PhDr.
Vice-Governor
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Regulation Information
| Citation | Decree No. 198 / 2016 Coll., amending Decree No. 347 / 2006 Coll., implementing certain provisions of the Financial Conglomerates Act, as amended by Decree No. 250 / 2013 Coll. |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 22.06.2016 |
|---|---|
| Effective from | 01.08.2016 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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