R E G U L A T I O N ON THE SUPERVISION OF BANKS AND SAVINGS BANKS ON A CONSOLIDATED BASIS *

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1 (unofficial consolidated text) Official Gazette of the Republic of Slovenia, No. 135/06 of 21 December 2006 basic text (in force since 1 January 2007). Official Gazette of the Republic of Slovenia, No. 104/07 of 16 November 2007 Amendments and Additions (in force since 24 November 2007). Pursuant to point 1 of Article 129, point 11 of the first paragraph of Article 195, points 2, 3 and 4 of Article 226 and Article 405 of the Banking Act (Official Gazette of the Republic of Slovenia, No. 131/06) and the first paragraph of Article 31 of the Bank of Slovenia Act (Official Gazette of the Republic of Slovenia, No. 72/06 [official consolidated version]), the Governing Board of the Bank of Slovenia hereby issues the following R E G U L A T I O N ON THE SUPERVISION OF BANKS AND SAVINGS BANKS ON A CONSOLIDATED BASIS * 1. GENERAL PROVISIONS Article 1 (content of regulation) (1) This regulation sets out: (a) the detailed rules on the extent and manner of consolidation for the purposes of meeting the obligations of banks and savings banks (hereinafter: banks) on a consolidated basis, including the calculation of own funds and capital requirements for the banking group, the method for calculating obligations with regard to the banking group s investments in qualifying holdings in entities in the non-financial sector, and the method for calculating obligations with regard to the banking group s exposures; (b) reports of individual facts and circumstances of significance to assessing whether a bank is included in a banking group, and on the entities and relationships in the banking group; (c) the detailed content of the information and announcements that subsidiaries shall submit to the parent bank or to the bank controlled by the financial holding company in order to meet obligations on a consolidated basis; (d) the detailed content of the information and notifications that the financial holding company shall submit to the subsidiary bank in order to meet obligations on a consolidated basis; (e) the detailed rules on the supervision of transactions with a mixed-activity holding company and its subsidiaries. (2) Whenever this regulation makes reference to the provisions of other regulations, these provisions shall apply in their valid wording at the time in question. The official language of the document translated herein is Slovene. In case of any doubt or misuderstanding the Slovene version should therefore be considered final... * Sklep o nadzoru bank in hranilnice (Uradni list 135/06 in 104/07).

2 Article 2 (definition of terms) (1) The terms used in this regulation are the same as those defined in the Banking Act (Official Gazette of the Republic of Slovenia, No. 131/06; hereinafter: the ZBan-1), such as: (a) a bank and a credit institution in Article 13, (b) an investment firm and an institution in Article 14, (c) a financial institution in the first paragraph of Article 15, (d) a financial holding company and a mixed-activity holding company in Article 16, (e) an ancillary services undertaking in Article 17, (f) unless stipulated otherwise in individual cases, a supervisory authority is a supervisory authority specified in the third paragraph of Article 19, (g) participation in Article 24, (h) a parent undertaking and a subsidiary in Article 25, (i) a parent bank of a Member State in the first paragraph of Article 26, (j) a parent financial holding company of a Member State in the second paragraph of Article 26, (k) an EU parent bank and an EU parent financial holding company in Article 26, (l) a banking group in Article 31, (m) a subsidiary bank in the fourth paragraph of Article 13 in connection with the third paragraph of Article 221 of the ZBan-1. (2) For the purposes of this regulation, the following definitions apply: (a) regulations governing the calculation of capital requirements include the following regulations: the Regulation on the Calculation of Capital Requirements for Credit Risk Under the Standardised Approach for Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter: Regulation on Standardised Approach ); the Regulation on the Calculation of Capital Requirements for Credit Risk Under the Internal Ratings-Based Approach for Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter: Regulation on IRB); the Regulation on the Calculation of Capital Requirements for Operational Risk for Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter:regulation on Operational Rsk ); and the Regulation on the Calculation of Capital Requirements for Market Risks for Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter: Regulation on Market Risks); (b) permissions to use an advanced measurement approach include the permissions cited in points 1 to 5 of the first paragraph of Article 291 of the ZBan-1. (3) The term group, used in this regulation shall mean a group according to point 14. of Article 2 of Financial Conglomerates Act (Official Gazette of the Republic of Slovenia, No. 43/06) 2. EXTENT AND MANNER OF CONSOLIDATION Article 3 (1) A bank established in the Republic of Slovenia that pursuant to Article 131 of the ZBan-1 shall meet obligations on a consolidated basis shall meet these obligations in the extent and in the manner set out in this section. 2

