in force 2020-06-27 MODIFIED+8 −15§
Amended by Regulation (EU) 2020/873 32020R0873
applies from: unchanged
Sources disagree — the text comparison found this change; the EU's own amendment metadata does not list it and the amending act's instructions do not mention it. All are shown; none is overruled.
The sentence on full and timely repayment in Article 47a(6) changed from stating that repayment shall not be considered likely unless the obligor has executed regular and timely payments of the specified amounts, to stating that repayment may be considered likely where the obligor has executed such payments.
Cited: Art. 47a, v1 · Art. 47a, v2
text before / after
02013R0575-20191225 → 02013R0575-20200627
Article 47a
Non-performing exposures
1. For the purposes of point (m) of Article 36(1), exposure shall include any of the following items, provided they are not included in the trading book of the institution:
(a) a debt instrument, including a debt security, a … 747 unchanged words … there is no past-due amount following the forbearance measures and the institution, on the basis of the analysis of the obligor's financial situation, is satisfied about the likelihood of the full and timely repayment of the exposure.
Full and timely repayment shall not may be considered likely unless where the obligor has executed regular and timely payments of amounts equal to either of the following:
(a) the amount that was past due before the forbearance measure was granted, where there were amounts past due;
(b) the amount that has been written-off under the forbearance measures granted, where there were no amounts past due.
7. Where a non-performing exposure has ceased to be classified as non-performing pursuant to paragraph 6, such exposure shall be under probation until all the following conditions are met:
(a) at least two years have passed since the date on which the exposure subject to forbearance measures was re-classified as performing;
(b) regular and timely payments have been made during at least half of the period that the exposure would be under probation, leading to the payment of a substantial aggregate amount of principal or interest;
(c) none of the exposures to the obligor is more than 30 days past due.