The EBA Updates List Of Third-Country Groups And Branches Operating In The European Union And The European Economic Area

The European Banking Authority (EBA) today released an updated list of third-country groups (TCGs) and third-country branches (TCBs) operating across the European Union and European Economic Area (EU/EEA). This annual publication enhances market transparency by providing stakeholders with clear information on the ownership structures of institutions operating within the EU/EEA under foreign control.

The 2024 update identifies 439 third country groups from 50 countries outside the EU/EEA that are currently active in the area. Among these, 8 groups have established intermediate EU parent undertakings (IPUs), as required by EU regulations, with 2 groups having dual IPUs. Additionally, 61 TCGs have branches in the EU/EEA, resulting in a total of 95 third country branches spread across EU/EEA.

This Report is part of the EBA's efforts to ensure that market participants have clarity regarding the direct ownership and presence of foreign institutions within the EU/EEA, contributing to a stable and transparent banking environment.

Legal basis and background

• According to Article 21b of Directive 2013/36/EU (Capital Requirements Directive - CRD), third country groups (TCGs) operating through ​more than one institution in the Union and with total assets of EUR 40 billion or more are required to have an intermediate EU parent undertaking (IPU).
• The EBA has a key role to play in facilitating cooperation between National Competent Authorities and in supporting their IPU decision-making process.
• In July 2021, the EBA Guidelines (EBA/GL/2021/08) provided a common methodology for the calculation of the total value of assets in order to achieve consistent application of Union law.
• In May 2022, the EBA published the decision (EBA/DC/441) on supervisory reporting for the threshold monitoring of the intermediate EU parent undertaking to ensure a timely application of the IPU requirement.