in force 2019-04-26 INSERTED+725 −0§
Amended by Regulation (EU) 2019/630 32019R0630
applies from: unknown (an inserted provision states its own application date only in prose)
A new Article 469a is inserted, setting out that institutions shall not deduct from Common Equity Tier 1 items the applicable amount of insufficient coverage for non-performing exposures where the exposure originated before 26 April 2019, as a derogation from the deduction rule in point (m) of Article 36(1).
The new article also states that if an institution modifies the terms of such a pre-26 April 2019 exposure in a way that increases its exposure to the obligor, that exposure is treated as originated on the date the modification applies and no longer benefits from this derogation.
Cited: Art. 469a, v2
text before / after
inserted text (02013R0575-20190426)
Article 469a Derogation from deductions from Common Equity Tier 1 items for non-performing exposures By way of derogation from point (m) Article 36(1), institutions shall not deduct from Common Equity Tier 1 items the applicable amount of insufficient coverage for non-performing exposures where the exposure was originated prior to 26 April 2019. Where the terms and conditions of an exposure which was originated prior to 26 April 2019 are modified by the institution in a way that increases the institution's exposure to the obligor, the exposure shall be considered as having been originated on the date when the modification applies and shall cease to be subject to the derogation provided for in the first subparagraph.