4
. Where more than one institution authorised in the Union has as its parent the sam
e financial holding company or mixed financial holding company and none of these institutions has been authorised in the Member State in which th
e financial holding company or mixed financial ...[+++] holding company was set up, supervision on a consolidated basis shall be exercised by the competent authority that authorised the institution with the largest balance sheet total, which shall be considered, for the purposes of this Directive, as the institution controlled by an EU parent
financial holding company or EU parent mixed
financial holding company.