Article 45 › 12

The resolution authority of a subsidiary may fully waive the application of paragraph 7 to that subsidiary where: (a) both the subsidiary and its parent undertaking are subject to authorisation and supervision by the same Member State; (b) the subsidiary is included in the supervision on a consolidated basis of the institution which is the parent undertaking; (c) the highest level group institution in the Member State of the subsidiary, where different to the Union parent institution, complies on a sub-consolidated basis with the minimum requirement set under paragraph 7; (d) there is no current or foreseen material practical or legal impediment to the prompt transfer of own funds or repayment of liabilities to the subsidiary by its parent undertaking; (e) either the parent undertaking satisfies the competent authority regarding the prudent management of the subsidiary and has declared, with the consent of the competent authority, that it guarantees the commitments entered into by the subsidiary, or the risks in the subsidiary are of no significance; (f) the risk evaluation, measurement and control procedures of the parent undertaking cover the subsidiary; (g) the parent undertaking holds more than 50 % of the voting rights attached to shares in the capital of the subsidiary or has the right to appoint or remove a majority of the members of the management body of the subsidiary; and (h) the competent authority of the subsidiary has fully waived the application of individual capital requirements to the subsidiary under Article 7(1) of Regulation (EU) No 575/2013.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04