This section provides information on the manner of exercising the options and discretions available in Union law.
Links
- Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
- Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms
- Commission Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
- Commission Implementing Regulation (EU) 2019/912 amending Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
- EBA, Supervisory Disclosure, Options and Discretions
OPTIONS AND DISCRETIONS SET OUT IN DIRECTIVE 2013/36/EU, REGULATION (EU) NO 575/2013 AND LCR DELEGATED REGULATION (EU) 2015/61 PDF
EU regulations
- Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
- Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firmas
- Commission Delegated Regulation (EU) 2015/61 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to liquidity coverage requirement for Credit Institutions
- Commission Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
- Commission Implementing Regulation (EU) 2019/912 amending Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
Croatian regulations
- Credit Institutions Act (OG 159/2013, 19/2015, 102/2015, 15/2018, 70/2019, 47/2020, 146/2020 and 151/2022)
- Decision implementing the part of Regulation (EU) No 575/2013 pertaining to credit institutions' qualifying holdings outside the financial sector and limits on credit institutions' holdings of tangible assets (OG 22/2019)
- Decision implementing the part of Regulation (EU) No 575/2013 pertaining to the valuation of assets and off-balance sheet items and the calculation of own funds and capital requirements (OG 160/2013, 140/2015, 113/2016, 87/2018, 53/2021 and 139/2022)
- Decision implementing the part of Regulation (EU) No 575/2013 pertaining to liquidity reporting (OG 105/2016, 145/2020 and 51/2023)
- Decision on large exposures of credit institutions (OG 111/2018, 120/2018, 92/2020 and 139/2022)
- Decision on statistical and supervisory reporting (OG 85/2018, 47/2019, 14/2020, 53/2020, 122/2020, 53/2021, 142/2021, 108/2022 and 27/2023)
- Decision on the application of the structural systemic risk buffer (OG 144/2020)
- Decision on detailed conditions for the establishment, operation, reporting and dissolution of branches of third-country credit institutions in the Republic of Croatia (OG 81/2014, 4/2021, 19/2021 and 139/2022)
- Decision on the Reciprocity of Macroprudential Policy Measures Adopted by Relevant Authorities of Other European Union Member States and Assessment of Cross-border Effects of Macroprudential Policy Measures (OG 60/2017)
- Accounting Act (OG 78/2015, 134/2015, 120/2016, 116/2018, 42/2020, 47/2020 and 114/2022)
In addition to options and discretions listed in the attached table, the Republic of Croatia has also used the option provided under Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (Article 402(1) and (2)) and for the purposes of calculating large exposures prohibited reducing the value of an exposure or any part of the exposure that is fully secured by residential or commercial immovable property by the pledged amount of the market or mortgage lending value of the property concerned (Article 145b of the Credit Institutions Act).
TRANSITIONAL OPTIONS AND DISCRETIONS SET OUT IN DIRECTIVE 2013/36/EU AND REGULATION (EU) NO 575/2013 PDF
EU regulations
- Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
- Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms
- Commission Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
- Commission Implementing Regulation (EU) 2019/912 amending Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
Croatian regulations
- Credit Institutions Act (OG 159/2013, 19/2015, 102/2015, 15/2018, 70/2019, 47/2020, 146/2020 and 151/2022)
- Decision implementing the part of Regulation (EU) No 575/2013 pertaining to the valuation of assets and off-balance sheet items and the calculation of own funds and capital requirements (OG 160/2013, 140/2015, 113/2016, 87/2018, 53/2021 and 139/2022)
- Decision on large exposures of credit institutions (OG 111/2018, 120/2018, 92/2020 and 139/2022)
In addition to options and discretions in the transition period listed in the attached table, the Croatian National Bank, in order to avoid unnecessary limitations for credit institutions that were investing in euro-denominated government bonds, has also used the option provided under Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic, which enables competent authorities, in the transition period until 31 December 2025, to allow institutions to increase large exposure limits for exposures to central governments and central banks of Member States where those exposures are denominated and funded in the domestic currency of another Member State (Article 500a (2) of Regulation (EU) 2020/873), and provided for transitional arrangements in terms of the treatment of such exposures (Article 3a of the Decision on large exposures of credit institutions).
VARIABLE ELEMENTS OF REMUNERATION (ARTICLE 94 OF DIRECTIVE 2013/36/EU) PDF
EU regulations
- Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms
- Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms
- Commission Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
- Commission Implementing Regulation (EU) 2019/912 amending Implementing Regulation (EU) No 650/2014 laying down implementing technical standards with regard to the format, structure, contents list and annual publication date of the information to be disclosed by competent authorities in accordance with Directive 2013/36/EU of the European Parliament and of the Council
Croatian regulations
- Credit Institutions Act (OG 159/2013, 19/2015, 102/2015, 15/2018, 70/2019, 47/2020, 146/2020 and 151/2022)
- Decision on staff remuneration (OG 31/2017, 57/2017, 4/2021, 145/2021 and 51/2023)
In addition to options and discretions set out in the attached table, the Republic of Croatia also used the option available under Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures (Article 94(4) and (5)) and for the purposes of exemption regarding deferral of variable remuneration, award of variable remuneration in instruments and retaining and paying discretionary pension benefits in instruments pursuant to Article 94(3) of the mentioned Directive and adjusted the threshold for a credit institution that is not a large credit institution to the amount of assets equivalent to one billion euro and the threshold for small remuneration of staff to the amount of 50,000.00 eura (Article 3, paragraph (1), items (28a) and (29d) and Article 100, paragraph (2) of the Credit Institutions Act).