AI Summary of Article 426 Updating Future liquidity requirements
The recent adoption of a delegated act by the Commission establishes the liquidity requirement in accordance with Article 460. Following this, the European Banking Authority (EBA) is empowered to draft implementing technical standards that specify the conditions under Articles 421(1), 422, and 424, excluding paragraphs 8, 9, and 10 of Article 422. This aligns with internationally agreed standards, enhancing regulatory compliance.
Moreover, the Commission holds the authority to adopt these implementing technical standards pursuant to Article 15 of Regulation (EU) No 1093/2010, further streamlining regulatory frameworks within the financial sector.
Article 426 Updating Future liquidity requirements
Following, the adoption by the Commission of a delegated act to specify the liquidity requirement in accordance with Article 460, EBA may develop draft implementing technical standards to specify the conditions set out in Article 421(1), Article 422, with the exception of paragraphs 8, 9 and 10 of that Article, and Article 424 to take account of standards agreed internationally.
Power is conferred on the Commission to adopt the impleÂmenting technical standards referred to in the first paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010.