What changes on 25/12/2019

The text in force from 27/06/2019 compared with the text from 25/12/2019, which includes the changes made by IFR Regulation.

Read the act as of 25/12/2019 · other versions: 28/06/2023 · 09/01/2024 · 09/07/2024 · 01/01/2025 · 29/06/2025 · 01/01/2026 · 26/06/2026 · 01/01/2027

Part I › Title I

• amended Article 4 - Definitions

Part I › Title II › Chapter 2 › Section 1

• amended Article 15 - Derogation from the application of own funds requirements on a consolidated basis for groups of investment firms

Part II › Title I › Chapter 2 › Section 1

• amended Article 27 - Capital instruments of mutuals, cooperative societies, savings institutions or similar institutions in Common Equity Tier 1 items
• amended Article 28 - Common Equity Tier 1 instruments

Part II › Title I › Chapter 2 › Section 3 › Subsection 1

• amended Article 36 - Deductions from Common Equity Tier 1 items
• amended Article 42 - Deduction of holdings of own Common Equity Tier 1 instruments
• amended Article 45 - Deduction of holdings of Common Equity Tier 1 instruments of financial sector entities
• amended Article 46 - Deduction of holdings of Common Equity Tier 1 instruments where an institution does not have a significant investment in a financial sector entity
• amended Article 47c - Deduction for non-performing exposures

Part II › Title I › Chapter 2 › Section 3 › Subsection 2

• amended Article 48 - Threshold exemptions from deduction from Common Equity Tier 1 items
• amended Article 49 - Requirement for deduction where consolidation, supplementary supervision or institutional protection schemes are applied

Part II › Title I › Chapter 3 › Section 1

• amended Article 52 - Additional Tier 1 instruments
• amended Article 54 - Write down or conversion of Additional Tier 1 instruments

Part II › Title I › Chapter 3 › Section 2

• amended Article 57 - Deductions of holdings of own Additional Tier 1 instruments
• amended Article 59 - Deduction of holdings of Additional Tier 1 instruments of financial sector entities
• amended Article 60 - Deduction of holdings of Additional Tier 1 instruments where an institution does not have a significant investment in a financial sector entity

Part II › Title I › Chapter 4 › Section 1

• amended Article 63 - Tier 2 instruments

Part II › Title I › Chapter 4 › Section 2

• amended Article 67 - Deductions of holdings of own Tier 2 instruments
• amended Article 69 - Deduction of holdings of Tier 2 instruments of financial sector entities
• amended Article 70 - Deduction of Tier 2 instruments where an institution does not have a significant investment in a relevant entity

Part II › Title I › Chapter 5A › Section 1

• amended Article 72a - Eligible liabilities items
• amended Article 72b - Eligible liabilities instruments

Part II › Title I › Chapter 5A › Section 2

• amended Article 72e - Deductions from eligible liabilities items
• amended Article 72f - Deduction of holdings of own eligible liabilities instruments
• amended Article 72h - Deduction of holdings of eligible liabilities of other G-SII entities
• amended Article 72i - Deduction of eligible liabilities where the institution does not have a significant investment in G-SII entities

Part II › Title I › Chapter 6

• amended Article 78 - Supervisory permission to reduce own funds

Part II › Title II

• amended Article 81 - Minority interests that qualify for inclusion in consolidated Common Equity Tier 1 capital
• amended Article 82 - Qualifying Additional Tier 1, Tier 1, Tier 2 capital and qualifying own funds
• amended Article 84 - Minority interests included in consolidated Common Equity Tier 1 capital
• amended Article 85 - Qualifying Tier 1 instruments included in consolidated Tier 1 capital
• amended Article 87 - Qualifying own funds included in consolidated own funds

Part II › Title III

• amended Article 89 - Risk weighting and prohibition of qualifying holdings outside the financial sector

Part III › Title I › Chapter 1 › Section 1

• amended Article 92 - Own funds requirements

Part III › Title I › Chapter 1 › Section 2

• amended Article 96 - Own funds requirements for investment firms which hold initial capital as laid down in Article 28(2) of Directive 2013/36/EU

Part III › Title I › Chapter 3

• amended Article 103 - Management of the trading book
• amended Article 104 - Inclusion in the trading book

Part III › Title II › Chapter 2 › Section 2

• amended Article 129 - Exposures in the form of covered bonds
• amended Article 132 - Exposures in the form of units or shares in CIUs

Part III › Title II › Chapter 3 › Section 1

• amended Article 142 - Definitions
• amended Article 147 - Methodology to assign exposures to exposure classes
• amended Article 150 - Conditions for permanent partial use

