EBA: Draft implementing technical standards on passport notifications under Articles 35, 36 and 39 of the proposed Capital Requirements Directive/Draft regulatory technical standards on passport notifications under Articles 35, 36 and 39 of the proposed Capital Requirements Directive

EBA has published consultation papers with regard to the above. The objective of the first of these is to specify the information a credit institution shall provide to the competent authority of the home Member State to notify the establishment of a branch or the exercise of the freedom to provide services within the territory of another Member State. Information on changes in the branch notification, including termination of a branch operation, are also specified. The objective of the second consultation is to harmonise passport notifications through the adoption of common templates and procedures so as to ensure that both home and host competent authorities receive appropriate information. In order to ensure an efficient process of passport notifications is in place, the draft standards also include provisions on the assessment of completeness of the notification provided by the credit institution. Responses are required by 21 August 2013.