Recital 24

(24) To provide transparency and clarity to the relevant institutions, the Authority should publish a list of the selected obliged entities within six months of the commencement of a selection period, after verifying that the information provided by the financial supervisors corresponds to the cross-border activities criteria and to the risk profile methodology. Therefore it is important that at the beginning of each selection period, the relevant financial supervisors and, if necessary, the obliged entities themselves, provide the Authority with up-to-date statistical information to determine the list of financial institutions eligible for assessment in accordance with the assessment entry criteria relating to their cross-border operations. In that context, the financial supervisors should inform the Authority of the risk profile category that a financial institution falls into in their jurisdictions pursuant to the methodology laid down in the regulatory technical standards. The Authority should then commence direct supervision of the selected obliged entities six months after the publication of the list. That time is needed to appropriately prepare the transfer of supervisory tasks from national to Union level, including the formation of a joint supervisory team and the adoption of any relevant working arrangements with the relevant financial supervisors.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.