5:19 The governance rules set out in section 5.2 above apply mutatis mutandis to third-country groups.

5:20 In accordance with Articles 189 and 190 of the Brokerage Supervision Act, third-country groups whose activities through subsidiaries in the EU exceed the threshold of €40 billion are required to establish an intermediate parent company in the European Union. This requirement is intended to allow for more comprehensive supervision of activities in the EU and facilitate resolution. Where such an intermediate parent company is established in the European Union, the rules applicable to EU banking groups apply.