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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 26 June 2021 - onwards
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Article 57 Transitional provisions

1. Articles 43 to 51 shall apply to commodity and emission allowance dealers from 26 June 2026.

2. Until 26 June 2026 or the date of application to credit institutions for own funds requirements purposes of the alternative standardised approach set out in Chapter 1a of Title IV of Part Three of the Regulation No (EU) No 575/2013 and the alternative internal model approach set out in Chapter 1b of Title IV of Part Three of the Regulation No EU) No 575/2013, whichever is the later, an investment firm shall apply the requirements set out in Title IV of Part Three of Regulation (EU) No 575/2013, as amended by Regulation (EU) 2019/630 for the purpose of calculating K-NPR.

3. By way of derogation from points (a) and (c) of Article 11(1), investment firms may apply lower own funds requirements for a period of five years from 26 June 2021, equal to:

(a) twice the relevant own funds requirement pursuant to Chapter 1 of Title I of Part Three of Regulation (EU) No 575/2013, subject to Article 93(

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