Capital Requirements Regulation · 32013R0575 · every version of this act · on EUR-Lex (external, EUR-Lex)
3 changes recorded across 3 versions, newest first.
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Amended by Regulation (EU) 2024/1623 32024R1623 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2024/2987 32024R2987 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2024/2795 32024R2795 on EUR-Lex (external, EUR-Lex)
Applies from: no date changed
Explanation, written by a model and checked against the cited text
Paragraph 4 changes the stated purpose for assigning trading book positions to trading desks, from being tied to the reporting requirements set out in Article 430b(3) and desks established under Article 104b, to being tied to calculating own funds requirements for market risk under the approach referred to in Article 325(1), point (b), with desks no longer described by reference to Article 104b.
Cited: Art. 102, v1 (external, EUR-Lex) · Art. 102, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 9 July 2024 02013R0575-20240709 → this version, in force 1 January 2025 02013R0575-20250101
Article 102
Requirements for the trading book
1. Positions in the trading book shall be either free of restrictions on their tradability or able to be hedged.
2. Trading intent shall be evidenced on the basis of the strategies, policies and procedures set up by the institution to manage the position or portfolio in accordance with Articles 103, 104 and 104a.
3. Institutions shall establish and maintain systems and controls to manage their trading book in accordance with Article 103.
4. For the purposes purpose of calculating the reporting own funds requirements set out for market risk in accordance with the approach referred to in Article 430b(3), 325(1), point (b), trading book positions shall be assigned to trading desks established in accordance with Article 104b. desks.
5. Positions in the trading book shall be subject to the requirements for prudent valuation specified in Article 105.
6. Institutions shall treat internal hedges in accordance with Article 106.
Amended by Regulation (EU) 2019/2033 32019R2033 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2021/558 32021R0558 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2020/873 32020R0873 on EUR-Lex (external, EUR-Lex)
Applies from: no date changed
Explanation, written by a model and checked against the cited text
The reference to strategies, policies and procedures for evidencing trading intent now cites Articles 103, 104 and 104a instead of Article 103 alone.
The requirement to establish and maintain systems and controls now cites only Article 103, dropping the prior reference to Article 105.
Paragraph 4 no longer addresses internal hedges in capital requirement calculations but instead concerns assignment of trading book positions to trading desks under Article 104b for the reporting purposes of Article 430b(3), and two new paragraphs were added: one requiring prudent valuation of trading book positions under Article 105, and one requiring institutions to treat internal hedges in accordance with Article 106.
Cited: Art. 102, v2 (external, EUR-Lex) · Art. 102, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, on this version's page
no amending act named
Applies from: no date changed
Explanation, written by a model and checked against the cited text
The wording of paragraphs 1 through 4 is unchanged, with the only difference being formatting: the numeral for each paragraph now appears on its own line rather than immediately preceding the paragraph text.
The heading also changes from title-case "Requirements for the Trading Book" to sentence-case "Requirements for the trading book".
Cited: Art. 102, v1 (external, EUR-Lex) · Art. 102, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, on this version's page