The provision of banking services on the basis of an authorisation granted in another EU Member State (passporting)

Slovak statutory law:

Act No 483/2001 on banks (hereinafter ‘the Banking Act’)

EU legal acts:

Commission Implementing Regulation (EU) No 2022/193 of 17 November 2021 amending the implementing technical standards laid down in Implementing Regulation (EU) No 926/2014 laying down standard forms, templates and procedures as regards the information to be notified when exercising the right of establishment and the freedom to provide services

Commission Implementing Regulation (EU) No 926/2014 of 27 August 2014 laying down implementing technical standards with regard to standard forms, templates and procedures for notifications relating to the exercise of the right of establishment and the freedom to provide services according to Directive 2013/36/EU of the European Parliament and of the Council

Commission Delegated Regulation (EU) No 2022/192 of 20 October 2021 amending the regulatory technical standards laid down in Commission Delegated Regulation (EU) No 1151/2014 as regards the information to be notified when exercising the right of establishment and the freedom to provide services

Commission Delegated Regulation (EU) No 1151/2014 of 4 June 2014  supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards on the information to be notified when exercising the right of establishment and the freedom to provide services

Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC Text with EEA relevance

• The freedom to provide services (without establishing a branch) within the territory of another Member State

The freedom to provide services (without establishing a branch) within the territory of another Member State A bank wishing to carry out banking activities (other than depository activities) within the territory of another Member State for the first time, without establishing a branch, must notify Národná banka Slovenska (NBS) of the activities which it intends to carry out. Within one month after receiving this notification, NBS must communicate it to the competent supervisory authority of the host Member State. The bank must notify its intention using the services passport notification form laid down in Annex V of Commission Implementing Regulation (EU) No 2022/193 of 17 November 2021 amending the implementing technical standards laid down in Implementing Regulation (EU) No 926/2014 laying down standard forms, templates and procedures as regards the information to be notified when exercising the right of establishment and the freedom to provide services (hereinafter ‘Implementing Regulation No 2022/193’).

Form for the submission of services passport notification

A bank intending to provide cross-border services in more than one Member State simultaneously and to the same extent is not required to submit multiple forms. The bank need only submit one form in which it lists all the Member States in question. Any changes in the bank’s provision of cross-border services must also be notified to NBS using the above form. It is helpful if the bank states both the old and new services with the new services possibly highlighted or written in a different colour. If the bank intends to discontinue its business in another Member State, it should notify Národná banka Slovenska of this fact and state the effective date of the discontinuation of its business.

• Establishment of a branch within the territory of another Member State

A bank wishing to establish a branch in another Member States must apply in writing to Národná banka Slovenska for approval to establish the branch. The application must contain all of the following information:

a) the Member State within the territory of which it plans to establish a branch;

b) the address of the branch’s registered office in the Member State;

c) the forenames and surnames of the persons responsible for the management of the branch;

d) a programme of operations setting out, inter alia, the types of business envisaged and a proposed strategy for the branch’s operation, predicated on realistic economic calculations;

e) the branch’s organisational structure. The bank must use the branch passport notification form laid down in Annex I of Implementing Regulation No 2022/193.

Form for the submission of a branch passport notification or a change in a branch particulars notification

• Any change in the information contained in the initial branch passport notification

Any change in the information contained in the initial branch passport notification must be notified simultaneously to NBS and to the host supervisory authority using the form laid down in Annex I of Implementing Regulation No 2022/193 at least one month before the change takes effect. (Such changes may include, for example, a change in the branch’s senior management or organisational structure, the opening or closure of a place of business, changes in reporting structures, a change of the branch’s registered office address.) Where a bank decides to cease its activities in another Member State by terminating the operation of its branch in that country, it must notify NBS and the host supervisory authority of its decision using the form laid down in Annex IV of Implementing Regulation No 2022/193.

Form for the notification of a change which concerns a planned termination of the operation of a branch

• The freedom to provide services (without establishing a branch) within the territory of Slovakia

A foreign credit institution established in a Member State other than Slovakia may carry out banking activities (other than depository activities) within the territory of Slovakia without establishing a branch. Before it first does so, the competent supervisory authority of its home Member State must communicate to NBS the credit institution’s notification of the activities that it intends to carry out (services passport notification).

The services passport notification must be submitted using the form laid down in Annex V of Implementing Regulation No 2022/193.

Form for the submission of services passport notification

• Establishment of a branch of a credit institution within the territory of Slovakia

A foreign credit institution established in a Member State other than Slovakia may carry out banking activities (other than depository activities) within the territory of Slovakia by establishing a branch for this purpose. Before the credit institution establishes the branch, the competent supervisory authority of its home Member State must communicate to NBS the credit institution’s notification of its intention to establish the branch (branch passport notification).

The branch passport notification must be submitted using the form laid down Annex I of Implementing Regulation No 2022/193.

Form for the submission of a branch passport notification or a change in a branch particulars notification

• Any change in the information contained in the initial branch passport notification

must be notified to the home supervisory authority and to NBS using the form laid down in Annex I of Implementing Regulation No 2022/193 at least one month before the change takes effect. (Such changes may include, for example, a change in the branch’s senior management or organisational structure, the opening or closure of a place of business, changes in reporting structures, a change of the branch’s registered office address.)

Where a foreign credit institution decides to cease its activities in Slovakia by terminating the operation of its branch in the country, it must notify the home supervisory authority and NBS of its decision using the form laid down in Annex IV of Implementing Regulation No 2022/193.

Form for the notification of a change which concerns a planned termination of the operation of a branch