1. Member States shall require third-country branches to maintain a registry book enabling those third-country branches to track and keep a comprehensive and precise record of all the assets and liabilities booked or originated by the third-country branch in the Member State and to manage those assets and liabilities autonomously within the third-country branch. The registry book shall provide all necessary and sufficient information on the risks generated by the third-country branch and on how they are managed.
2. Member States shall require third-country branches to develop and regularly review and update a policy on booking arrangements for the management of the registry book referred to in paragraph 1. Such a policy shall be documented and approved by the relevant governing body of the head undertaking. The policy shall provide a clear rationale for the booking arrangements and set out how those arrangements align with the third-country branch's business strategy.
3. Member States
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