The EBA has published a report on the treatment of incoming third country branches of credit institutions under the national law of Member States. The report sets out 14 high-level policy recommendations for further harmonisation of EU law. The recommendations focus on:
- EU centralised equivalence assessment
- effective cooperation supported by the conclusion of MoUs with third country home authorities
- an appropriately determined scope of authorisation and prudential requirements (notably capital, liquidity, internal governance including booking arrangements)
- certain AML/CFT aspects
- a uniform minimum reporting framework
- satisfactory recovery plans.