Article 466

Capital Requirements Regulation (CRR) > PART TEN > TITLE I > CHAPTER 1 > Section 1 > Article 466
Article 466
First time application of International Financial Reporting Standards
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By way of derogation from Article 24(2), competent authorities shall grant institutions which are required to effect the valuation of assets and off-balance sheet items and the determination of own funds in accordance with the international accounting standards as applicable under Regulation (EC) No 1606/2002 for the first time a lead time of 24 months for the implementation of the necessary internal processes and technical requirements.