Version in force , Modified +760 −1,065§
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
Point (d) now references the 0% risk weight assignment as coming under Article 118 rather than Article 117.
A new point (fa) adds regulated financial sector entities as eligible protection providers, with a definition tying that term to the condition in Article 142(1), point (4)(b), while point (g) is rewritten to cover other undertakings with a nominated ECAI credit assessment, excluding cases where credit protection is provided to a securitisation exposure, and the prior subpoints (i) and (ii) distinguishing ECAI-rated versus internally rated corporate entities are removed from point (g).
Paragraph 2 is restructured so that internally rated corporate entities under the IRB approach are now described as eligible providers in addition to those listed in paragraph 1, and the former second subparagraph about competent authorities publishing lists of eligible financial institutions under point (f) is no longer present in the text shown.
Cited: Art. 201, v2 (external, EUR-Lex) · Art. 201, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
texts differ too much for an inline diff; shown separately
Previous version, in force 9 July 2024 02013R0575-20240709
Article 201 Eligibility of protection providers under all approaches 1. Institutions may use the following parties as eligible providers of unfunded credit protection: (a) central governments and central banks; (b) regional governments or local authorities; (c) multilateral development banks; (d) international organisations exposures to which a 0 % risk weight under Article 117 is assigned; (e) public sector entities, claims on which are treated in accordance with Article 116; (f) institutions, and financial institutions for which exposures to the financial institution are treated as exposures to institutions in accordance with Article 119(5); (g) other corporate entities, including parent undertakings, subsidiaries and affiliated corporate entities of the institution, where either of the following conditions is met: (i) those other corporate entities have a credit assessment by an ECAI; (ii) in the case of institutions calculating risk-weighted exposure amounts and expected loss amounts under the IRB Approach, those other corporate entities do not have a credit assessment by a recognised ECAI and are internally rated by the institution; (h) qualifying central counterparties. 2. Where institutions calculate risk-weighted exposure amounts and expected loss amounts under the IRB Approach, to be eligible as a provider of unfunded credit protection a guarantor shall be internally rated by the institution in accordance with the provisions of Section 6 of Chapter 3. Competent authorities shall publish and maintain the list of those financial institutions that are eligible providers of unfunded credit protection under point (f) of paragraph 1, or the guiding criteria for identifying such eligible providers of unfunded credit protection, together with a description of the applicable prudential requirements, and share their list with other competent authorities in accordance with Article 117 of Directive 2013/36/EU.
this version, in force 1 January 2025 02013R0575-20250101
Article 201 Eligibility of protection providers under all approaches 1. Institutions may use the following parties as eligible providers of unfunded credit protection: (a) central governments and central banks; (b) regional governments or local authorities; (c) multilateral development banks; (d) international organisations to which a 0 % risk weight is assigned in accordance with in Article 118; (e) public sector entities, claims on which are treated in accordance with Article 116; (f) institutions, and financial institutions for which exposures to the financial institution are treated as exposures to institutions in accordance with Article 119(5); (fa) regulated financial sector entities; (g) where the credit protection is not provided to a securitisation exposure, other undertakings, that have a credit assessment by a nominated ECAI, including parent undertakings, subsidiaries or affiliated entities of the obligor where a direct exposure to those parent undertakings, subsidiaries or affiliated entities has a lower risk weight than the exposure to the obligor; (h) qualifying central counterparties. For the purposes of the first subparagraph, point (fa), of this Article, regulated financial sector entity means a financial sector entity meeting the condition set out in Article 142(1), point (4)(b). 2. In addition to the protection providers listed in paragraph 1, corporate entities that are internally rated by the institution in accordance with Chapter 3, Section 6, shall be eligible providers of unfunded credit protection where the institution uses the IRB approach for exposures to those corporate entities.