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Date: 13-Jun-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 321/2023 of 8 December 2023 amending Annex IX (Financial services) to the EEA Agreement [2024/1411]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The Decision of the EEA Joint Committee No 321/2023 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Implementing Regulation (EU) 2022/1994.
  • Commission Implementing Regulation (EU) 2022/1994 amends the implementing technical standards laid down in Implementing Regulation (EU) 2021/451 regarding own funds, asset encumbrance, liquidity and reporting for identifying global systemically important institutions.

Key Changes

  • The decision adds Commission Implementing Regulation (EU) 2022/1994 to point 14ab of Annex IX to the EEA Agreement.
  • Implementing Regulation (EU) 2022/1994 was published in the Official Journal of the European Union (OJ L 329, 22.12.2022, p. 1).
  • The text of Implementing Regulation (EU) 2022/1994 in Icelandic and Norwegian languages will be published in the EEA Supplement to the Official Journal of the European Union and shall be authentic.
  • The Decision entered into force on 9 December 2023, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Financial Institutions in the EEA

  • Action Item: Review current reporting frameworks and data collection methods to ensure compliance with the amendments introduced by Commission Implementing Regulation (EU) 2022/1994. Implement necessary changes to systems and processes.

Regulatory Bodies in the EEA

  • Action Item: Update supervisory frameworks and guidelines to reflect the changes introduced by Commission Implementing Regulation (EU) 2022/1994. Conduct inspections and reviews to assess compliance.

EEA Agreement

  • Action Item: Update the official versions of the EEA Agreement to include the amendment specified in the Decision.

Key Entities Referenced

EEA Joint Committee: The body responsible for adopting decisions related to the EEA Agreement. Commission Implementing Regulation (EU) 2022/1994: Regulation amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/451 as regards own funds, asset encumbrance, liquidity and reporting for the purposes of identifying global systemically important institutions. Implementing Regulation (EU) 2021/451: Regulation that lays down implementing technical standards regarding own funds, asset encumbrance, liquidity and reporting. EEA Agreement: Agreement on the European Economic Area.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2024/1411 13.6.2024 DECISION OF THE EEA JOINT COMMITTEE No 321/2023 of 8 December 2023 amending Annex IX (Financial services) to the EEA Agreement [2024/1411] THE EEA JOINT COMMITTEE, Having regard to the Agreement on the European Economic Area (“the EEA Agreement”), and in particular Article 98 thereof, Whereas: (1) Commission Implementing Regulation (EU) 2022/1994 of 21 November 2022 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/451 as regards own funds, asset encumbrance, liquidity and reporting for the purposes of identifying global systemically important institutions(1)is to be incorporated into the EEA Agreement. (2) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 The following indent is added in point 14ab (Commission Implementing Regulation (EU) 2021/451) of Annex IX to the EEA Agreement: ‘— 32022 R 1994: Commission Implementing Regulation (EU) 2022/1994 of 21 November 2022 (OJ L 329, 22.12.2022, p. 1).’ Article 2 The text of Implementing Regulation (EU) 2022/1994 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic. Article 3 This Decision shall enter into force on 9 December 2023, provided that all the notifications under Article 103(1) of the EEA Agreement have been made*(*). Article 4 This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union. Done at Brussels, 8 December 2023. For the EEA Joint Committee The President Pascal SCHAFHAUSER (1) OJ L 329, 22.12.2022, p. 1. (*) No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/1411/oj 1/1

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