Consolidating supervisor

The concept of the consolidating supervisor is a significant innovation within Basel II in relation to international cooperation, and which has also been adopted in Basel III. Article 112 of Directive 2013/36/EU (CRD IV), implemented under Austrian law by Article 77b BWG, prescribes that the supervisory authority that is competent in regard to the supervision of the EU parent credit institution, assumes a central role (the cross-border coordination of supervisory activities).