(70)In order to ensure harmonious application of the provisions on large exposures, Member States should be allowed to provide for the two-stage application of the new limits. For smaller credit institutions, a longer transitional period may be warranted inasmuch as too rapid an application of the 25 % rule could reduce their lending activity too abruptly.
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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 70 changes in this version: compare with the current text.