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The European Central Bank (ECB) harmonises supervision rules for institutions supervised by national competent authorities

On 4 April 2017, Guideline (EU) 2017/697 of the European Central Bank (link) and Recommendation ECB/2017/10 (link) for national competent authorities (including the Bank of Lithuania) on exercising some options and discretions available in EU legislation in relation to less significant institutions directly supervised by national competent authorities have been adopted. In the Guideline and the Recommendation, the ECB pronounces on the application of Regulation (EU) 575/2013 establishing prudential requirements for credit institutions and of other related legislation.

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