Directive 2000/12/EC of the European Parliament and of the CouncilShow full title

Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions

Article 38U.K.Deductions and limits

1.The items referred to in points (4) to (8) of Article 34(2), shall be subject to the following limits:

(a)the total of the items in points (4) to (8) may not exceed a maximum of 100 % of the items in points (1) plus (2) and (3) minus (9), (10) and (11);

(b)the total of the items in points (7) and (8) may not exceed a maximum of 50 % of the items in points (1) plus (2) and (3) minus (9), (10) and (11);

(c)the total of the items in points (12) and (13) shall be deducted from the total of the items.

2.The competent authorities may authorise credit institutions to exceed the limit laid down in paragraph 1 in temporary and exceptional circumstances.