Article 45 Transitional provision

With regard to the assessment of the AMA, referred to in Article 1, of an institution which, on the date of entry into force of this Regulation, is already using an AMA for the purpose of calculating its own funds requirements for operational risk, or of an institution which has already applied for a permission to use an AMA for that purpose, both of the following shall apply:

1. (a)

   this Regulation shall apply from one year after its entry into force;

2. (b)

   Article 34(g) shall apply from two years after its entry into force.