TITLE VPRINCIPLES AND TECHNICAL INSTRUMENTS FOR PRUDENTIAL SUPERVISION
CHAPTER 2TECHNICAL INSTRUMENTS OF PRUDENTIAL SUPERVISION
Section 1Own funds
Article 38Deductions 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.