Art. 4

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

dates added to the text: 2002-07-19, 2006-12-20, 2020-06-18, 2021-03-15 · dates removed: 1978-07-25

The definitions of parent undertaking and subsidiary are rewritten to be shorter, defining them by reference to the new definition of control rather than by reference to Directive 83/349/EEC, and the definition of control itself is changed to refer to Article 22 of Directive 2013/34/EU instead of Article 1 of Directive 83/349/EEC.

The definitions of financial holding company and financial institution are substantially rewritten with new multi-part conditions and indicators, new definitions of investment holding company and pure industrial holding company are added, and the definition of participation is changed to refer to Directive 2013/34/EU instead of the 1978 Fourth Council Directive.

Several new and expanded definitions are added or altered, including operational risk, legal risk, model risk, ICT risk, ESG-related risks, gold bullion, property value, residential property, commercial immovable property, IPRE and non-IPRE exposures, ADC and non-ADC exposures, and revised definitions of probability of default, loss given default, conversion factor, funded and unfunded credit protection, cash assimilated instrument, and one-year default rate, and the credit institution definition in point (b) and its sub-points (i) to (iii) is reworded to refer to undertakings established in the Union including their third-country branches and subsidiaries and to add an exclusion for certain investment firms.

Cited: Art. 4, v1 · Art. 4, 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: 2026-01-10

The definition of "ancillary services undertaking" in point (18) changed from a general description of an undertaking whose principal activity is owning or managing property, managing data-processing services, or a similar ancillary activity, to a structured definition listing a direct extension of banking, operational leasing or ownership/management of property or provision of data-processing services, and any other activity EBA considers similar, and it now also specifies that the activity may be provided to undertakings inside or outside the group.

The point is now split into three lettered sub-points (a), (b) and (c) where previously it was a single unbroken sentence.

The remainder of Article 4, including Article 4(5), is shown only up to a truncation point in both texts, so no further difference beyond what is quoted above can be described.

Cited: Art. 4, v1 · Art. 4, v2

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in force 2023-06-28 MODIFIED§

Amended by Regulation (EU) 2019/876 32019R0876

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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in force 2022-11-14 MODIFIED§

Amended by Regulation (EU) 2022/2036 32022R2036

applies from: unchanged

A new definition, point (130a), has been inserted between the existing definitions of 'resolution authority' and 'resolution entity', defining 'relevant third-country authority' by reference to point (90) of Article 2(1) of Directive 2014/59/EU.

This entry does not appear at all in the earlier version of the list of definitions.

Cited: Art. 4, v2 · Art. 4, 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

The definition of "credit institution" is expanded from a single clause about taking deposits and granting credits to a two-part definition that also covers undertakings dealing on own account or underwriting under points (3) and (6) of Section A of Annex I to Directive 2014/65/EU, subject to asset-size thresholds and group-level tests expressed in euro amounts and referencing the consolidating supervisor and supervisory college.

The definitions of "investment firm" and "institution" are reworded, with "investment firm" now referring to Directive 2014/65/EU instead of Directive 2004/39/EC and dropping the prior list of excluded categories, and "institution" now referring to a credit institution authorised under Article 8 of Directive 2013/36/EU or an undertaking under Article 8a(3) of that Directive rather than simply combining the credit institution and investment firm definitions.

Several later points are also altered, including the addition of investment firms and investment holding companies to the "financial institution" definition, changes to the "parent investment firm"/"EU parent investment firm" wording, removal of the investment-firm cross-reference in "initial capital", extension of "cash assimilated instrument" to investment firms, and a cross-reference update in "recognised exchange" to Directive 2014/65/EU.

Cited: Art. 4, v1 · Art. 4, v2

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in force 2020-12-28 MODIFIED§

Amended by Regulation (EU) 2019/876 32019R0876

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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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.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

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in force 2019-06-27 MODIFIED§

Amended by Regulation (EU) 2019/876 32019R0876

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: 2004-12-15, 2013-06-26, 2014-05-15, 2015-11-25, 2020-06-28 · dates removed: 2007-11-13

Several existing definitions were reworded, including the tests for a financial holding company's subsidiaries, the scope of parent institution in a Member State, financial institution's exclusions and payment institution reference, recognised exchange's inclusion of certain third-country markets, trading book, internal hedge, trade exposure, and cross-guarantee scheme, distributable items and consolidating supervisor.

New defined terms were added after the existing list, such as parent investment firm and parent credit institution variants, and after point 129 a long series of new points including resolution authority, resolution entity, resolution group, G-SII and non-EU G-SII, material subsidiary, G-SII entity, bail-in tool, group, securities financing transaction and initial margin, together with a new exclusion for persons linked only through direct exposure to the same CCP in the group of connected clients definition.

The text provided is truncated partway through the added definitions, so further differences beyond that point cannot be described.

Cited: Art. 4, v1 · Art. 4, v2

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in force 2019-01-01 MODIFIED§

Amended by Regulation (EU) 2017/2401 32017R2401 · Regulation (EU) 2019/876 32019R0876

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: 2017-12-12

The definitions of originator and sponsor, previously self-contained, now point to the corresponding definitions in point (3) and point (5) of Article 2 of Regulation (EU) 2017/2402, and a new definition of original lender referencing point (20) of the same Article 2 has been inserted as point (14a).

The definitions of securitisation, securitisation position, re-securitisation, securitisation special purpose entity or SSPE, and tranche were replaced with cross-references to points (1), (19), (4), (2) and (6) respectively of Article 2 of Regulation (EU) 2017/2402, whereas the earlier version set out each of these definitions directly in its own words including sub-points (a) and (b) under originator and securitisation.

A new point (129) defining servicer by reference to point (13) of Article 2 of Regulation (EU) 2017/2402 was added at the end of the list of definitions in paragraph 1.

Cited: Art. 4, v2 · Art. 4, v1

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detected 2026-08-13 MODIFIED§

no amending act named

applies from: unchanged

The definition of eligible capital in point (71) is restructured into two separate sums, one applying for the purposes of Title III of Part Two (with Tier 1 capital calculated without applying the deduction in Article 36(1)(k)(i)), and another applying for the purposes of Article 97 and Part Four, replacing the single combined sum of Tier 1 and Tier 2 capital used before.

Several other points receive smaller wording adjustments, including point (19) on asset management companies, point (26) and point (27)(h) on insurance and mixed-activity holding companies with an added cross-reference to point (f) of Article 212(1) of Directive 2009/138/EC, point (82) on repurchase and reverse repurchase agreements which is reworded into a single continuous sentence, point (88) which adds the abbreviation QCCP, and point (91) which adds a reference to variation margin due to the client.

Paragraphs 2 and 3 and points (39), (76) and (128) contain only minor rewording, such as referring to immovable property instead of real estate, replacing 'without being under compulsion' with 'without compulsion', replacing 'credit-worthiness' with 'creditworthiness', and replacing 'last financial year' with 'latest financial year', without altering the substance described.

Cited: Art. 4, v1 · Art. 4, v2

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