in force 2024-01-09
02013R0575-20230628 → 02013R0575-20240109
Amended by Regulation (EU) 2022/2036 32022R2036 · Regulation (EU) 2023/2869 32023R2869
Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022 amending Regulation (EU) No 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of-entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities (Text with EEA relevance)
Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023 amending certain Regulations as regards the establishment and functioning of the European single access point (Text with EEA relevance)
in force 2024-01-01, 2024-01-09 · detected 2026-08-13
6 provisions touched — 6 substantive, 0 date-only, 0 disputed · every change carries an explanation that passed its citation check
MODIFIED +87 −0 Art. 49 Requirement for deduction where consolidation, supplementary supervision or institutional protection schemes are applied§
applies from: unchanged
Paragraph 2 now adds a new sentence stating that the paragraph does not apply with regard to the deductions set out in Article 72e(5).
The prior version of paragraph 2 contained only the earlier exclusion referring to Articles 92a, 92b and the deduction framework in Article 72e(4), without any reference to Article 72e(5).
Cited: Art. 49, v2 · Art. 49, v1
text before / after
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Article 49 Requirement for deduction where consolidation, supplementary supervision or institutional protection schemes are applied 1. For the purposes of calculating own funds on an individual basis, a sub-consolidated basis and a consolidated basis, where the competent authorities require or permit institutions … 377 unchanged words … of the internal market. This paragraph shall not apply when calculating own funds for the purposes of the requirements laid down in Articles 92a and 92b, which shall be calculated in accordance with the deduction framework set out in Article 72e(4). This paragraph shall not apply with regard to the deductions set out in Article 72e(5). 3. Competent authorities may, for the purposes of calculating own funds on an individual or sub-consolidated basis permit institutions not to deduct holdings of own funds instruments in the following cases: (a) where an institution has a holding in another institution … 534 unchanged words … delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010 respectively.
MODIFIED +2,512 −0 Art. 72e Deductions from eligible liabilities items§
applies from: unchanged
The after text adds a new paragraph 5 requiring institutions and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU to deduct from eligible liabilities items their holdings of own funds instruments and eligible liabilities instruments when specified conditions concerning subsidiary and resolution-entity status are met.
This new paragraph also sets out a derogation from that deduction requirement where the holding entity complies with the relevant requirement on a consolidated basis and the issuing entity is included in that consolidation, and it clarifies how the terms eligible liabilities items and own funds instruments and eligible liabilities instruments are to be understood for purposes of the paragraph.
Paragraphs 1 through 4 remain unchanged between the two versions.
Cited: Art. 72e, v2 · Art. 72e, v1
text before / after
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Article 72e Deductions from eligible liabilities items 1. Institutions that are subject to Article 92a shall deduct the following from eligible liabilities items: (a) direct, indirect and synthetic holdings by the institution of own eligible liabilities instruments, including own liabilities that that institution … 740 unchanged words … the adjusted amount in accordance with the first subparagraph, the difference between the amount of holdings of own funds instruments and eligible liabilities instruments referred to in the first subparagraph and that adjusted amount shall be deducted by the subsidiary.5. Institutions and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU shall deduct from eligible liabilities items their holdings of own funds instruments and eligible liabilities instruments where all of the following conditions are met: (a) the own funds instruments and eligible liabilities instruments are held by an institution or entity that is not itself a resolution entity but that is a subsidiary of a resolution entity or of a third-country entity that would be a resolution entity if it were established in the Union; (b) the institution or entity referred to in point (a) is required to comply with the requirements laid down in Article 92b of this Regulation or in Article 45f of Directive 2014/59/EU; (c) the own funds instruments and eligible liabilities instruments held by the institution or entity referred to in point (a) were issued by an institution or entity referred to in Article 92b(1) of this Regulation or in Article 45f(1) of Directive 2014/59/EU that is not itself a resolution entity and that belongs to the same resolution group as the institution or entity referred to in point (a). By way of derogation from the first subparagraph, holdings of own funds instruments and eligible liabilities instruments shall not be deducted where the institution or entity referred to in point (a) of the first subparagraph is required to comply with the requirement referred to in point (b) of the first subparagraph on a consolidated basis and the institution or entity referred to in point (c) of the first subparagraph is included in the consolidation of the institution or entity referred to in point (a) of the first subparagraph in accordance with Part One, Title II, Chapter 2. For the purposes of this paragraph, the reference to eligible liabilities items shall be understood as a reference to any of the following: (a) eligible liabilities items taken into account for the purposes of complying with the requirement laid down in Article 92b; (b) liabilities that meet the conditions set out in Article 45f(2), point (a), of Directive 2014/59/EU. For the purposes of this paragraph, the reference to own funds instruments and eligible liabilities instruments shall be understood as a reference to any of the following: (a) own funds instruments and eligible liabilities instruments that meet the conditions set out in Article 92b(2) and (3); (b) own funds and liabilities that meet the conditions set out in Article 45f(2) of Directive 2014/59/EU.
