S.L. 371.17 Art. 3ADeduction of holdings of financial sector entities.

For the purposes of calculating own funds on an individual basis and a sub-consolidated basis, in terms of Article 49(2)

of the CRR, where a credit institution is subject to supervision on a consolidated basis in accordance with Chapter 2 of Title II of Part One of the CRR, the competent authority may require the credit institution to deduct holdings of own funds instruments issued by financial sector entities included in the scope of consolidated supervision:

Provided that this shall only be required in specific cases, in particular in the case of structural separation of banking activities and resolution planning.