CIUs

As from 1 October 2015, Article 15(1) of the Commission Delegated Regulation (EU) 2015/61 provides that the limit on the absolute amount of EUR 500 million (or equivalent amount in domestic currency) for CIUs applies to each credit institution on an individual basis. Article 2(3) of this Regulation and Article 11(1) of Regulation (EU) No 575/2013 (CRR) require the application of liquidity rules on a consolidated basis. Therefore, this limit would apply individually in respect of each institution in a consolidated group. Disclaimer: This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General for Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.