3 (2) Notwithstanding the first paragraph of this article, in addition to meeting obligations on a consolidated basis, a bank established in the Republic of Slovenia shall also meet obligations on an individual basis pursuant to Article 130 of the ZBan-1. (3) Notwithstanding the first paragraph of this article, a bank established in the Republic of Slovenia that is a subsidiary of a financial holding company shall meet obligations on a consolidated basis in the case that the Bank of Slovenia is responsible for supervising the bank on a consolidated basis pursuant to Articles 287 and 288 of the ZBan-1. Article 4 (entities included in consolidation) For the purposes of this regulation, credit institutions, financial institutions, including financial holding companies, ancillary service undertakings and asset management companies shall be included in consolidation at the level of the banking group or banking sub-group in the extent and manner of consolidation specified in this section, irrespective of where they are established. Article 5 (full and proportional consolidation) (1) Figures from financial statements and other reports of subsidiaries specified in the first and sixth paragraphs of Article 297 of the ZBan-1 shall be included in consolidation with the parent undertaking using full consolidation. (2) Notwithstanding the first paragraph of this article, proportional consolidation shall be used in cases pursuant to the second and fourth paragraphs of Article 297 of the ZBan-1. Article 6 (treatment in other cases) (1) As a rule, participations and capital ties pursuant to the fifth paragraph of Article 297 of the ZBan- 1 shall be valued pursuant to the Regulation on the Books of Account and Annual Reports of Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 64/05 and 45/06; hereinafter: the books of account regulation) or pursuant to the International Financial Reporting Standards (hereinafter: the IFRS), unless the Bank of Slovenia stipulates otherwise in specific cases. (2) In cases of groups or ties pursuant to Article 298 of the ZBan-1, the Bank of Slovenia shall decide whether and how consolidation is to be carried out with regard to the purpose of supervising the bank specified in Article 222 of the ZBan-1. (3) The use of a method that is not full or proportional consolidation shall not imply that the particular entity is thereby included in supervision on a consolidated basis. Article 7 (possibility of exclusion of entities from consolidation) (1) A bank specified in Article 3 of this regulation may exclude a particular financial institution, ancillary services undertaking or asset management company that is a subsidiary of the bank or a financial holding company or in which the bank or financial holding company participates from consolidation, provided that it acquires permission for this from the Bank of Slovenia. (2) The Bank of Slovenia shall issue a permission to exclude an entity from consolidation if at least one of the following conditions is met: 3

4 (a) the entity is established in a third country in which there are legal impediments to the transfer of the necessary information for consolidated supervision; (b) the entity is of negligible interest with respect to the objectives of supervision of banks; (c) its inclusion in consolidation would give rise to inappropriate or misleading results with regard to the objectives of supervision on a consolidated basis. (3) A parent bank or a subsidiary bank of a financial holding company shall demonstrate to the Bank of Slovenia that the conditions specified in the second paragraph of this article have been met within the application for the permission to exclude entities from consolidation by submitting documentation specifying the reasons and entities for their exclusion and the supporting documentation. (4) An entity specified in the first paragraph of this article may only be excluded from consolidation as long as the conditions based on which the permission was issued hold. (5) If it notifies the Bank of Slovenia of this in advance, a bank may exclude a financial institution, ancillary services undertaking or asset management company that is a subsidiary of the bank or the parent financial holding company or in which the bank or financial holding company participates from consolidation without acquiring permission from the Bank of Slovenia, provided that the entity s balance-sheet total do not exceed the smaller of the following: 10 million, or 1% of the balance-sheet total of the entity that is its immediate parent or that participates in it. (6) If several entities meet the conditions for exclusion specified in point (b) of the second paragraph and the fifth paragraph of this article, these entities shall nevertheless be included in consolidation if together they are of a non-negligible interest with respect to the objectives of supervision on a consolidated basis. (7) A banking group s investment in the equity of subsidiaries that pursuant to this article are excluded from consolidation shall be taken into consideration in the calculation of the banking group s own funds with regard to the items deducted from original own funds and additional own funds. 3. METHOD FOR CALCULATING OWN FUNDS AND CAPITAL REQUIREMENTS FOR BANKING GROUP Article 8 (1) Meeting the obligations of a bank with regard to the minimum level of own funds specified in Article 131 of the ZBan-1 on a consolidated basis shall entail the obligation being met by the banking group or banking sub-group with regard to the level of application specified in the aforementioned article. (2) The provisions of other regulations to which this regulation refers in individual articles in this section shall apply mutatis mutandis to a banking group such that the banking group or banking subgroup (hereinafter: banking group) is interpreted in place of an individual entity, unless stipulated otherwise in this regulation. 4

