Regulatory Alerts2022-01-04
Added · Updated
CSSF Circular 22/791 on Large Exposure Limits and Return to Compliance
The CSSF integrates the EBA Guidelines into its administrative practices and regulatory approach, requiring all concerned institutions to duly comply with the Guidelines as from 1 January 2022. The document specifies the information institutions must provide to the competent authority when reporting a breach of the large exposure limit under Article 396(1) of the CRR, including details on exceptional cases and measures to return to compliance. It applies on an individual and consolidated basis to Less Significant Institutions, CRR investment firms, and Luxembourg branches of credit institutions or CRR investment firms incorporated in a third country.
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