in force 2025-01-01 MODIFIED+2,067 −294§
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: 2018-05-30, 2020-05-20, 2027-12-31, 2030-12-31 · dates removed: 2014-12-31
The heading and subject change from a review of long-term financing to a review of agricultural financing, and the single unnumbered paragraph is replaced by three numbered paragraphs.
The reporting task shifts from the Commission producing a report by 31 December 2014 on long-term financing needs, to EBA preparing a report by 31 December 2030 on the impact of the requirements on agricultural financing, covering a dedicated risk weight, prudential criteria, and alignment with the Farm to Fork strategy and related environmental indicators.
The new text also adds a step where the Commission submits a report to the European Parliament and Council based on EBA's findings, possibly with a legislative proposal, and requires EBA to prepare an intermediate report by 31 December 2027.
Cited: Art. 505, v1 · Art. 505, v2
text before / after
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before (02013R0575-20240709)
Article 505 Review of long-term financing By 31 December 2014, the Commission shall report to the European Parliament and to the Council, together with any appropriate proposals, about the appropriateness of the requirements of this Regulation in light of the need to ensure adequate levels of funding for all forms of long-term financing for the economy, including critical infrastructure projects in the Union in the field of transport, energy and communications.
after (02013R0575-20250101)
Article 505 Review of agricultural financing 1. By 31 December 2030, EBA shall prepare a report on the impact of the requirements of this Regulation on agricultural financing, including on: (a) the appropriateness of a dedicated risk weight for own funds requirements for credit risk calculated in accordance with Part Three, Title II, for exposures to an agricultural enterprise; (b) where applicable, prudentially justified criteria for the application of such a dedicated risk weight, including farming practices, as well as the inclusion of exposures in the corporates, retail or secured by mortgages on immovable property exposure classes; (c) the alignment with the farm to fork strategy set out in the communication of the Commission of 20 May 2020 entitled A Farm to Fork Strategy for a fair, healthy and environmentally-friendly food system and the respective environmental impact within the meaning of Regulation (EU) 2020/852, in particular with the indicators as collected in the Union’s Farm Accountancy Data Network, showing contribution scores with regard to: (i) net greenhouse gas emissions per hectare; (ii) pesticides and fertilisers usage per hectare; (iii) soil’s minerals efficiency ratios, including carbon, ammonia, phosphate and nitrogen per hectare; (iv) water use efficiency; (v) a confirmation of positive impact on the indicators referred to in points (i) to (iv) of this point with an organic production logo of the European Union referred to in Regulation (EU) 2018/848 of the European Parliament and of the CouncilRegulation (EU) 2018/848 of the European Parliament and of the Council of 30 May 2018 on organic production and labelling of organic products and repealing Council Regulation (EC) No 834/2007 (OJ L 150, 14.6.2018, p. 1).. 2. Taking into account the EBA report referred to in paragraph 1, the Commission shall submit the report to the European Parliament and to the Council. Where appropriate, that report shall be accompanied by a legislative proposal to amend this Regulation in order to mitigate its negative effects on agricultural financing. 3. EBA shall also prepare an intermediate report on the impact of the requirements of this Regulation on agricultural financing by 31 December 2027.