BAKGRUNN (fra kommisjonsforordningen)

(1) Under Article 119(1) of Regulation (EU) 2023/1114, the European Banking Authority (‘EBA’) is to establish, manage and chair a consultative supervisory college (‘the college’) for each issuer of a significant asset-referenced token or of a significant emoney token, to facilitate the carrying out of supervisory tasks and to allow for the coordination of supervisory activities under that Regulation. Article 119(2) thereof lists the entities that comprise the core membership of the college. 

(2) In order to ensure a consistent and coherent functioning of such colleges across the European Union, the EBA is to determine, under Article 119(8), first subparagraph, of Regulation (EU) 2023/1114, which of the entities referred to in Article 119(2), points (d), (e), (f), (h), of that Regulation are deemed to be the most relevant and, under Article 119(2), point (l), of that Regulation, in which Member States an assetreferenced token or an e-money token is deemed to be used at large scale. For that purpose, EBA should take into account the entities that rank highest based on suitable criteria, the particularities of each case and the balance between the need to ensure an appropriate representation of the relevant competent authorities in the college and the need to ensure the effective functioning of the college. 

(3) EBA should also be able to decide to invite to become a member of the college the competent authorities of only some of the entities deemed as most relevant under Article 119(2), points (d), (e), (f) and (h), of Regulation (EU) 2023/1114, where the EBA is of the view that those entities are the only ones relevant in their category for the work of the college.

(4) EBA should reassess, at least every 2 years, which authorities qualify to be members of the college under Article 119(2), points (d), (e), (f), (h) and (l), of Regulation (EU) 2023/1114. The frequency of the reassessment should be determined taking into account the need to ensure an appropriate representation of the relevant competent authorities in the college, as these may change over time, notably as a result of market developments affecting the asset-referenced token or e-money token, as well as the need to ensure the college’s stability. 

(5) In accordance with Article 119(6) of Regulation (EU) 2023/1114, the establishment and functioning of the college should be based on a written agreement between its members. Taking into account the timeline set out in Article 119(1) of that Regulation for the establishment of the college, it is appropriate to specify in this Regulation the practical arrangements for the conclusion of the written agreement. 

(6) The members of the college should discuss any possible entrustment of tasks among the college members under Article 119(5), point (c), of Regulation (EU) 2023/1114. Where a college is established for a credit institution issuing a significant e-money token, for which the supervisory responsibility under Regulation (EU) 2023/1114 remains with the competent prudential supervision authority and is not transferred to EBA, the latter should be able to entrust its tasks as chair of the college referred to in Article 119(7), points (b) to (e), of Regulation (EU) 2023/1114 to, or share them with, the prudential supervision authority competent to supervise that credit institution. Such entrustment or sharing of tasks might be necessary to ensure a more efficient coordination of the college, since that authority is in a better position to coordinate and communicate with other authorities relevant for the credit institution in question and has a better knowledge of the situation of that credit institution. Nevertheless, EBA should remain in charge of establishing written arrangements and procedures for the functioning of the college, after consulting the other members of the college, as required by Article 119(7), point (a), of Regulation (EU) 2023/1114, to ensure that it retains oversight of the chairing of the college. The written agreement referred to in Article 119(6) of that Regulation should also describe the arrangements on the voluntary entrustment of tasks among its members under Article 119(5), point (c), of that Regulation, where such entrustment takes place. 

(7) The chair of the college should have the possibility to invite other authorities, that are not members of the college, to attend a college meeting, or a particular agenda item. This might include authorities related to the issuer of significant asset-referenced token or a significant e-money token, or to the group it belongs to, on the basis of other sectoral legislation, such as the consolidating supervisor of a credit institution, as defined in Article 4(1), point (41), of Regulation (EU) No 575/2013, or the lead supervisor of the relevant anti-money laundering and countering the financing of terrorism supervisory college, as the case may be. The chair of the college should decide what information is relevant for those authorities and involve them in the relevant college meeting or activity accordingly. 

(8) The members of the college who are involved in a particular meeting or activity of the college should exchange documents and contributions to working documents with sufficient time in advance to enable all participants in the college meeting to actively contribute to the discussions. The minimum timeframes for the assessment of the relevant documentation by the members of the college should be specified in the written agreement referred to in Article 119(6) of Regulation (EU) 2023/1114, taking into account the complexity of the work and the size of the college, the topic at hand and any relevant timelines set out in that Regulation. 

(9) In order to facilitate the cooperation and information exchange among the members of the college, it is appropriate to further specify the general framework for the exchange of information between the members of the college. 

(10) This Regulation is based on the draft regulatory technical standards submitted to the Commission by the EBA. 

(11) The EBA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010,