Question
In Annex 1, C 05.02 'Grandfathered instruments: Instruments not constituting State Aid' there are some wrong references to the CRR articles, as follows: - row 020 and row 090 - instead of 'Article 489', it should be 'Article 486'; - row 050, row 060 and row 070 - instead of 'Article 49 of CRR', it should be 'Article 52 of CRR'. Limits for grandfathering of items within CET1, AT1 and T2 are in Article 486 of the CRR. Conditions for AT1 quialification are in Article 52 of the CRR.
Background on the question
references clarification
Answer
{C 05.02, r020} and {C 05.02, r090} of Annex I to Regulation (EU) No 680/2014 (ITS on Supervisory Reporting) refer to Articles 489 and 490 of Regulation (EU) No 575/2013 (CRR) as these articles state the limits applicable to instruments with an incentive to redeem, even if not all instruments included in these cells are instruments with an incentive to redeem. Therefore, there is no need to change the references for both rows. {C 05.02, r050}, {C 05.02, r060} and {C 05.02, r070} shall refer to Article 52 CRR instead of Article 49 CRR. Changes will be made accordingly.