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Version date: 1 January 2014 - 27 December 2020
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Article 458 Macroprudential or systemic risk identified at the level of a Member State

1. Member States shall designate the authority in charge of the application of this Article. This authority shall be the competent authority or the designated authority.

2. Where the authority determined in accordance with paragraph 1 identifies changes in the intensity of macroprudential or systemic risk in the financial system with the potential to have serious negative consequences to the financial system and the real economy in a specific Member State and which that authority considers would better be addressed by means of stricter national measures, it shall notify the European Parliament, the Council, the Commission, the ESRB and EBA of that fact and submit relevant quantitative or qualitative evidence of all of the following:

(a) the changes in the intensity of macroprudential or systemic risk;

(b) the reasons why such changes could pose a threat to financial stability at national level;

(c) a justification of why Articles 124 and 164 of this Regulation and Articles 101, 103, 10