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;