((b))monies due from secured lending and capital market-driven transactions as defined in points (2) and (3) of Article 192 of Regulation (EU) No 575/2013 collateralised by liquid assets, shall not be taken into account up to the value of the liquid assets net of the haircuts applicable in accordance with Title II. Monies due for the remaining value or where they are collateralised by assets that do not qualify as liquid assets in accordance with Title II shall be taken into account in full. No inflow shall be allowed if the collateral is used to cover a short position according to Article 30(5);
((e))collateral swaps that mature within 30 calendar days shall lead to an inflow for the excess liquidty value of the assets lent compared to the liquidity value of the assets borrowed;
1. 1. Liquidity inflows shall be assessed over a period of 30 calendar days. They shall comprise only contractual inflows from exposures that are not past due and for which the credit institution has no reason to expect non-performance within 30 calendar days.
2. 2.Credit Liquidity inflowsinstitutions shall receiveapply a 100 % inflow rate,rate to inflows referred to in paragraph 1, including in particular the following inflows:
(a)monies due from central banks and financial customers with a residual maturity of no more than 30 calendar days;
(b)((ii)) monies due from trade finance transactions referred to in point (b) of the second subparagraph of Article 162(3) of Regulation (EU) No 575/2013 with a residual maturity of lessno more than 30 calendar days;
(c)((i)) monies due from securities maturing within 30 calendar days;
(d)((b)) monies due from positions in major indexes of equity instruments, provided there is no double counting with liquid assets. Those monies shall include monies contractually due within 30 calendar days, such as cash dividends from suchthose major indexes and cash due from suchthose equity instruments sold but not yet settled, if they are not recognised as liquid assets in accordance with Title II;II.
3. 3.By Byway of derogation from paragraph 2, the inflows set out in this paragraph shall be subject to the following requirements:
(a)((a)) monies due from non-financial customers with a residual maturity of no more than 30 calendar days, with the exception of monies due from those customers from trade finance transactions or maturing securities, shall be reduced for the purposes of principal payment by 50 % of their value or by the contractual commitments to those customers to extend funding, whichever is higher.value. For the purposes of this point, non-financialthe customersterm ‘non-financial customers’ shall includehave corporates,the sovereigns,same multilateralmeaning developmentas banksin andArticle public31a(2). sector entities; By derogationHowever, credit institutions acting as intermediaries that have received a commitment as referred to in the second subparagraph of Article 31(9) from a credit institution set up and sponsored by the central or regional government of at least one Member State in order for them to disburse a promotional loan to a final recipient, or have received a similar commitment from a multilateral development bank or a public sector entity, may take an inflow into account up to the amount of the outflow that they apply to the corresponding commitment to extend those promotional loans.loans;
(b)((a)) monies due from centralsecured bankslending and financialcapital customers.market-driven Intransactions, relationas to the latter, inflows from the following transactionsdefined in particularpoints shall(2) beand regarded(3) as subject to the 100 % inflow rate:(i)securities maturing within 30 calendar days;(ii)trade finance transactions referred to in point (b) of the second subparagraphrespectively of Article 162(3)192 of Regulation (EU) No 575/2013575/2013, with a residual maturity of lessno more than 30 calendar days;days shall be multiplied by:
(i)0 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 10 of this Regulation as liquid assets of any of the categories of level 1 asset referred to in Article 10, with the exception of extremely high quality covered bonds referred to in point (f) of Article 10(1);
(ii)7 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 10 of this Regulation as liquid assets of the category referred to in point (f) of Article 10(1);
(iii)15 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 11 of this Regulation as liquid assets of any of the categories of level 2A asset referred to in Article 11;
(iv)25 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 13 of this Regulation as liquid assets of any of the categories of level 2B asset referred to in point (i), (ii) or (iv) of point (g) of Article 13(2);
(v)30 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 12 of this Regulation as liquid assets of the category of level 2B asset referred to in point (e) of Article 12(1);
(vi)35 % where they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 13 of this Regulation as liquid assets of any of the categories of level 2B asset referred to in point (iii) or (v) of point (g) of Article 13(2);
(vii)50 % if they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 12 of this Regulation as liquid assets of any of the categories of level 2B asset referred to in point (b), (c) or (f) of Article 12(1);
(viii)the percentage minimum haircut determined in accordance with paragraphs (2) and (3) of Article 15 of this Regulation if they are collateralised by assets that, whether or not they are re-used in another transaction, would qualify in accordance with Articles 7 and 15 as shares or units in CIUs of the same level as the underlying liquid assets;
(ix)100 % where they are collateralised by assets that do not fall within any of points (i) to (viii) of this point.
