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New version applies from 18/05/2004 — introduced by Markets in Financial Instruments Directive (MIFID), Commission Directive 2004/69/EC. 147 provisions change. Later versions: 13/04/2005, 29/03/2006, 20/07/2006. Article 47 changes in this version: compare with the current text.

Article 47 - Solvency ratio level

Article 47
Solvency ratio level

1.Credit institutions shall be required permanently to maintain the ratio defined in Article 40 at a level of at least 8 %.

2.Notwithstanding paragraph 1, the competent authorities may prescribe higher minimum ratios as they consider appropriate.

3.If the ratio falls below 8 % the competent authorities shall ensure that the credit institution in question takes appropriate measures to restore the ratio to the agreed minimum as quickly as possible. Large exposures

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