Version in force , Modified +992 −17§
Amended by Regulation (EU) 2026/808 32026R0808 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
Paragraph 1 now describes the Board's discretionary power as extending not only to an entity referred to in Article 2, point (b), but also to a financial institution referred to in Article 2, point (c), and rewords the reference to consultation with competent authorities as having already occurred.
A new paragraph 4 has been added setting out that, where subsidiaries established in the Union, or a Union parent undertaking and its subsidiary institutions, are not resolution entities under the global resolution strategy and the members of the European resolution college agree with that strategy, they shall comply with the Article 12a(1) requirement by issuing the instruments referred to in paragraph 2, points (a) and (b), to their ultimate third-country parent undertaking, to that parent's subsidiaries established in the same third country, or to other entities under the conditions in paragraph 2, points (a)(i) and (b)(ii).
Cited: Art. 12g, v1 (external, EUR-Lex) · Art. 12g, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 10 November 2025 02014R0806-20251110 → this version, in force 11 June 2026 02014R0806-20260611
Article 12g
Application of the minimum requirement for own funds and eligible liabilities to entities that are not themselves resolution entities
1. Institutions that are subsidiaries of a resolution entity or of a third-country entity, but are not themselves resolution entities, shall comply with the requirements laid down in Article 12d on an individual basis.
The Board, after consulting having consulted the competent authorities, including the ECB, may decide to apply the requirement laid down in this Article to an entity as referred to in Article 2, point (b) of (b), or to a financial institution as referred to in Article 2 2, point (c), that is a subsidiary of a resolution entity but is not itself a resolution entity.
By way of derogation from the first subparagraph of this paragraph, Union parent undertakings that are not themselves resolution entities, but are subsidiaries of third-country entities, … 1,467 unchanged words … Board, the resolution entity shall provide an independent written and reasoned legal opinion or shall otherwise satisfactorily demonstrate that there are no legal, regulatory or operational barriers to the transfer of collateral from the resolution entity to the relevant subsidiary.4. Where in accordance with the global resolution strategy subsidiaries established in the Union, or a Union parent undertaking and its subsidiary institutions, are not resolution entities and the members of the European resolution college, where established pursuant to Article 89 of Directive 2014/59/EU, agree with that strategy, subsidiaries established in the Union or, on a consolidated basis, the Union parent undertaking shall comply with the requirement of Article 12a(1) of this Regulation by issuing the instruments referred to in paragraph 2, points (a) and (b), of this Article, to any of the following:
(a) their ultimate parent undertaking established in a third country;
(b) the subsidiaries of that ultimate parent undertaking that are established in the same third country;
(c) other entities under the conditions set out in paragraph 2, points (a)(i) and (b)(ii), of this Article.