However, no inflow shall be recognised where the collateral is used by the credit institution to cover a short position in accordance with the second sentence of Article 30(5);
(c)((c)) monies due from contractual maturing margin loans maturing in the next 30 calendar days made against non-liquid assets collateral may receive a 50 % inflow rate. SuchThose inflows may only be considered ifwhere the credit institution is not using the collateral it originally received against the loans to cover any short positions;
(d)((d)) monies due that the credit institution owing those monies treats in accordance with Article 27, with the exception of deposits at the central institution referred to in Article 27(3), shall be multiplied by a corresponding symmetrical inflow rate. Where the corresponding rate cannot be established, a 5 % inflow rate shall be applied;
(e)collateral swaps, and other transactions with a similar form that mature within 30 calendar days shall lead to an inflow where the asset lent is subject to a lower haircut under Chapter 2 than the asset borrowed. The inflow shall be calculated by multiplying the market value of the asset lent by the difference between the inflow rate applicable to the asset borrowed and the inflow rate applicable to the asset lent in accordance with the rates specified in point (b). For the purposes of this calculation, a 100 % haircut shall apply to assets that do not qualify as liquid assets;
(f)((f)) ifwhere the collateral obtained through reverse repo,repos, securities borrowing, orborrowings, collateral swaps, whichor maturesother transactions with a similar form, maturing within the30 30-daycalendar horizon,days is rehypothecated and used to cover short positions that can be extended beyond 30 calendar days, athe credit institution shall assume that such reverse reporepos, securities borrowings, collateral swaps or securitiesother borrowingtransactions arrangementswith a similar form will be rolled-over and will not give rise to any cash inflows reflecting itsthe need to continue to cover the short position or to re-purchase the relevant securities. Short positions shall include both instances where in a matched book the credit institution sold short a security outright as part of a trading or hedging strategy and instances where in a matched book the credit institution is short a security in the matched repo book and has borrowed a security for a given period and lent the security out for a longer period;
(g)((g)) any undrawn credit or liquidity facilities, including undrawn committed liquidity facilities from central banks, and any other commitments received from entitiesreceived, other than central banks and those referred to in the second subparagraph of Article 3431(9) shall not be taken into account. Undrawn committed liquidity facilities from the central bank which are recognised as liquid assetsand in accordance with Article 1434, shall not be taken into account as an inflow;
(h)((h)) monies due from securities issued by the credit institution itself or by a relatedSSPE entitywith which the credit institution has close links shall be taken into account on a net basis with an inflow rate applied on the basis of the inflow rate applicable to the underlying assetassets pursuantin toaccordance with this Article;
(i)((i)) assetsloans with an undefined contractual end date shall be taken into account with a 20 % inflow rate, provided that the contract allows the credit institution to withdraw or to request payment within 30 calendar days.
4. 4. Point (a) of paragraph 3 shall not apply to monies due from secured lending and capital market-driven transactions as defined in points (2) and (3) of Article 192 of Regulation (EU) No 575/2013 that are collateralised by liquid assets in accordance with Title II as referred to in point (b) of paragraph 3. Inflows from the release of balances held in segregated accounts in accordance with regulatory requirements for the protection of customer trading assets shall be taken into account in full, provided that those segregated balances are maintained in liquid assets as defined in Title II.
5. 5. Outflows and inflows expected over 30 calendar days from the contracts listed in Annex II ofto Regulation (EU) No 575/2013 and from credit derivatives shall be calculated on a net basis asin referredaccordance to inwith Article 21 and shall be multiplied by a 100 % inflow rate in the event of a net inflow.
6. 6. Credit institutions shall not take into account any inflows from any of the liquid assets referred to in Title II other than payments due on the assets that are not reflected in the market value of the asset.
7. 7. Credit institutions shall not take into account inflows from any new obligations entered into.
8. 8. Credit institutions shall take liquidity inflows which are to be received in third countries where there are transfer restrictions or which are denominated in non-convertible currencies into account only to the extent that they correspond to outflows respectively in the third country or currency in question.