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Recital 3

Recital 3

(3)Decision (EU) 2019/1349 (ECB/2019/25) should therefore be amended to clarify how the relevant oversight powers are to be exercised and procedural aspects are to be complied with in a case where two Eurosystem central banks are designated as competent authorities in relation to a SIPS that meets the criteria set out in Article 1(3)(iii) of Regulation (EU) No 795/2014 (ECB/2014/28).

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