EBA · 2024_6980 Rejected question

Definition of "financial holding company"

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
4, para. 1
Topic
Other issues
Submitted by
Competent authority
Submitted
2024-01-23
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Question

Does a financial institution need to have multiple subsidiaries to meet the definition of a financial holding company?

Background

According to the definition in Art. 4 (1) Nr. 20 CRR, a “financial holding company” means a financial institution, the subsidiaries of which are exclusively or mainly institutions or financial institutions, and which is not a mixed financial holding company. The terminology used within this definition, especially the term “subsidiaries” in plural form, could support the interpretation that there must exist more than one subsidiary in order to qualify as a financial holding company. Therefore, it is unclear if the plural form of "subsidiaries" is an intentional exception to the definition of a financial holding company.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2024_6980

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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