1. The third-country branch shall be subject to the assessment laid down in paragraph 2 of this Article where all third-country branches in the Union that belong to the same third-country group have an aggregate amount of assets in the Union as reported in accordance with Sub-Section 4 equal to or greater than EUR 40 billion, either:
(a) on average for the immediately preceding three annual reporting periods; or
(b) in absolute terms for at least three annual reporting periods during the immediately preceding five annual reporting periods.
The asset threshold referred to in the first subparagraph shall not include the assets held by the third-country branches in connection with central bank market operations entered into with ESCB central banks.
2. The competent authority responsible for the supervision of a third-country branch which belongs to a third-country group where all third-country branches in the Union have an aggregate amount of assets in the Union equal to or greater than E
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