(33)The own funds of a credit institutions can serve to absorb losses which are not matched by a sufficient volume of profits. The own funds also serve as an important yardstick for the competent authorities, in particular for the assessment of the solvency of credit institutions and for other prudential purposes.
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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.
Recital 33 changes in this version: compare with the current text.