in force 2025-01-01 INSERTED+1,287 −0§
Amended by Regulation (EU) 2024/1623 32024R1623 · Regulation (EU) 2024/2987 32024R2987 · Regulation (EU) 2024/2795 32024R2795
applies from: unknown (an inserted provision states its own application date only in prose)
This new provision sets out a phased-in derogation from Article 111(2), under which the exposure value of unconditionally cancellable off-balance-sheet commitments is calculated by applying multiplying factors that rise from 0% between 2025 and 2029 to 25%, 50% and 75% in successive later periods through 2032.
It also requires EBA to prepare and submit to the European Parliament, Council and Commission by 31 December 2028 a report assessing whether the 0% derogation should be extended past 31 December 2032, with the Commission empowered to submit a legislative proposal by 31 December 2031 based on that report.
Cited: Art. 495d, v2
text before / after
inserted text (02013R0575-20250101)
Article 495d Transitional arrangements for unconditional cancellable commitments 1. By way of derogation from Article 111(2), institutions shall calculate the exposure value of an off-balance-sheet item in the form of unconditionally cancellable commitment by multiplying the percentage provided for in that Article by the following factors: (a) 0 % during the period from 1 January 2025 to 31 December 2029; (b) 25 % during the period from 1 January 2030 to 31 December 2030; (c) 50 % during the period from 1 January 2031 to 31 December 2031; (d) 75 % during the period from 1 January 2032 to 31 December 2032. 2. EBA shall prepare a report assessing whether the derogation referred to in paragraph 1, point (a), should be extended beyond 31 December 2032 and specifying, where necessary, the conditions under which that derogation should be maintained. EBA shall submit that report to the European Parliament, to the Council and to the Commission by 31 December 2028. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS and the impact of those standards on financial stability, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.