Recital 11 The Treaty on the Functioning of the European Union

Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU, 2014/65/EU, (EU) 2015/2366 and (EU) 2016/2341 have been adopted on the basis of Article 53(1) or Article 114 of the Treaty on the Functioning of the European Union (TFEU) or both. The amendments in this Directive have been included in a single legislative act due to the interconnectedness of the subject matter and objectives of the amendments. Consequently, this Directive should be adopted on the basis of both Article 53(1) and Article 114 TFEU.