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CM-5.6.8

Under the terms of this module (see paragraph CM-5.6.2), such indirect exposures to a parent bank may be exempt from the limits on large exposures if the Agency is satisfied that:

(a) such exposures are entered into within the terms of a policy agreed by the parent bank, and
(b) there are guarantees in place from the parent bank to protect the subsidiary should the exposure become impaired or require to be written off.