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Recital 3

Recital 3

(3)Directive (EU) 2019/879 also extended the possibility of resolution authorities to waive individual entities from the MREL at solo level and to instead require MREL at consolidated level, and in particular to the circumstances referred to in Article 45f(3) and (4) and Article 45g of Directive 2014/59/EU. That amendment of Directive 2014/59/EU should be reflected in Article 8(2) of Delegated Regulation (EU) 2015/63.

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