Public consultation on revised policies on the options and discretions (O&Ds) available to supervisory authorities under Union law

The revised policies outline how the ECB will use the options and discretions available to supervisory authorities under EU banking law. The options and discretions relate to several prudential topics. These include the definition of own funds, how to calculate capital requirements for certain risk categories, which asset types are included in the trading book and what exclusions are allowed when determining the consolidation scope of a banking group.

The updates are mainly necessary because of the adoption of the new Banking Package (CRR III and CRD VI), although they also reflect other supervisory developments since the last revision in 2022. The revised policies aim to make the exercise of options and discretions by the ECB and national competent authorities more transparent, consistent and effective.

On 22 November 2024 the ECB made a correction to page 14 of the explanatory memorandum that accompanies this consultation. The correction concerned the description of the proposed policy relating to Article 314(3) of the CRR.

Submit your comments by midnight (24:00) CET on 24 January 2025 using this template.

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Only comments sent using the above template will be published after the close of this public consultation.

Submitting comments by email

Using the above template, send your comments to SSMPublicConsultation@ecb.europa.eu.

Please write “Public consultation on the revised policies on options & discretions” in the subject line.

Submitting comments by post

Using the above template, send your comments to:

European Central Bank
Secretariat to the Supervisory Board
“Public consultation on the revised policies on options & discretions”
60640 Frankfurt am Main
Germany

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