5 3.1. Own funds of a banking group Article 9 (amount of own funds) The own funds of a banking group shall always reach at least an amount equal to the sum of the capital requirements specified in Article 136 of the ZBan-1 calculated on a consolidated basis. Article 10 (calculation of own funds ) (1) The own funds of a banking group shall be calculated on the basis of figures from the banking group s consolidated financial statements compiled in accordance with the books of account regulation, and in the extent and manner specified in Section 2 of this regulation. (2) The provisions regarding the own funds items, limits and deduction items pursuant to the Regulation on the Calculation of the Own Funds of Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter: the regulation on own funds) shall be taken into consideration mutatis mutandis in the calculation of the own funds of a banking group. Article 11 (inclusion of consolidation differences in calculation of own funds on consolidated basis) (1) Nothwithstanding the Article 10 of this regulation, the following consolidation differences may also be taken into consideration in the calculation of own funds on a consolidated basis: (a) minority interests, if full consolidation is used. Minority interests are disclosed as part of the items in which they are included in the calculation of own funds on an individual basis, and shall comply with the features of the individual own funds items in accordance with the regulation on own funds; (b) the first consolidation differences; (c) the translation differences included in consolidated reserves; and (d) other differences resulting from the inclusion of certain participation interests in consolidation. (2) If any of the items specified in the first paragraph of this article is a debit item, it shall be deducted from the calculation of own funds on a consolidated basis Capital requirements for a banking group Article 12 (1) A bank that pursuant to Article 131 of the ZBan-1 shall calculate a capital requirement on a consolidated basis shall calculate it as the sum of the capital requirements specified in the first paragraph of Article 136 of the ZBan-1 calculated at the level of the banking group. (2) The provisions of regulations governing the calculation of capital requirements for particular types of risk for banks and savings banks shall apply mutatis mutandis to the calculation of capital requirements at the level of the banking group, unless stipulated otherwise by this regulation. 5

6 (3) If Bank of Slovenia permission is required for the use of a specific approach or combination of approaches to calculating capital requirements for particular types of risk, the Bank of Slovenia permission shall also be acquired for the calculation on a consolidated basis. (4) The provisions of regulations governing the calculation of capital requirements shall also apply mutatis mutandis to a banking group in the acquisition of permissions in connection with transitions or a combination of approaches. Article 13 (capital requirements for credit risk) (1) The capital requirement for a credit risk for a banking group shall be calculated using the standardised approach or an internal ratings-based approach (hereinafter: IRB approach) on a consolidated basis. (2) The provisions of the regulation on standardised approach shall apply at the level of the banking group in the calculation of capital requirements for credit risk such that the basis for the calculation is given by figures for the consolidated financial situation of the bank or financial holding company. The capital requirement shall thereby be calculated for the group s exposures as if it were a single entity. (3) The provisions of the regulation on IRB and Article 16 of this regulation shall apply mutatis mutandis to the calculation of credit risk capital requirements using an IRB approach. (4) All the banking group s exposures to counterparties that are entities outside the banking group or entities that pursuant to Article 7 of this regulation are excluded from consolidation shall be included in the calculation of capital requirements for credit risk using an IRB approach. Notwithstanding point 8 of Article 5 of the standardised approach regulation, a risk weight of 0% shall apply to any internal exposures, i.e. exposures between entities in the banking group that are included in consolidation and appear either because they have been permanently excluded or have been temporarily excluded from the calculation using the IRB approach to calculating capital requirements. Article 14 (capital requirements for operational risk) (1) The capital requirement for operational risk for a banking group shall be calculated using the basic indicator approach, the standardised approach or the advanced measurement approach on a consolidated basis. (2) The provisions of the regulation for operational risk shall apply at the level of the banking group in the calculation of capital requirements for operational risk using the basic indicator approach such that the basis for the calculation is given by figures from the consolidated income statement of the bank or financial holding company. The capital requirement shall thereby be calculated for the group s exposures as if it were a single entity. (3) The application of the provisions specified in the second paragraph of this article shall entail that the basis for the calculation of the capital requirement specified in Section of the regulation for operational risk is being calculated using the figures for the banking group s net income. (4) The provisions of the regulation of operational risk shall apply at the level of the banking group in the calculation of capital requirement for operational risk using the standardised approach such that the basis for the calculation is given by figures from the consolidated income statement of the parent bank or parent financial holding company. 6