Part III › Title II › Chapter 3 › Section 2 › Subsection 1

• amended Article 152 - Treatment of exposures in the form of units or shares in CIUs

Part III › Title II › Chapter 3 › Section 2 › Subsection 2

• amended Article 153 - Risk-weighted exposure amounts for exposures to corporates, institutions and central governments and central banks
• amended Article 154 - Risk-weighted exposure amounts for retail exposures
• amended Article 156 - Risk-weighted exposure amounts for other non credit-obligation assets

Part III › Title II › Chapter 3 › Section 4 › Subsection 1

• amended Article 162 - Maturity

Part III › Title II › Chapter 3 › Section 6 › Subsection 1

• amended Article 172 - Assignment of exposures

Part III › Title II › Chapter 3 › Section 6 › Subsection 2

• amended Article 180 - Requirements specific to PD estimation

Part III › Title II › Chapter 4 › Section 2 › Subsection 1

• amended Article 198 - Additional eligibility of collateral under the Financial Collateral Comprehensive Method

Part III › Title II › Chapter 4 › Section 2 › Subsection 2

• amended Article 201 - Eligibility of protection providers under all approaches

Part III › Title II › Chapter 4 › Section 3 › Subsection 1

• amended Article 207 - Requirements for financial collateral
• amended Article 210 - Requirements for other physical collateral

Part III › Title II › Chapter 4 › Section 3 › Subsection 2

• amended Article 213 - Requirements common to guarantees and credit derivatives
• amended Article 215 - Additional requirements for guarantees
• amended Article 216 - Additional requirements for credit derivatives
• amended Article 217 - Requirements to qualify for the treatment set out in Article 153(3)

Part III › Title II › Chapter 4 › Section 4 › Subsection 1

• amended Article 220 - Using the Supervisory Volatility Adjustments Approach or the Own Estimates Volatility Adjustments Approach for master netting agreements
• amended Article 221 - Using the internal models approach for master netting agreements
• amended Article 225 - Own estimates of volatility adjustments under the Financial Collateral Comprehensive Method

Part III › Title II › Chapter 5 › Section 1

• amended Article 243 - Criteria for STS securitisations qualifying for differentiated capital treatment

Part III › Title II › Chapter 5 › Section 2

• amended Article 244 - Traditional securitisation
• amended Article 245 - Synthetic securitisation

Part III › Title II › Chapter 5 › Section 3 › Subsection 1

• amended Article 249 - Recognition of credit risk mitigation for securitisation positions
• amended Article 252 - Treatment of maturity mismatches in synthetic securitisations

Part III › Title II › Chapter 5 › Section 3 › Subsection 2

• amended Article 257 - Determination of tranche maturity (M T )

Part III › Title II › Chapter 5 › Section 3 › Subsection 3

• amended Article 259 - Calculation of risk-weighted exposure amounts under the SEC-IRBA
• amended Article 261 - Calculation of risk-weighted exposure amounts under the Standardised Approach (SEC-SA)
• amended Article 262 - Treatment of STS securitisations under the SEC-SA
• amended Article 263 - Calculation of risk-weighted exposure amounts under the External Ratings Based Approach (SEC-ERBA)
• amended Article 265 - Scope and operational requirements for the Internal Assessment Approach

Part III › Title II › Chapter 5 › Section 3 › Subsection 5

• amended Article 270 - Senior positions in SME securitisations

Part III › Title II › Chapter 6 › Section 1

• amended Article 272 - Definitions

Part III › Title II › Chapter 6 › Section 5

• amended Article 280 - Calculation of risk positions
• amended Article 282 - Hedging sets

Part III › Title II › Chapter 6 › Section 6

• amended Article 284 - Exposure value
• amended Article 285 - Exposure value for netting sets subject to a margin agreement

Part III › Title II › Chapter 6 › Section 7

• amended Article 296 - Recognition of contractual netting agreements
• amended Article 298 - Effects of recognition of netting as risk-reducing

Part III › Title II › Chapter 6 › Section 8

• amended Article 299 - Items in the trading book

Part III › Title II › Chapter 6 › Section 9

• amended Article 308 - Own funds requirements for pre-funded contributions to the default fund of a QCCP

Part III › Title III › Chapter 2

• amended Article 316 - Relevant indicator

Part III › Title IV › Chapter 1

• amended Article 325 - Approaches for calculating the own funds requirements for market risk

Part III › Title IV › Chapter 1A › Section 2

• amended Article 325d - Definitions
• amended Article 325f - Own funds requirements for delta and vega risks

