The Information Management System Portal ("IMAS portal") is an online platform of the European Central Bank ("ECB") which allows Authorised Credit Institutions ("ACIs") and third parties to submit information related to supervisory processes, track their status and exchange information with supervisors.
The IMAS Portal can be used by ACIs (significant or less significant) and third parties (non-supervised entities or natural persons) depending on the process category.
In the ECB’s website in the below link, supervised banks and third parties can find the terms of use of the IMAS Portal, how to get access, the regime of use per country and user guidance.
Sign In in IMAS
It is noted that the use of the IMAS Portal does not entail any change in the division of tasks and responsibilities or in the cooperation procedures followed by the ECB and the the Central Bank of Cyprus ("CBC") as national competent authority ("NCA").
1. Current procedure available on the IMAS Portal
As from 15 December 2022, in order to contribute to the goal of digitalisation and efficiency, the CBC successfully implemented the use of the IMAS Portal for the Fit and Proper ("FAP") assessment for significant entities supervised by the ECB.
Useful information for significant supervised entities applicable from 15 December 2022:
- As from 15 December 2022, Cyprus significant entities, which are directly supervised by the ECB, are required to submit all their FAP questionnaires through the IMAS Portal.
- At the same time, significant supervised entities should send an email to fitandproper@centralbank.cy notifying the CBC of the submission of the questionnaire on the IMAS Portal, stating therein the date of submission, the name and surname of the appointee and the proposed position. Notwithstanding the above, the originals of all documents must be kept at the registered office of the significant supervised entity and the supervisors reserve the right to request their submission or inspect them at any time. The CBC announcement dated 16 July 2021 (link) will no longer be applicable to significant supervised entities with effect from 15 December 2022.
- The FAP questionnaire is uniform in all member states participating in the SSM, as far as its core part is concerned. At the same time, the questionnaire contains certain national specificities that also need to be taken into account during its completion.
- The FAP questionnaire on the IMAS Portal contains mandatory fields that must be filled-in before the FAP questionnaire can be submitted. In case a mandatory field is not applicable, please insert N/A.
- As from 12 April 2024, the dynamic forms of the FAP questionnaire have been introduced by the ECB. In particular, only the FAP assessment criteria relevant to the specific position in line with national requirements are displayed in the FAP questionnaire in the IMAS Portal and need to be filled in for submitting a formal notification to the competent authorities.
- Use this link if you wish to download in PDF format the FAP Questionnaire for the Assessment of Suitability of the Members of the Management Body and Key Function Holders of significant supervised entities and the national specificities document.
2. Forthcoming extension of the use of the IMAS Portal to other procedures
The CBC intends to gradually extend the use of the IMAS Portal to the following procedures regarding Credit Institutions:
- Licensing of Credit Institutions
- Acquisition of Qualifying Holdings in Credit Institutions
- Passporting for Credit Institutions
- Voluntary withdrawals of authorisation of Credit Institutions
- Approval/Exemption of Financial Holding companies
The implementation date as of which the notification/application process for the above procedures should be made through the IMAS Portal is 2 September 2024.
For any relevant information or clarifications required, you may address an e-mail to LicensingSection@centralbank.cy.
Page last updated 11 July 2024