detected 2026-08-13 MODIFIED+6 −0§
no amending act named
applies from: unchanged
The introductory clause of paragraph 1 was reworded slightly, changing "provided all the following conditions" to "provided that all the following conditions", with no change to the listed conditions themselves.
In paragraph 2, points (a) and (b) were reworded to insert the article "a" before "central bank" and before "local authority" respectively, with no other substantive change to those points.
Cited: Art. 214, v1 · Art. 214, v2
text before / after
32013R0575 → 02013R0575-20130628
Article 214 Sovereign and other public sector counter-guarantees 1. Institutions may treat the exposures referred to in paragraph 2 as protected by a guarantee provided by the entities listed in that paragraph, provided that all the following conditions are satisfied: (a) the counter-guarantee covers all credit risk elements of the claim; (b) both the original guarantee and the counter-guarantee meet the requirements for guarantees set out in Articles 213 and 215(1), except that the counter-guarantee need not be direct; (c) the cover is robust and nothing in the historical evidence suggests that the coverage of the counter-guarantee is less than effectively equivalent to that of a direct guarantee by the entity in question. 2. The treatment set out in paragraph 1 shall apply to exposures protected by a guarantee which is counter-guaranteed by any of the following entities: (a) a central government or a central bank; (b) a regional government or a local authority; (c) a public sector entity, claims on which are treated as claims on the central government in accordance with Article 116(4); (d) a multilateral development bank or an international organisation, to which a 0 % risk weight is assigned under or by virtue of Articles 117(2) and 118 respectively; (e) a public sector entity, claims on which are treated in accordance with Article 116(1) and (2). 3. Institutions shall apply the treatment set out in paragraph 1 also to an exposure which is not counter-guaranteed by any entity listed in paragraph 2 where that exposure's counter-guarantee is in turn directly guaranteed by one of those entities and the conditions listed in paragraph 1 are satisfied.