S.L. 371.17 Art. 6Large exposures.

(1) The competent authority shall fully exempt the exposures listed in Article 400(2) of the CRR from the application of Article 395(1) of the CRR where the conditions listed in Article 400(3) of the CRR, and as may be further specified in a Banking Rule, are met.

(2) By way of derogation from Article 400(2) and (3) of the CRR and in line with Article 493(3) of the CRR, for a transitional period until the entry into force of any legal act following the review in accordance with Article 507 of the CRR, but not after 31 December 2028, the exposures listed in Article 493(3) of the CRR shall be fully exempt from the application of Article 395(1) of the CRR.