7 (5) The application of the provisions specified in the fourth paragraph of this article shall entail the following on a consolidated basis: the principles for business lines mapping apply at the level of the banking group, for which all the entities in the group shall provide figures to the bank specified in Article 3 of this regulation; the basis for calculating the capital requirement defined for each business line in Article 12 of the regulation on operational risk is calculated on the basis of figures for the banking group s net income as if it were a single entity; the general risk management standards and the qualifying criteria specified in Article 14 of the regulation on operational risk are constantly met within the group. Article 15 (capital requirements for market risks) (2) The capital requirement for market risks for a banking group shall be calculated as the sum of the capital requirements specified in Subsection of the ZBan-1 for the trading book items, for foreign exchange risk and for commodities risk at the level of the banking group. (3) A bank specified in Article 3 of this regulation shall calculate and meet the capital requirements specified in this article on a consolidated basis if the banking group meets the conditions specified in the third paragraph of Article 7 or Article 75 regulation on market risks, irrespective of whether the bank is obliged to calculate and meet the capital requirements specified in the first paragraph of this article on an individual basis. (4) The particular capital requirements specified in the first paragraph of this article shall be calculated separately for the parent undertaking and the subsidiary, and summed only afterwards. No netting of trading book positions or netting of positions in foreign exchange or commodities between the various entities in the group shall be allowed, unless they are performed in accordance with Article 94 of the regulation on market risks. (5) The provisions of regulation on market risks shall apply to the calculation of the particular capital requirements specified in the first paragraph of this article. Notwithstanding the first sentence of this paragraph, the capital requirements for particular entities in the group that are established in another Member State or a third country shall be calculated in accordance with the methodology applying in the country in which the particular entity is established, provided that this is harmonised with Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions. (6) If the methodology for calculating capital requirements for market risks prescribed by the authorities responsible for exercising supervision of entities on an individual basis is not substantively comparable with the methodology specified in the fourth paragraph of this article: (a) the calculation of the capital requirements for foreign-exchange risks and capital requirements for commodities risk shall be provided according to the regulation on market risks; (b) the items from the trading book of these entities shall be included together with items of the non-trading book in the calculation of the capital requirements for credit risk on a consolidated basis and the capital requirements pursuant to point a) first paragraph of Article 7 of the regulation on market risks shall not be calculated. 7

