ECB Releases Qualifying Holding Guide

NL Law

On 23 May 2023, the European Central Bank (ECB) published its guide on qualifying holding procedures (the Qualifying Holding Guide).


The Qualifying Holding Guide clarifies supervisory practices for qualifying holding assessments and aims to support applicants in qualifying holding acquisitions, typically triggered by M&A transactions.

The document provides practice guidance and clarifies the supervisory approach taken by ECB and the competent regulators in the EU Member States when assessing applications of acquirers of qualifying holdings. The Qualifying Holding Guide provides guidance in respect of:

  1. the scope of the persons required to undergo an assessment,
  2. how the assessment criteria shall be applied, and
  3. further guidance in respect of the key deliverables required in the assessment of qualifying holding procedures.

Finally, the document also provides information on the assessment of complex acquisition structures, the application of the principle of proportionality and specific procedural elements related to qualifying holding acquisitions.