Version in force , Modified +62 −106§
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 heading and body text now hyphenate "on-balance-sheet" netting throughout, replacing the earlier unhyphenated "on-balance sheet" form.
The clause requiring the loans and deposits to be denominated in the same currency has been removed from the sentence describing treatment as cash collateral, and "are to be treated" has been changed to "shall be treated".
Cited: Art. 219, v1 (external, EUR-Lex) · Art. 219, 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 219
On-balance sheet On-balance-sheet netting
Loans to and deposits with the lending institution subject to on-balance sheet on-balance-sheet netting are to shall be treated by that institution as cash collateral for the purpose of calculating the effect of funded credit protection for those loans and deposits of the lending institution subject to on-balance sheet netting which are denominated in the same currency. on-balance-sheet netting.