Term from supervisory law and referring to institutions that operate in several countries or even worldwide. Here, the national supervisory authority responsible for the parent company (group management) must cooperate with the respective supervisory authorities in the countries in which the institution has branches in order to rule out supervisory avoidance. In the event of differing assessments by the local supervisor and the consolidating supervisor, the latter has the final decision-making right under Art. 129, para. 2 of the Banking Directive. – See Banking Supervision, European, International Business Company, Managed Bank, Memorandum of Understanding, Models Task Force, Supervisory Review and Evaluation Process, Subgroup Supervision. – Cf. 2006 Annual Report of BaFin, pp. 45 ff. (corresponding regulations under Basel II; cooperation extending beyond Europe).
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