
Article 1 
Regulation (EU) No 575/2013 is amended as follows:

((1)) in Article 493(1), the second sentence is replaced by the following:
'This exemption is available until 31 December 2020 or the date of entry into force of any amendments pursuant to paragraph 2 of this Article, whichever is the earlier.';
((2)) in Article 498(1), the second subparagraph is replaced by the following:
'This exemption shall apply until 31 December 2020 or the date of entry into force of any amendments pursuant to paragraphs 2 and 3, whichever is the earlier.'.
Article 2 
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.Done at Strasbourg, 8 June 2016.
For the European Parliament
The President
M. SCHULZ
For the Council
The President
A.G. KOENDERS