Article 15
Notification procedure for the reversal to the accounting approach
1. Institutions shall notify competent authorities of their reversal to the accounting approach at least 90 days before such reversal.
2. The notification of the reversal to the accounting approach shall contain:
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(a) |
a confirmation that the reversal to the accounting approach has been approved by the management body or by an internal committee designated by that management body, and the date of that approval; |
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(b) |
the date as of which the accounting approach will be used; |
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(c) |
information on the conditions referred to in Article 9, point (b), that are no longer met; |
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(d) |
the analysis of the impact, at the last reporting date in comparison with the prudential boundary approach, of the reversal to the accounting approach on:
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(e) |
a report of the independent review of the institution’s independent risk control function, or of internal or external audit, on the points (c) and (d). |