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Directive 2006/48/EC - Banking Consolidation Directive (recast as part of the Capital Requirements Directive - CRD)RecitalsTitle I Subject matter, scope and definitions (arts. 1-5)Article 1Article 2Article 3Article 4Article 5Title II Requirements for access to the taking up and pursuit of the business of credit institutions (arts. 6-22)Article 6Article 7Article 8Article 9Article 10Article 11Article 12Article 13Article 14Article 15Article 16Article 17Article 18Article 19Article 19aArticle 19bArticle 20Article 21Article 22Title III Provisions concerning the freedom of establishment and the freedom to provide services (arts. 23-37)Section 1 Credit institutions (art. 23)Article 23Section 2 Financial instit utions (art. 24)Article 24Section 3 Exercise of the right of establishment (arts. 25-27)Article 25Article 26Article 27Section 4 Exercise of the freedom to provide services (art. 28)Article 28Section 5 Powers of the competent authorities of the host Member State (arts. 29-37)Article 29Article 30Article 31Article 32Article 33Article 34Article 35Article 36Article 37Title IV Relations with third countries (arts. 38-39)Section 1 Notification in relation to third countries' undertakings and conditions of access to the markets of these countries (art. 38)Article 38Section 2 Cooperation with third countries' competent authorities regarding supervision on a consolidated basis (art. 39)Article 39Title V Principles and technical instruments for prudential supervision and disclosure (arts. 40-149)Chapter 1 Principles of prudential supervision (arts. 40-55)Section 1 Competence of home and host Member State (arts. 40-43)Article 40Article 41Article 42Article 42aArticle 42bArticle 43Section 2 Exchange of information and professional secrecy (arts. 44-52)Article 44Article 45Article 46Article 47Article 48Article 49Article 50Article 51Article 52Section 3 Duty of persons responsible for the legal control of annual and consolidated accounts (art. 53)Article 53Section 4 Power of sanction and right to apply to the courts (arts. 54-55)Article 54Article 55Chapter 2 Technical instruments of prudential supervision (arts. 56-122)Section 1 Own funds (arts. 56-67)Article 56Article 57Article 58Article 59Article 60Article 61Article 62Article 63Article 63aArticle 64Article 65Article 66Article 67Section 2 Provision against risks (arts. 68-75)Subsection 1 Level of application (arts. 68-73)Article 68Article 69Article 70Article 71Article 72Article 72aArticle 73Subsection 2 Calculation and reporting requirements (art. 74)Article 74Subsection 3 Minimum level of own funds (art. 75)Article 75Section 3 Minimum own funds requirements for credit risk (arts. 76-101)Article 76Article 77Subsection 1 Standardised approach (arts. 78-83)Article 78Article 79Article 80Article 81Article 82Article 83Subsection 2 Internal Ratings Based Approach (arts. 84-89)Article 84Article 85Article 86Article 87Article 88Article 89Subsection 3 Credit risk mitigation (arts. 90-93)Article 90Article 91Article 92Article 93Subsection 4 Securitisation (arts. 94-101)Article 94Article 95Article 96Article 97Article 98Article 99Article 100Article 101Section 4 Minimum own funds requirements or operational risk (arts. 102-105)Article 102Article 103Article 104Article 105Section 5 Large exposures (arts. 106-119)Article 106Article 107Article 108Article 109Article 110Article 111Article 112Article 113Article 114Article 115Article 116Article 117Article 118Article 119Section 6 Qualifying holdings outside the financial sector (arts. 120-122)Article 120Article 121Article 122Section 7 Exposures to transferred credit risk (art. 122a)Article 122aChapter 3 Credit institutions' assessment process (art. 123)Article 123Chapter 4 Supervision and disclosure by competent authorities (arts. 124-144)Section 1 Supervision (arts. 124-143)Article 124Article 125Article 126Article 127Article 128Article 129Article 130Article 131Article 131aArticle 132Article 133Article 134Article 135Article 136Article 137Article 138Article 139Article 140Article 141Article 142Article 143Section 2 Disclosure by competent authorities (art. 144)Article 144Chapter 5 Disclosure by credit institutions (arts. 145-149)Article 145Article 146Article 146aArticle 147Article 148Article 149Title VI Delegated acts and powers of execution (arts. 150-151c)Article 150Article 151Article 151a Exercise of the delegationArticle 151b Revocation of the delegationArticle 151c Objections to delegated actsTitle VII Transitional and Final provisions (arts. 152-160)Chapter 1 Transitional provisions (arts. 152-155)Article 152Article 153Article 154Article 155Chapter 2 Final provisions (arts. 156-160)Article 156Article 156aArticle 157Article 158Article 159Article 160Annex I List of activities subject to mutual recognitionAnnex II Classification of off-balance-sheet itemsAnnex III The treatment of counterparty credit risk of derivative instruments, repurchase transactions, securities orcommodities lending or borrowing transactions, long settlement transactions and margin lending transactionsAnnex III Part 1 DefinitionsAnnex III Part 2 Choice of the methodAnnex III Part 3 Mark-to-Market MethodAnnex III Part 4 Original Exposure MethodAnnex III Part 5 Standardised MethodAnnex III Part 6 Internal Model MethodAnnex III Part 7 Contractual netting (contracts for novation and other netting agreements)Annex IV Types of derivativesAnnex V Technical criteria concerning the organisation and treatment of risksAnnex VI Standardised approachAnnex VI Part 1 Risk weightsAnnex VI Part 2 Recognition of ECAIs and mapping of their credit assessmentsAnnex VI Part 3 Use of ECAIs' credit assessments for the determination of risk weightsAnnex VII Internal ratings based approachAnnex VII Part 1 Risk weighted exposure amounts and expected loss amountsAnnex VII Part 2 PD, LGD and MaturityAnnex VII Part 3 Exposure valueAnnex VII Part 4 Minimum requirements for IRB ApproachAnnex VIII Credit risk mitigationAnnex VIII Part 1 EligibilityAnnex VIII Part 2 Minimum RequirementsAnnex VIII Part 3 Calculating the effects of credit risk mitigationAnnex VIII Part 4 Maturity MismatchesAnnex VIII Part 5 Combinations of credit risk mitigation in the Standardised ApproachAnnex VIII Part 6 Basket CRM techniquesAnnex IX SecuritisationAnnex IX Part 1 Definitions for the purposes of Annex IXAnnex IX Part 2 Minimum requirements for recognition of significant credit risk transfer and calculation of risk-weighted exposure amounts and expected loss amounts for securitised exposuresAnnex IX Part 3 External credit assessmentsAnnex IX Part 4 CalculationAnnex X Operational riskAnnex X Part 1 Basic Indicator ApproachAnnex X Part 2 Standardised ApproachAnnex X Part 3 Advanced Measurement ApproachesAnnex X Part 4 Combined use of different methodologiesAnnex X Part 5 Loss event type classificationAnnex XI Technical criteria on review and evaluation by the competent authoritiesAnnex XII Technical criteria on transparency and disclosureAnnex XII Part 1 General criteriaAnnex XII Part 2 General requirementsAnnex XII Part 3 Qualifying requirements for the use of particular instruments or methodologiesAnnex XIIIAnnex XIII Part A Repealed Directives Together With Their Successive Amendments (referred To In Article 158)Annex XIII Part B deadlines for transposition (referred to in Article 158)Annex XIV Correlation tableDone at
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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2014 - onwards
Version 3 of 3

Article 103

The capital requirement for operational risk under the Basic Indicator Approach shall be a certain percentage of a relevant indicator, in accordance with the parameters set out in Annex X, Part 1.

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