MODIFIED +103 −6 Art. 113 Calculation of risk-weighted exposure amounts§
applies from: unchanged
Paragraph 1 now excludes from the risk-weighting requirement not only exposures deducted from own funds but also exposures subject to the treatment set out in Article 72e(5), first subparagraph.
The rest of the article, including paragraphs 2 through 7, remains textually unchanged between the two versions.
Cited: Art. 113, v2 · Art. 113, v1
text before / after
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Article 113
Calculation of risk-weighted exposure amounts
1. To calculate risk-weighted exposure amounts, risk weights shall be applied to all exposures, unless those exposures are deducted from own funds, funds or are subject to the treatment set out in Article 72e(5), first subparagraph, in accordance with the provisions of Section 2. The application of risk weights shall be based on the exposure class to which the exposure is assigned and, to the extent specified in Section 2, its credit quality. Credit quality may … 681 unchanged words … (c) and (d) is approved and monitored at regular intervals by the relevant competent authorities.
Where the institution, in accordance with this paragraph, decides not to apply the requirements of paragraph 1, it may assign a risk weight of 0 %.
MODIFIED +130 −136 Art. 151 Treatment by exposure class§
applies from: unchanged
Paragraph 1 now excludes from the Sub-section 2 calculation not only exposures deducted from own funds but also those subject to the treatment set out in the first subparagraph of Article 72e(5), whereas the earlier text referred only to deduction from own funds and separately excepted exposures deducted from Common Equity Tier 1, Additional Tier 1 or Tier 2 items.
The cross-reference to the exposure classes was also reformatted from citing points (a) to (e) and (g) of Article 147(2) collectively to citing Article 147(2), points (a) to (e) and point (g), separately.
Cited: Art. 151, v1 · Art. 151, v2
text before / after
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Article 151
Treatment by exposure class
1. The risk-weighted exposure amounts for credit risk for exposures belonging to one of the exposure classes referred to in Article 147(2), points (a) to (e) and (g) of 147(2) point (g), shall, unless those exposures are deducted from own funds, funds or are subject to the treatment set out in Article 72e(5), first subparagraph, be calculated in accordance with Sub-section 2 except where those exposures are deducted from Common Equity Tier 1 items, Additional Tier 1 items or Tier 2 items. 2.
2. The risk-weighted exposure amounts for dilution risk for purchased receivables shall be calculated in accordance with Article 157. Where an institution has full recourse to the seller of purchased receivables for default risk and for dilution risk, the provisions … 356 unchanged words … factors in accordance with Article 143 and Section 6.
10. The risk-weighted exposure amounts for securitised exposures and for exposures belonging to the exposure class referred to in point (f) of Article 147(2) shall be calculated in accordance with Chapter 5.
MODIFIED +105 −6 Art. 429a Exposures excluded from the total exposure measure§
applies from: unchanged
The point (p) list item now ends with a semicolon instead of a full stop, reflecting that an additional item follows it.
