When calculating the contributions referred to in Article 69(4) of Regulation (EU) No 806/2014, the Board shall take into account the phase of the business cycle and the impact that pro-cyclical contributions may have on the financial position of contributing institutions, as specified by the indicators referred to in Article 3(1).
Article 5 - Criteria for establishing the annual contributions after the initial period
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Article 5
Criteria for establishing the annual contributions after the initial period