RTS on consultative supervisory colleges

EBA should reassess, at least every 2 years, which authorities qualify to be members of the college under Article 119(2), points (d), (e), (f), (h) and (l), of Regulation (EU) 2023/1114. The frequency of the reassessment should be determined taking into account the need to ensure an appropriate representation of the relevant competent authoritiesmeans one or more authorities:designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens; in the college, as these may change over time, notably as a result of market developments affecting the asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or e-money token, as well as the need to ensure the college’s stability.

In accordance with Article 119(6) of Regulation (EU) 2023/1114, the establishment and functioning of the college should be based on a written agreement between its members. Taking into account the timeline set out in Article 119(1) of that Regulation for the establishment of the college, it is appropriate to specify in this Regulation the practical arrangements for the conclusion of the written agreement.

The members of the college should discuss any possible entrustment of tasks among the college members under Article 119(5), point (c), of Regulation (EU) 2023/1114. Where a college is established for a credit institutionmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU; issuing a significant e-money token, for which the supervisory responsibility under Regulation (EU) 2023/1114 remains with the competent prudential supervision authority and is not transferred to EBA, the latter should be able to entrust its tasks as chair of the college referred to in Article 119(7), points (b) to (e), of Regulation (EU) 2023/1114 to, or share them with, the prudential supervision authority competent to supervise that credit institutionmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU;. Such entrustment or sharing of tasks might be necessary to ensure a more efficient coordination of the college, since that authority is in a better position to coordinate and communicate with other authorities relevant for the credit institutionmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU; in question and has a better knowledge of the situation of that credit institutionmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU;. Nevertheless, EBA should remain in charge of establishing written arrangements and procedures for the functioning of the college, after consulting the other members of the college, as required by Article 119(7), point (a), of Regulation (EU) 2023/1114, to ensure that it retains oversight of the chairing of the college. The written agreement referred to in Article 119(6) of that Regulation should also describe the arrangements on the voluntary entrustment of tasks among its members under Article 119(5), point (c), of that Regulation, where such entrustment takes place.

The chair of the college should have the possibility to invite other authorities, that are not members of the college, to attend a college meeting, or a particular agenda item. This might include authorities related to the issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or a significant e-money token, or to the group it belongs to, on the basis of other sectoral legislation, such as the consolidating supervisor of a credit institutionmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU;, as defined in Article 4(1), point (41), of Regulation (EU) No 575/2013 of the European Parliament and of the Council(²)Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176 27.6.2013, p. 1, ELI: http://data.europa.eu/eli/reg/2013/575/oj)., or the lead supervisor of the relevant anti-money laundering and countering the financing of terrorism supervisory college, as the case may be. The chair of the college should decide what information is relevant for those authorities and involve them in the relevant college meeting or activity accordingly.

The members of the college who are involved in a particular meeting or activity of the college should exchange documents and contributions to working documents with sufficient time in advance to enable all participants in the college meeting to actively contribute to the discussions. The minimum timeframes for the assessment of the relevant documentation by the members of the college should be specified in the written agreement referred to in Article 119(6) of Regulation (EU) 2023/1114, taking into account the complexity of the work and the size of the college, the topic at hand and any relevant timelines set out in that Regulation.

In order to facilitate the cooperation and information exchange among the members of the college, it is appropriate to further specify the general framework for the exchange of information between the members of the college.

This Regulation is based on the draft regulatory technical standards submitted to the Commission by the EBA.

The EBA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council(³)Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12, ELI: http://data.europa.eu/eli/reg/2010/1093/oj).,