What changes on 03/07/2014

The text in force from 01/11/2008 compared with the text from 03/07/2014.

Read the act as of 03/07/2014 · other versions: 28/10/2015

Chapter I

• inserted Article 1 - Definitions

Chapter II

• inserted Article 2 - Particular cases of exposure to the credit risk of a securitisation position

Chapter III

• inserted Article 3 - Retainers of material net economic interest
• inserted Article 4 - Fulfilment of the retention requirement through a synthetic or contingent form of retention
• inserted Article 5 - Retention option (a): pro rata retention in each of the tranches sold or transferred to investors
• inserted Article 6 - Retention option (b): retention of the originator's interest for revolving exposures
• inserted Article 7 - Retention option (c): retention of randomly selected exposures
• inserted Article 8 - Retention option (d): retention of the first loss tranche
• inserted Article 9 - Retention option (e): retention of a first loss in every securitised exposure
• inserted Article 10 - Measurement of the level of retention
• inserted Article 11 - Measurement of retention for the undrawn amounts in exposures in the form of credit facilities
• inserted Article 12 - Prohibition of hedging or selling the retained interest
• inserted Article 13 - Exemptions to Article 405(1) of Regulation (EU) No 575/2013
• inserted Article 14 - Retention on a consolidated basis

Chapter IV

• inserted Article 15 - Outsourcing and other general considerations
• inserted Article 16 - Specification of risk characteristics and structural features
• inserted Article 17 - Frequency of review
• inserted Article 18 - Stress Tests
• inserted Article 19 - Exposures in the trading book and non-trading book
• inserted Article 20 - Positions in the correlation trading portfolio

Chapter V

• inserted Article 21 - Policies for credit granting
• inserted Article 22 - Disclosure of the level of the commitment to maintain a net economic interest
• inserted Article 23 - Disclosure of materially relevant data

Outside any heading

• inserted Recital 1
• inserted Recital 2
• inserted Recital 3
• inserted Recital 4
• inserted Recital 5
• inserted Recital 6
• inserted Recital 7
• inserted Recital 8
• inserted Recital 9
• inserted Recital 10
• inserted Recital 11
• inserted Recital 12
• inserted Recital 13
• inserted Recital 14
• inserted Preamble

Chapter VI

• inserted Article 24 - Entry into force