Art. 382

in force 2026-06-26 MODIFIED±0§

Amended by Regulation (EU) 2019/2033 32019R2033

applies from: unknown

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in force 2025-01-01 MODIFIED§

Amended by Regulation (EU) 2024/1623 32024R1623 · Regulation (EU) 2024/2987 32024R2987 · Regulation (EU) 2024/2795 32024R2795

applies from: unchanged

Paragraph 2 now specifies that the securities financing transactions to be included are those fair-valued under the institution's applicable accounting framework, replacing the earlier wording that referred to a competent authority determination of materiality without that accounting qualifier.

Point (a) of paragraph 4 is unchanged, but the former single intragroup-transactions exclusion in point (b) is split, with a new point (aa) added for intragroup transactions with non-financial counterparties meeting listed consolidation, risk-control and establishment conditions, while point (b) is narrowed to intragroup transactions with financial counterparties, financial institutions or ancillary services undertakings meeting equivalence conditions.

New paragraphs 4a, 4b and 4c are added, covering an institution's option to calculate CVA own funds requirements for excluded transactions where eligible hedges are used, a reporting obligation to competent authorities on calculations for transactions excluded under paragraph 4, and a Commission power to adopt implementing acts on third-country equivalence for the purposes of points (aa) and (b) of paragraph 4.

Cited: Art. 382, v1 · Art. 382, v2

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in force 2024-07-09 MODIFIED§

Amended by Regulation (EU) 2024/1623 32024R1623

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2026-07-10

A new paragraph 6 has been added requiring EBA to develop draft regulatory technical standards specifying the conditions and criteria institutions are to use in assessing whether CVA risk exposures from fair-valued securities financing transactions are material, and how often that assessment is to occur.

This new paragraph also sets a submission deadline for those draft standards to the Commission and delegates power to the Commission to adopt them under Articles 10 to 14 of Regulation (EU) No 1093/2010, none of which appeared in the earlier version.

EBA shall submit those draft regulatory technical standards to the Commission by 10 July 2026.

Cited: Art. 382, v2 · Art. 382, v1

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in force 2021-06-28 MODIFIED§

Amended by Regulation (EU) 2019/2033 32019R2033 · Regulation (EU) 2019/876 32019R0876 · Regulation (EU) 2021/558 32021R0558 · Regulation (EU) 2020/873 32020R0873

applies from: unchanged

In point (b) of paragraph 4, the phrase referring to Member States adopting national laws requiring structural separation was changed to refer to national law, and the reference to structurally separated institutions was changed to structurally separated entities.

Cited: Art. 382, v1 · Art. 382, v2

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in force 2019-12-25 MODIFIED§

Amended by Regulation (EU) 2019/2033 32019R2033

applies from: unknown

Sources disagree — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.

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detected 2026-08-13 MODIFIED§

no amending act named

applies from: unchanged

Point (d) of paragraph 4 now refers to Article 1(4) and (5) of Regulation (EU) No 648/2012 generally, and to Article 114(4) and Article 115(2) of this Regulation, in place of the earlier reference to Article 1(4)(a) and (b) and Article 1(5)(a), (b) and (c) of that Regulation and Article 115 of this Regulation.

A new sentence was added at the end of paragraph 4 stating that, in regard to point (a), where an institution ceases to be exempt through crossing the exemption threshold or due to a change in the exemption threshold, outstanding contracts remain exempt until the date of their maturity.

The wording in paragraph 4 and paragraph 5 was also adjusted to refer to the "CVA risk charge" instead of the "CVA charge" or "CVA charges" in a few places.

Cited: Art. 382, v1 · Art. 382, v2

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