8 Article 16 (obtaining permission for EU parent bank to use advanced measurement approaches) (1) A bank established in the Republic of Slovenia that is an EU parent bank or is a subsidiary of an EU parent financial holding company shall for the use of the advanced measurement approach to calculating capital requirements on a consolidated basis obtain permission from the Bank of Slovenia in accordance with the regulations governing the calculation of capital requirements. (2) A bank specified in the first paragraph of this article shall submit an application together with the subsidiaries that is a joint application pursuant to Article 291 of the ZBan-1 for granting permissions for the group, i.e. permissions to calculate capital requirements on a consolidated basis and to calculate capital requirements for individual institutions on an individual basis. (3) In the event of receiving an application specified in the first paragraph of this article, the Bank of Slovenia shall cooperate with the authorities responsible for supervision of other institutions in the group in accordance with Article 291 of the ZBan-1 and the guidelines issued by the Committee of European Banking Supervisors. 4. MANNER FOR CALCULATING QUALIFYING HOLDINGS OF BANKING GROUPOUTSIDE THE FINANCIAL SECTOR Article 17 (1) Qualifying holdings of banking group in a particular undertaking outside the financial sector and the total amount of the banking group s qualifying holdings in undertakings outside the financial sector may not exceed the limits specified in Article 170 of the ZBan-1. (2) For the purposes of calculating the obligations specified in the first paragraph of this article, the calculation of the own funds of a banking group shall be adjusted in the manner specified in the second and third paragraphs of Article 2 of the Regulation on Qualifying Holdings of Banks and Savings Banks Outside the Financial Sector (Official Gazette of the Republic of Slovenia, No. 135/06; hereinafter: regulation on qualifying holdings) by taking the banking group s own funds items into consideration in place of the bank s own funds items in the aforementioned calculation. (3) A banking group may only exceed the limits on qualifying holdings specified in the first paragraph of this article under the conditions specified in Article 5 of the regulation on qualifying holdings, these being applied mutatis mutandis to the banking group. 5. MANNER FOR CALCULATING BANKING GROUP S EXPOSURES Article 18 (1) A banking group s exposures to individual clients and to a group of connected clients may not exceed the limits specified in the first and third paragraphs of Article 165 and the first paragraph of Article 166 of the ZBan-1. (2) For the purposes of this regulation, a banking group s exposure to an individual client or to a group of connected clients shall be calculated on the basis of asset items and off-balance-sheet items 8

9 from the consolidated situation that comply with the definition of an overall exposure specified in the fourth paragraph of Article 4 of the Regulation on Large Exposures (Official Gazette of the Republic of Slovenia, No. 135/06; regulation on large exposures) and relate to the individual client or group of connected clients. (3) Notwithstanding the second paragraph of this article, in the calculation of the exposure from trading items a bank that pursuant to Section 2 of this regulation is obliged to fulfil the provisions on large exposures on a consolidated basis may net the positions from its trading book and the positions from the trading books of the other entities included in the calculation of exposure on a consolidated basis in accordance with the conditions specified in Article 94 of the regulation on market risks. (4) Notwithstanding the second paragraph of this article, the Bank of Slovenia may request that exposures to entities excluded from consolidation be added to the exposure calculated pursuant to the second paragraph of this article for a more complete calculation of the banking group s exposure. 6. CONTENT AND EXTENT OF INFORMATION SUBMITTED BY SUBSIDIARIES AND PARENT FINANCIAL HOLDING COMPANY FOR CONSOLIDATION Article 19 (submission of information by subsidiaries) (1) Pursuant to the first paragraph of Article 289 of the ZBan-1, subsidiaries shall submit to the parent bank in the banking group or to the bank controlled by the parent financial holding company all the information that it requires to meet its obligations on a consolidated basis. (2) The information specified in the first paragraph of this article shall in particular include: (a) the financial report, business report and auditor s report of undertaking, if it exists; (b) the quarterly financial reports (balance sheet, income statement); (c) a list of shareholders or holders of participating interests and other rights; (d) a list of the members of the undertakings management and supervisory bodies, the parties related thereto on the basis of a close links or close family relationship, and details of their membership in the management and supervisory bodies of other entities; (e) detailed information in connection with individual own funds items required for assessing whether they comply with the characteristics and conditions for inclusion in the calculation of own funds on a consolidated basis, such as: the amounts of individual classes of shares; the features or contracts relating to any subordinated instruments or innovative instruments; the amounts of indirectly acquired own shares (shares of all entities in the group) and own shares (shares of entities in the group) pledged as collateral; a breakdown of the amounts of any revaluation reserves that shall be deducted in the calculation of own funds; (f) the amounts of investments in shares, interests or other capital instruments of individual credit institutions, financial institutions, insurance undertakings, reinsurance undertakings, pension companies and other entities that are required for calculating deduction items in the calculation of own funds or in connection with obligations regarding limits on qualifying holdings of banking group outside the financial sector; (g) data that a bank specified in Article 3 of this regulation requires in connection with the calculation of capital requirements depending on the use of an approach for calculating capital requirements on a consolidated basis; 9

