PART 4Amendment of retained direct EU legislation
CHAPTER 1Amendment of the Capital Requirements Regulation
Article 119 (exposures to institutions)117
In Article 119 (exposures to institutions), in paragraph 4—
a
in the first sub-paragraph—
i
for “the ECB or by the central bank of a Member State” substitute “the Bank”;
ii
for “the central bank of the Member State in question” substitute “the Bank”;
b
for point (a) substitute—
a
the reserves are held in accordance with national requirements which are, in all material respects, equivalent to those in Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003;