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  1. Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17)
  2. Part IV Determining the status of a supervised entity as significant or less significant (arts. 39-72)
  3. Title 8 ECB decision to directly supervise less significant supervised entities pursuant to article 6(5)(b) of the SSM regulation (arts. 67-69)
  4. Article 69 Procedure for preparing ECB decisions pursuant to Article 6(5)(b) of the SSM Regulation on the ECB's own initiative
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Version status: Entered into force | Document consolidation status: No known changes
Version date: 15 May 2014 - onwards
  Version 2 of 2    

Article 69 Procedure for preparing ECB decisions pursuant to Article 6(5)(b) of the SSM Regulation on the ECB's own initiative

1. The ECB may request an NCA to provide a report setting out the supervisory history and risk profile of a less significant supervised entity or less significant supervised group. The ECB shall specify the date by which such report should be submitted to it.

2. The ECB shall consult with the NCA prior to its final assessment as to whether supervision of the less significant supervised entity or the less significant supervised group by the ECB is necessary in order to ensure the consistent application of high supervisory standards.

3. If the ECB concludes that direct supervision by the ECB of the less significant supervised entity or less significant supervised group is necessary in order to ensure the consistent application of high supervisory standards, it shall adopt an ECB decision in accordance with Title 2.

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