10 (h) the amounts of exposures from the non-trading book and trading book to individual clients and to groups of connected clients; and (i) other information required for meeting obligations on a consolidated basis. Article 20 (submission of information by parent financial holding companies) (1) Pursuant to the second paragraph of Article 289 of the ZBan-1, a parent financial holding company shall submit to its subsidiary bank all the information that it requires to meet its obligations on a consolidated basis. (2) The information specified in the first paragraph of this article shall in particular include the reports, facts and data specified in the second paragraph of Article 19 of this regulation. 7. SUPERVISION OF TRANSACTIONS WITH MIXED-ACTIVITY HOLDING COMPANIES Article 21 (1) A bank that is a subsidiary of a mixed-activity holding company shall have in place adequate procedures for monitoring and managing the risks in accordance with Article 175 of the ZBan-1 that originate in transactions with the mixed-activity holding company and its subsidiaries. (2) For each bank that is a subsidiary of a mixed-activity holding company, the Bank of Slovenia shall stipulate the deadlines, the manner, and the type and value of transactions with the mixed-activity holding company and its subsidiaries that shall be reported to the Bank of Slovenia. (3) In supervising transactions with a mixed-activity holding company specified in the first paragraph of this article, the Bank of Slovenia shall in particular conduct supervision of the procedures specified in the first paragraph of this article with the aim of determining the bank s exposure to the risk of contagion, the risk of conflicts of interests and the risk of circumvention of the provisions of the ZBan REPORTING TO BANK OF SLOVENIA Article 22 (1) A bank specified in Article 3 of this regulation shall develop a system and procedures for calculating and monitoring own funds, capital requirements and other requirements in the banking group such that prompt, accurate reporting to the Bank of Slovenia of fulfilment of requirements on a consolidated basis. (2) The parent bank and all other entities in a banking group shall establish and implement a risk management system specified in Article 124 of the ZBan-1 at the level of the group pursuant to the seventh paragraph of Article 131 and the fifth paragraph of Article 289 of the ZBan-1 such that the compilation of all information and data required for supervision on a consolidated basis is facilitated. 10

11 8.1. Report on the structure of a group Article 23 (obligation to compile report on structure of group) A bank that is a parent undertaking of the Republic of Slovenia or a bank that is a subsidiary of a financial holding company shall compile a report on the structure of the group, and submit it to the Bank of Slovenia, for an assessment to be made of whether and to what extent the group is to be the subject of consolidated supervision pursuant to this regulation. Article 24 (content of report on structure of group) (1) The report on the structure of a group specified in Article 23 of this regulation shall contain a list of the entities, an indication of specific information on the entities in the group, and a description of the relationships between the entities in the group. (2) The information on the entities in a group shall contain at least: the title, registration number, business activity and total assets; the share capital of the entities, the group s share of the capital and/or voting rights, and a list of the other entities that have qualifying holdings in these entities; the members of the entities governing bodies, and an indication of any membership that they hold in the governing bodies of other entities, including the other entities business activities; an indication of the authority responsible for supervision of each entity on an individual basis, particularly entities in another country; an indication of whether audits are conducted, and the title of the auditor; a list of the most common transactions that the entities conduct for other entities in the group; the method of consolidation of the entities for the purposes of this regulation; any additional information required for the overview above the structure of the group and the relationships in the group. (3) In the illustration specified in the second paragraph of this article, it shall also be necessary to cite the entities in the group that pursuant to this regulation are not the subject of consolidation, i.e.: entities that are not entities specified in Article 4 of this regulation; and entities that pursuant to Article 7 of this regulation are excluded from consolidation, with an indication of the reasons for exclusion and evidence that the reasons for exclusion still exist. (4) The capital ties between entities in the group shall be illustrated in the form of an organogram or schematic representation that clearly shows the direct and indirect shares in capital or voting rights, or any other ties by which the parent undertaking controls or exercises a dominant or significant influence over the entity or by which it is related by joint control. Article 25 (deadlines for submission of report) (1) A bank specified in Article 23 of this regulation shall submit the report on the structure of the group to the Bank of Slovenia for the situation as at the final day of each half-year. The deadlines for 11

