Directive 2006/48/EC of the European Parliament and of the council (repealed)Show full title

Article 150 U.K.

1. Without prejudice, regarding own funds, to the proposal that the Commission is to submit pursuant to Article 62, the technical adjustments in the following areas shall be adopted in accordance with the procedure referred to in Article 151(2):

(a) clarification of the definitions in order to take account, in the application of this Directive, of developments on financial markets;

(b) clarification of the definitions to ensure uniform application of this Directive;

(c) the alignment of terminology on, and the framing of definitions in accordance with, subsequent acts on credit institutions and related matters;

(d) technical adjustments to the list in Article 2;

(e) alteration of the amount of initial capital prescribed in Article 9 to take account of developments in the economic and monetary field;

(f) expansion of the content of the list referred to in Articles 23 and 24 and set out in Annex I or adaptation of the terminology used in that list to take account of developments on financial markets;

(g) the areas in which the competent authorities shall exchange information as listed in Article 42;

(h) technical adjustments in Articles 56 to 67 and in Article 74 as a result of developments in accounting standards or requirements which take account of Community legislation or with regard to convergence of supervisory practices;

(i) amendment of the list of exposure classes in Articles 79 and 86 in order to take account of developments on financial markets;

(j) the amount specified in Article 79(2)(c), Article 86(4)(a), Annex VII, Part 1, point 5 and Annex VII, Part 2, point 15 to take into account the effects of inflation;

(k) the list and classification of off‐balance‐sheet items in Annexes II and IV and their treatment in the determination of exposure values for the purposes of Title V, Chapter 2, Section 3; or

(l) adjustment of the provisions in Annexes V to XII in order to take account of developments on financial markets (in particular new financial products) or in accounting standards or requirements which take account of Community legislation, or with regard to convergence of supervisory practice.

2. The Commission may adopt the following implementing measures in accordance with the procedure referred to in Article 151(2):

(a) specification of the size of sudden and unexpected changes in the interest rates referred to in Article 124(5);

(b) a temporary reduction in the minimum level of own funds laid down in Article 75 and/or the risk weights laid down in Title V, Chapter 2, Section 3 in order to take account of specific circumstances;

(c) without prejudice to the report referred to in Article 119, clarification of exemptions provided for in Articles 111(4), 113, 115 and 116;

(d) specification of the key aspects on which aggregate statistical data are to be disclosed under Article 144(1)(d); or

(e) specification of the format, structure, contents list and annual publication date of the disclosures provided for in Article 144.

3. None of the implementing measures enacted may change the essential provisions of this Directive.

4. Without prejudice to the implementing measures already adopted, upon expiry of a two‐year period following the adoption of this Directive, and by 1 April 2008 at the latest, the application of the provisions of this Directive requiring the adoption of technical rules, amendments and decisions in accordance with paragraph 2 shall be suspended. Acting on a proposal from the Commission and in accordance with the procedure laid down in Article 251 of the Treaty, the Parliament and the Council may renew those provisions and, to that end, shall review them prior to the expiry of the period or by the date referred to in this paragraph, whichever the earlier.