Regulation 119 Article 124 (exposures secured by mortgages on immovable property)
(1)
Article 124 (exposures secured by mortgages on immovable property) is amended as follows.
(2)
In paragraph 1, in the second sub-paragraph, for the words from “in those Member States” to “or regulatory provisions” substitute “, if rigorous criteria are in force at the time in the United Kingdom for the assessment of the mortgage lending value”.
(3)
In paragraph 2, in the final sub-paragraph—
(a)
omit the first sentence;
(b)
in the second sentence, for “EBA shall publish the risk weights and criteria that the competent authorities” substitute “The PRA and FCA shall each publish the risk weights and criteria that they”.
(4)
Omit paragraph 5.