Article 5
Temporary non-compliance with the requirements of the IRB Approach
For the purposes of the application of Article 146(a) of Regulation (EU) No 575/2013, the competent authority shall:
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(a) |
review whether the institution’s plan for a timely return to compliance is sufficient to remedy the non-compliance and whether the time schedule is reasonable taking into account all of the following:
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(b) |
monitor on a regular basis the progress in the realisation of the institution’s plan for a timely return to compliance; |
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(c) |
verify the institution’s compliance with the relevant requirements after the implementation of the plan, by applying the assessment methodologies laid down in this Regulation. |