A new point (q) has been added to the list of exposures that an institution may exclude from its total exposure measure, covering exposures subject to the treatment set out in the first subparagraph of Article 72e(5).
Cited: Art. 429a, v2
text before / after
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Article 429a
Exposures excluded from the total exposure measure
1. By way of derogation from Article 429(4), an institution may exclude any of the following exposures from its total exposure measure:
(a) the amounts deducted from Common Equity Tier 1 items in accordance … 613 unchanged words … Section C of the Annex to that Regulation which are directly related to the core or ancillary services of a central securities depository, authorised in accordance with Article 16 of that Regulation, listed in Sections A and B of that Annex. Annex;
(q) the exposures that are subject to the treatment set out in Article 72e(5), first subparagraph.
For the purposes of point (m) of the first subparagraph, institutions shall include any retained exposure in the total exposure measure.
2. For the purposes of points (d) and (e) of paragraph 1, public development credit institution means a credit institution … 720 unchanged words … its central bank, calculated over the full reserve maintenance period of the central bank immediately preceding the date referred to in point (c) of paragraph 5, that are eligible to be excluded in accordance with point (n) of paragraph 1.
INSERTED +3,013 −0 Art. 434b Accessibility of information on the European single access point§
applies from: unknown (an inserted provision states its own application date only in prose)
This is a newly inserted article requiring institutions to submit information disclosed under Part Eight of the Regulation to a designated collection body so it can be made accessible on the European single access point (ESAP), along with specified metadata and format requirements.
It also designates EBA as the collection body, tasks EBA with developing implementing technical standards on metadata, data structuring and machine-readable formats, and allows EBA to adopt guidelines to ensure correctness of submitted metadata.
Cited: Art. 434b, v2
text before / after
inserted text (02013R0575-20240109)
Article 434b Accessibility of information on the European single access point 1. From 10 January 2030, when making public any information referred to in Part Eight of this Regulation, the institutions shall submit that information at the same time to the relevant collection body referred to in paragraph 3 of this Article for the purpose of making it accessible on the European single access point (ESAP) established under Regulation (EU) 2023/2859 of the European Parliament and of the CouncilRegulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability (OJ L, 2023/2859, 20.12.2023, ELI: http://data.europa.eu/eli/reg/2023/2859/oj).. That information shall comply with the following requirements: (a) be submitted in a data extractable format as defined in Article 2, point (3), of Regulation (EU) 2023/2859 or, where required by Union law, in a machine-readable format, as defined in Article 2, point (4), of that Regulation; (b) be accompanied by the following metadata: (i) all the names of the institution to which the information relates; (ii) the legal entity identifier of the institution, as specified pursuant to Article 7(4), point (b), of Regulation (EU) 2023/2859; (iii) the size of the institution by category, as specified pursuant to Article 7(4), point (d), of that Regulation; (iv) the type of information, as classified pursuant to Article 7(4), point (c), of that Regulation; (v) an indication of whether the information contains personal data. 2. For the purposes of paragraph 1, point (b)(ii), institutions shall obtain a legal entity identifier. 3. For the purpose of making the information referred to in paragraph 1 of this Article accessible on ESAP, the collection body as defined in Article 2, point (2), of Regulation (EU) 2023/2859 shall be EBA. 4. For the purpose of ensuring the efficient collection and management of information submitted in accordance with paragraph 1, EBA shall develop draft implementing technical standards to specify: (a) any other metadata to accompany the information; (b) the structuring of data in the information; (c) for which information a machine-readable format is required and, in such cases, which machine-readable format is to be used. For the purposes of point (c), EBA shall assess the advantages and disadvantages of different machine-readable formats and conduct appropriate field tests. EBA shall submit those draft implementing technical standards to the Commission. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010. 5. Where necessary, EBA shall adopt guidelines to ensure that the metadata submitted in accordance with paragraph 4, first subparagraph, point (a), are correct.
The full entry, with the citation mapping v1 = 02013R0575-20230628, v2 = 02013R0575-20240109, is committed at eu/32013R0575/CHANGELOG.md.