Definition of an institution for large exposures purposes

For the purposes of calculating the value of exposures in accordance with this Part the term ‧institution‧ shall include a private or public undertaking, including its branches, which, were it established in the Union, would fulfil the definition of the term ‧institution‧ and has been authorised in a third country that applies prudential supervisory and regulatory requirements at least equivalent to those applied in the Union.