1. European
  2. Legislation (EU)
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  4. 2014
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  1. Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17)
  2. Part IV Determining the status of a supervised entity as significant or less significant (arts. 39-72)
  3. Title 9 Particular circumstances that may justify the classification of a supervised entity as less significant although the criteria for classification as significant are fulfilled ( arts. 70-72)
  4. Article 70 Particular circumstances leading to the classification of a significant supervised entity as less significant
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Version status: Entered into force | Document consolidation status: No known changes
Version date: 15 May 2014 - onwards
  Version 2 of 2    

Article 70 Particular circumstances leading to the classification of a significant supervised entity as less significant

1. Particular circumstances, as referred to in the second and fifth subparagraphs of Article 6(4) of the SSM Regulation (hereinafter the 'particular circumstances') exist where there are specific and factual circumstances that make the classification of a supervised entity as significant inappropriate, taking into account the objectives and principles of the SSM Regulation and, in particular, the need to ensure the consistent application of high supervisory standards.

2. The term 'particular circumstances' shall be strictly interpreted.

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