The competent authorities shall require that every credit institution have sound administrative and accounting procedures and adequate internal control mechanisms for the purposes of identifying and recording all large exposures and subsequent changes to them, in accordance with this Directive, and for that of monitoring those exposures in the light of each credit institution's own exposure policies.
◷
New version applies from 01/01/2014 — introduced by Capital Requirements Directive.
257 provisions change.
Article 109 is deleted from 01/01/2014.