(1)Guideline (EU) 2017/697 of the European Central Bank (ECB/2017/9) 2 establishes general policies for the exercise of certain options and discretions available in Union law by national competent authorities in relation to less significant institutions. Regulation (EU) 2024/1623 of the European Parliament and of the Council 3 deleted the option provided in Article 178(1), point (b), of Council Regulation (EU) No 575/2013 4 for competent authorities to extend to 180 the number of days past due before a material credit obligation referred to therein is considered to be in default. In order to align Guideline (EU) 2017/697 (ECB/2017/9) with Regulation (EU) No 575/2013 in relation to the deleted option, it is therefore necessary to delete the corresponding provision in that Guideline.
Recital 1
Recital 1
- 2 Guideline (EU) 2017/697 of the European Central Bank of 4 April 2017 on the exercise of the options and discretions available in Union law by national competent authorities in relation to less significant institutions (ECB/2017/9) ( OJ L 101, 13.4.2017, p. 156 , ELI: http://data.europa.eu/eli/guideline/2017/697/oj ). ↩
- 3 Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024 amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor ( OJ L, 2024/1623, 19.6.2024, ELI: http://data.europa.eu/eli/reg/2024/1623/oj ). ↩
- 4 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 ( OJ L 176, 27.6.2013, p.1 , ELI: http://data.europa.eu/eli/reg/2013/575/oj ). ↩