Version in force , Modified +356 −9§
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)
Explanation, written by a model and checked against the cited text
The definition of underlying CIU in point (4) now ends with a semicolon rather than a full stop, connecting it to a new point.
A new point (5) has been added, defining the substitution of risk parameters approach under A-IRB as the substitution, under Article 236a, of both the PD and LGD risk parameters of the underlying exposure with the PD and LGD that would apply under the IRB approach using own estimates of LGD for a comparable direct exposure to the protection provider.
The earlier version contained only the four definitions ending with underlying CIU, without any provision corresponding to the new point (5).
Cited: Art. 192, v2 (external, EUR-Lex) · Art. 192, v1 (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 192
Definitions
For the purposes of this Chapter, the following definitions shall apply:
(1) lending institution means the institution which has the exposure in question;
(2) secured lending transaction means any transaction giving rise to an exposure secured by collateral which does not include a provision conferring upon the institution the right to receive margin at least daily;
(3) capital market-driven transaction means any transaction giving rise to an exposure secured by collateral which includes a provision conferring upon the institution the right to receive margin at least daily;
(4) underlying CIU means a CIU in the shares or units of which another CIU has invested. invested;
(5) substitution of risk parameters approach under A-IRB means the substitution, in accordance with Article 236a, of both the PD and LGD risk parameters of the underlying exposure with the corresponding PD and LGD that would be assigned under the IRB approach using own estimates of LGD to a comparable direct exposure to the protection provider.