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17.11.2009

EN

Official Journal of the European Union

L 302/105

2.

The total of the items referred to in Article 57(l)

16. Article 87 is amended as follows:

to (r) shall be deducted half from the total of the items referred to in points (a) to (ca) minus (i), (j) and (k) of that Article, and half from the total of the items referred to in points (d) to (h) of that Article, after application of the limits laid down in paragraph 1 of this Article. To the

(a) paragraph 11 is replaced by the following:

extent that half of the total of the items (l) to (r) of Article 57 exceeds the total of the items (d) to (h) of that Article, the excess shall be deducted from the total of the items (a) to (ca) minus (i), (j) and (k) of that Article. Items referred to in Article 57(r) shall not be deducted if they have been included in the calculation of risk-weighted exposure amounts for the purposes of Article 75 as referred to in Annex IX, Part 4.’;

(b) paragraph 4 is replaced by the following:

‘4.

The competent authorities may authorise credit

institutions to exceed the limits laid down in para­

graphs 1 and situations.’;

1a

temporarily

during

emergency

‘11.

Where exposures in the form of a collective

investment undertaking (CIU) meet the criteria set out in Annex VI, Part 1, points 77 and 78 and the credit insti­ tution is aware of all or parts of the underlying expo­ sures of the CIU, the credit institution shall look through to those underlying exposures in order to calculate risk- weighted exposure amounts and expected loss amounts in accordance with the methods set out in this Subsec­ tion. Paragraph 12 shall apply to the part of the under­ lying exposures of the CIU the credit institution is not aware of or could not reasonably be aware of. In particu­ lar, paragraph 12 shall apply where it would be unduly burdensome for the credit institution to look through the underlying exposures in order to calculate risk- weighted exposure amounts and expected loss amounts in accordance with methods set out in this Subsection.

  • 13.

    the subtitle of Title V, Chapter 2, Section 2, Subsection 2 ‘Cal­ culation of requirements’ is replaced by ‘Calculation and reporting requirements’;

  • 14.

    in Article 74(2) the following subparagraph is inserted after the first subparagraph:

‘For the communication of those calculations by credit insti­ tutions, competent authorities shall apply, from 31 Decem­ ber 2012, uniform formats, frequencies and dates of reporting. To facilitate this, the Committee of European Banking Supervisors shall elaborate guidelines to introduce, within the Community, a uniform reporting format before 1 January 2012. The reporting formats shall be proportion­ ate to the nature, scale and complexity of the credit institu­ tions’ activities.’;

15. Article 81(2) is replaced by the following:

‘2.

The competent authorities shall recognise an ECAI as

eligible for the purpose of Article 80 only if they are satisfied that its assessment methodology complies with the require­ ments of objectivity, independence, ongoing review and transparency, and that the resulting credit assessments meet the requirements of credibility and transparency. For those purposes, the competent authorities shall take into account the technical criteria set out in Annex VI, Part 2. Where an ECAI is registered as a credit rating agency in accordance with Regulation (EC) No 1060/2009 of 16 September 2009 of the European Parliament and of the Council on credit rat­ ing agencies (*), the competent authorities shall consider the requirements of objectivity, independence, ongoing review and transparency with respect to its assessment methodol­

ogy to be satisfied.

(*) OJ L 302, 17.11.2009, p. 1’;

Where the credit institution does not meet the condi­ tions for using the methods set out in this Subsection for all or parts of the underlying exposures of the CIU, risk weighted exposure amounts and expected loss amounts shall be calculated in accordance with the following approaches:

  • (a)

    for exposures belonging to the exposure class referred to in Article 86(1)(e), the approach set out in Annex VII, Part 1, points 19 to 21.

  • (b)

    for all other underlying exposures, the approach set out in Articles 78 to 83, subject to the following modifications:

  • (i)

    for exposures subject to a specific risk weight for unrated exposures or subject to the credit quality step yielding the highest risk weight for a given exposure class, the risk weight must be multiplied by a factor of two but must not be higher than 1 250 %;

  • (ii)

    for all other exposures, the risk weight must be multiplied by a factor of 1,1 and must be sub­ ject to a minimum of 5 %.

Where, for the purposes of point (a), the credit insti­ tution is unable to differentiate between private equity, exchange-traded and other equity exposures, it shall treat the exposures concerned as other equity exposures. Without prejudice to Article 154(6), where those exposures, taken together with the credit institution’s direct exposures in that exposure class, are not material within the meaning of

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