in force 2021-06-28 MODIFIED+320 −141§
Amended by Regulation (EU) 2019/2033 32019R2033 · Regulation (EU) 2019/876 32019R0876 · Regulation (EU) 2021/558 32021R0558 · Regulation (EU) 2020/873 32020R0873
applies from: unchanged
The provision rephrases the notification and remediation-plan obligation using different wording but keeps the same substantive requirement to notify competent authorities and submit a restoration plan.
The list of items an institution must report daily is expanded and changed from referring to Title II or Title III to instead referring to Title III, Title IV, the implementing act referred to in Article 415(3) or (3a), or the delegated act referred to in Article 460(1), as appropriate.
The closing sentences on authorisation criteria and monitoring of the restoration plan are reworded, replacing 'more speedy restoration' with 'more rapid restoration of compliance' and adjusting minor phrasing without altering who monitors the plan.
Cited: Art. 414, v2 · Art. 414, v1
text before / after
02013R0575-20201228 → 02013R0575-20210629
Article 414
Compliance with liquidity requirements
Where an An institution that does not meet, or expects does not expect to meet meet, the requirement requirements set out in Article 412 or the general obligation set out in Article 413(1), including during times of stress, it shall immediately notify the competent authorities thereof and shall submit without undue delay to the competent authorities without undue delay a plan for the timely restoration of compliance with the requirements set out in Article 412 or Article 413(1). 413(1), as appropriate. Until compliance has been restored, the institution shall report the items referred to in Title II III, in Title IV, in the implementing act referred to in Article 415(3) or Title III, (3a) or in the delegated act referred to in Article 460(1), as appropriate, daily by the end of each business day day, unless the competent authority authorises a lower reporting frequency and a longer reporting delay. Competent authorities shall only grant such authorisations based on the basis of the individual situation of an institution and the institution, taking into account the scale and complexity of the institution's activities. They Competent authorities shall monitor the implementation of the such restoration plan and shall require a more speedy rapid restoration if of compliance where appropriate.