67In view, in particular, of the importance of Common Equity Tier 1 capital for the financial soundness of institutions and, more generally, the stability of the financial sector, the existence of the risk identified by the ECB cannot be denied, and that risk is also confirmed by the EBA guidelines on payment commitments. It is clear from those guidelines (see paragraph 14 above) that the competent authorities, including the ECB, must assess, within the SREP, the risks to which the capital and liquidity positions of a credit institution which treats its IPCs as off-balance-sheet items would be exposed.
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