THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Central Bank [OJ C 180, 29.5.2020, p. 4.],
Having regard to the opinion of the European Economic and Social Committee [Opinion of 10 June 2020 (not yet published in the Official Journal).],
Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 18 June 2020 (not yet published in the Official Journal) and decision of the Council of 24 June 2020.],
Whereas:
(1) Regulation (EU) No 575/2013 of the European Parliament and of the Council [Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms a
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