Part III › Title IV › Chapter 1A › Section 3 › Subsection 1

• amended Article 325l - General interest rate risk factors

Part III › Title IV › Chapter 1A › Section 3 › Subsection 2

• amended Article 325r - Delta risk sensitivities

Part III › Title IV › Chapter 1A › Section 4

• amended Article 325u - Own funds requirements for residual risks

Part III › Title IV › Chapter 1A › Section 5 › Subsection 1

• amended Article 325w - Gross jump-to-default amounts
• amended Article 325y - Calculation of the own funds requirements for the default risk

Part III › Title IV › Chapter 1A › Section 5 › Subsection 3

• amended Article 325ac - Jump-to-default amounts for the ACTP
• amended Article 325ad - Calculation of the own funds requirements for the default risk for the ACTP

Part III › Title IV › Chapter 1A › Section 6 › Subsection 1

• amended Article 325ai - Intra-bucket correlations for credit spread risk for non-securitisations
• amended Article 325aj - Correlations across buckets for credit spread risk for non-securitisations
• amended Article 325an - Intra-bucket correlations for credit spread risk for securitisations not included in the ACTP
• amended Article 325aq - Intra-bucket correlations for equity risk
• amended Article 325at - Intra-bucket correlations for commodity risk

Part III › Title IV › Chapter 1A › Section 6 › Subsection 2

• amended Article 325ax - Vega and curvature risk weights
• amended Article 325ay - Vega and curvature risk correlations

Part III › Title IV › Chapter 1B › Section 1

• amended Article 325ba - Own funds requirements when using alternative internal models

Part III › Title IV › Chapter 1B › Section 2

• amended Article 325bb - Expected shortfall risk measure
• amended Article 325bc - Partial expected shortfall calculations
• amended Article 325bf - Regulatory back-testing requirements and multiplication factors

Part III › Title IV › Chapter 2 › Section 1

• amended Article 331 - Interest rate risk on derivative instruments

Part III › Title IV › Chapter 2 › Section 2 › Subsection 1

• amended Article 336 - Own funds requirement for non-securitisation debt instruments
• amended Article 338 - Own funds requirement for the correlation trading portfolio

Part III › Title IV › Chapter 2 › Section 5

• amended Article 346 - Allowance for hedges by credit derivatives

Part III › Title IV › Chapter 2 › Section 6

• amended Article 349 - General criteria for CIUs

Part III › Title IV › Chapter 5 › Section 1

• amended Article 364 - Own funds requirements when using internal models

Part III › Title IV › Chapter 5 › Section 5

• amended Article 377 - Requirements for an internal model for correlation trading

Part III › Title VI

• amended Article 383 - Advanced method
• amended Article 384 - Standardised method

Part IV

• amended Article 402 - Exposures arising from mortgage lending

Part VI › Title I

• amended Article 411 - Definitions

Part VI › Title II

• amended Article 416 - Reporting on liquid assets
• amended Article 417 - Operational requirements for holdings of liquid assets
• amended Article 422 - Outflows on other liabilities
• amended Article 425 - Inflows

Part VI › Title III

• amended Article 427 - Items providing stable funding
• amended Article 428 - Items requiring stable funding

Part VII

• amended Article 429 - Calculation of the leverage ratio
• amended Article 429b - Counterparty credit risk add-on for repurchase transactions, securities or commodities lending or borrowing transactions, long settlement transactions and margin lending transactions

Part SEVENA

• amended Article 430 - Reporting on prudential requirements and financial information
• amended Article 430b - Specific reporting requirements for market risk
• amended Article 430c - Feasibility report on the integrated reporting system

Part VIII › Title II

• amended Article 436 - Scope of application
• amended Article 437 - Own funds
• amended Article 438 - Capital requirements
• amended Article 442 - Credit risk adjustments
• amended Article 449 - Exposure to securitisation positions
• amended Article 450 - Remuneration policy

Part VIII › Title III

• amended Article 452 - Use of the IRB Approach to credit risk
• amended Article 455 - Use of Internal Market Risk Models

Part IX

• amended Article 458 - Macroprudential or systemic risk identified at the level of a Member State

Part X › Title I › Chapter 1 › Section 3 › Subsection 1

• amended Article 473a - Introduction of IFRS 9

Part X › Title I › Chapter 4

• amended Article 497 - Own funds requirements for exposures to CCPs

Part X › Title II

• amended Article 509 - Liquidity requirements

Part X › Title III

• amended Article 520 - Amendment of Regulation (EU) No 648/2012

Outside any heading

• amended Annex I - Classification of off-balance sheet items
• amended Annex II - Types of derivatives
• amended Annex III - Items subject to supplementary reporting of liquid assets
• amended Annex IV - Correlation table