in force 2025-06-29 MODIFIED+414 −151§
Amended by Regulation (EU) 2025/1215 32025R1215
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: 2029-01-31
Paragraph 6 changes the EBA's single 28 June 2023 report into a recurring obligation, requiring it to report to the Commission by 31 January 2029 and every five years thereafter on the appropriateness of the stable funding requirement for securities financing transactions and related unsecured transactions with financial customers.
Point (d) of paragraph 6 renumbers its internal cross-references to Articles 428k(3), 428r(1), 428s(1) and 428v using a different citation style but points to the same provisions as before.
Point (e) of paragraph 6 is expanded from a single assessment of market liquidity impact into two sub-points, adding an assessment of the impact on the price structure of the transactions alongside the pre-existing assessment of market liquidity of collateral assets.
Cited: Art. 510, v2 · Art. 510, v1
text before / after
02013R0575-20250101 → 02013R0575-20250629
Article 510
Net Stable Funding Requirements
1. By 31 December 2015, EBA shall report to the Commission, on the basis of the items to be reported in accordance with Part Six, Title III, on whether and how it would be appropriate to … 600 unchanged words … funding risk linked to those transactions.
6. EBA shall monitor the amount of stable funding required to cover the funding risk linked to securities financing transactions, including to the assets received or given in those transactions, and to unsecured transactions with financial customers, where such transactions have a residual maturity of less than six months with financial customers and months. EBA shall report to the Commission by 31 January 2029, and every five years thereafter, on the appropriateness of that stable funding requirement. Taking into account international developments and the regulatory treatment by 28 June 2023. That report of similar transactions in other jurisdictions, those reports shall assess at least assess: a minimum:
(a) the opportunity to apply higher or lower stable funding factors to securities financing transactions with financial customers and to unsecured transactions with a residual maturity of less than six months with financial customers to take better account of their funding risk over the one-year horizon of the net stable funding ratio and of the possible contagion effects between financial customers;
(b) the opportunity to apply the treatment set out in point (g) of Article 428r(1) to securities financing transactions collateralised by other types of assets;
(c) the opportunity to apply stable funding factors to off-balance-sheet items used in securities financing transactions as an alternative to the treatment set out in Article 428p(5);
(d) the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c) of Article 428k(3) (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with point (g) of Article 428r(1), point (c) of (g), Article 428s(1) 428s(1), point (b), and Article 428v, point (b) of Article 428v; (a);
(e) the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months months, with financial customers, on on:
(i) the price structure of those transactions; and
(ii) the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;
(f) the impact of the proposed changes on the amount of stable funding required for those institutions' transactions, in particular for securities financing … 533 unchanged words … platinum and palladium or assets used for providing financing transactions of precious metals such as gold, silver, platinum and palladium of a term of 180 days or less. EBA shall submit its report to the Commission by 28 June 2021.