12 submitting the report on the structure of the group shall be 31 January of the following year for the report as at the final day of the year, and 31 July of the current year for the report as at 30 June. (2) There shall be no need for a bank specified in the first paragraph of this article to submit a report on the structure of the banking group to the Bank of Slovenia if there have been no significant changes in the structure of the group and the relationships between the entities in the group since the previous reporting period, but it shall notify the Bank of Slovenia of this fact by the deadlines specified in the first paragraph of this article. (3) In the event of a special request by the Bank of Slovenia, a bank specified in Article 3 of this regulation shall compile a report on the situation as at a date stipulated by the Bank of Slovenia and submit it by the deadline stipulated. Article 26 (notification of changes in group) The parent bank, financial holding company or mixed-activity holding company shall notify the Bank of Slovenia without delay of any change in the structure of the group and of other facts that are of significance to supervision on a consolidated basis Banking group s consolidated financial statements Article 27 (submission of banking group s unaudited consolidated financial statements) (1) For the purposes of supervision on a consolidated basis, a bank specified in Article 3 of this regulation shall submit the banking group s unaudited consolidated balance sheet and unaudited income statement (hereinafter: consolidated financial statements), compiled in the manner and extent specified in Section 4 of this regulation, in the form of the prescribed schemes that are an appendix to the books of account regulation. (2) When compiling the consolidated financial statements for the purposes of this regulation, a bank specified in the first paragraph of this article shall ensure the necessary transparency, and shall submit additional reports to clarify the consolidated financial statements at the request of the Bank of Slovenia. (3) The clarification of reports specified in the second paragraph of this article shall entail the reports being compiled with a clear illustration of the combination of the significant and related items from the financial statements of the parent undertakings and subsidiaries included in consolidation pursuant to this regulation, their intra-group relations, and their eliminations, and an illustration of the differences and conversions in the translation of figures into the consolidated financial statements. (4) A bank specified in Article 3 of this regulation shall submit the reports specified in the first paragraph of this article to the Bank of Slovenia for the situation as at the final day of each quarter. The final deadlines for submitting the reports shall be: 31 March of the current year for the situation as at 31 December of the previous year; 31 May for the situation as at 31 March of the current year; 31 August for the situation as at 30 June of the current year; and 30 November for the situation as at 30 September of the current year. 12

13 (5) In the event of a special request by the Bank of Slovenia, a bank specified in Article 3 of this regulation shall compile the reports specified in the first paragraph of this article on the situation as at a date stipulated by the Bank of Slovenia, submitting them by the deadline stipulated Submission of other reports Article 28 (1) A bank specified in Article 3 of this regulation shall submit reports on the following to the Bank of Slovenia by the deadlines and in the manner set out in the regulations in question: (a) the calculation of own funds and capital requirements on a consolidated basis in the form of the forms constituting part of the Regulation on the Reporting of Own Funds and Capital Requirements of Banks and Savings Banks (Official Gazette of the Republic of Slovenia, No. 135/06); (b) large exposures in the form of the forms constituting part of the regulation on large exposures; (c) qualifying holdings of the banking group in undertakings outside the financial sector in the form of the forms constituting part of the regulation on qualifying holdings. (2) In the reports specified in the first paragraph of this article, the title of the report shall have the word consolidated added. 9. TRANSITIONAL AND FINAL PROVISIONS Article 29 (application of provisions) (1) On the day that this regulation enters into force, the Regulation on the Supervision of Banks and Savings Banks on a Consolidated Basis (Official Gazette of the Republic of Slovenia, No. 109/99) shall cease to be in force. (2) Notwithstanding Article 25 of this regulation, a bank shall submit the first report on the banking group in accordance with Article 24 of this regulation for the situation as at 31 March 2007 by 30 April (3) Notwithstanding the fourth paragraph of Article 27 of this regulation, a bank shall submit the 2007 consolidated financial statements for the situations as at 30 June 2007 and 31 December 2007 only. (4) A bank that in accordance with Article 405 of the ZBan-1 defers the use of the standardised approach for calculating capital requirements on credit risk shall also apply the transitional provisions of the regulation on large exposures and the regulations governing the calculation of capital requirements for the purposes of this regulation. 13

14 Article 30 (entry into force) This regulation shall enter into force on 1 January President of the Governing Board of the Bank of Slovenia dr. Marko Kranjec 14

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