Art. 519f

in force 2024-07-09 INSERTED+686 −0§

Amended by Regulation (EU) 2024/1623 32024R1623

applies from: unknown (an inserted provision states its own application date only in prose)

A new Article 519f has been added, requiring EBA to prepare a report assessing the overall prudential framework for small and non-complex institutions, including its relation to banking groups and specific business models, and taking into account the relevance of such institutions at institution level and by region for financial stability and local credit provision.

The new provision states that when considering options for changes to the prudential framework, EBA is to base itself on the principle that any simplified requirements are to be more conservative, and that EBA shall submit the report to the Commission by 31 December 2027.

Cited: Art. 519f, v2

Article 519f
Proportionality
EBA shall prepare a report assessing the overall prudential framework for small and non-complex institutions, in particular:
(a) assessing those requirements also in relation to banking groups and specific business models;
(b) taking into account the relevance of small and non-complex institutions at institution level and by region for maintaining financial stability and credit provision in local communities.
In considering options for changes in the prudential framework, EBA shall base itself on the overarching principle that any simplified requirements are to be more conservative.
EBA shall submit that report to the Commission by 31 December 2027.