TITLE IVFINAL PROVISIONS
Article 38Transitional provision for the introduction of the liquidity coverage ratio
1.
In accordance with Article 460(2) of Regulation (EU) No 575/2013, the liquidity coverage ratio laid down in Article 4 shall be introduced as follows:
(a)
60 % of the liquidity coverage requirement as from 1 October 2015;
(b)
70 % as from1 January 2016;
(c)
80 % as from 1 January 2017;
(d)
100 % as from 1 January 2018.
2.
In accordance with Article 412(5) of Regulation (EU) No 575/2013, Member States or competent authorities may require domestically authorised credit institutions or a subset of such credit institutions to maintain a higher liquidity coverage requirement up to 100 % until the binding minimum standard is fully introduced at a rate of 100 % in accordance with this Regulation.