(a)

paragraph 2 is replaced by the following: ‘2. Where the authority designated in accordance with paragraph 1 of this Article identifies changes in the intensity of macroprudential or systemic risk in the financial system with the potential to have serious negative consequences to the financial system and the real economy in a specific Member State and which that authority considers that cannot be addressed by means of other macroprudential tools set out in this Regulation and in Directive 2013/36/EU as effectively as by implementing stricter national measures, it shall notify the Commission and the ESRB accordingly. The ESRB shall forward the notification to the European Parliament, to the Council and to EBA without delay. The notification shall be accompanied by the following documents and include, where appropriate, relevant quantitative or qualitative evidence on: the changes in the intensity of macroprudential or systemic risk; the reasons why such changes could pose a threat to financial stability at national level or to the real economy; an explanation as to why the authority considers that the macroprudential tools set out in Articles 124 and 164 of this Regulation and Articles 133 and 136 of Directive 2013/36/EU would be less suitable and effective to deal with those risks than the draft national measures referred to in point (d) of this paragraph; the draft national measures for domestically authorised institutions, or a subset of those institutions, intended to mitigate the changes in the intensity of risk and concerning: the level of own funds laid down in Article 92; the requirements for large exposures laid down in Article 392 and Articles 395 to 403; liquidity requirements laid down in Part Six; risk weights for targeting asset bubbles in the residential property and commercial immovable property sector; the public disclosure requirements laid down in Part Eight; the level of the capital conservation buffer laid down in Article 129 of Directive 2013/36/EU; or intra-financial sector exposures; an explanation as to why the draft measures are considered by the authority designated in accordance with paragraph 1 to be suitable, effective and proportionate to address the situation; and an assessment of the likely positive or negative impact of the draft measures on the internal market based on information which is available to the Member State concerned.’;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.