Version in force , Modified +248 −380§
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)
Explanation, written by a model and checked against the cited text
The formula for calculating the own funds requirement changed from a calculation using coefficients c2 and μ multiplied by the sum of pre-funded and unfunded contributions to a simple sum of the pre-funded contribution amount (DF) and unfunded contribution amount (UC), with each term defined immediately after the formula.
The separate paragraph 2 defining unfunded contributions has been removed, and what was paragraph 3 (the risk-weighted exposure amount calculation) is now numbered paragraph 2, referring to the institution's contribution to the default fund rather than solely to its pre-funded contribution.
Cited: Art. 309, v1 (external, EUR-Lex) · Art. 309, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 28 December 2020 02013R0575-20201228 → this version, in force 28 June 2021 02013R0575-20210629
Article 309
Own funds requirements for pre-funded contributions to the default fund of a non-qualifying CCP and for unfunded contributions to a non-qualifying CCP
1. An institution shall apply the following formula to calculate the own funds requirement (Ki) for the exposures arising from its pre-funded contributions to the default fund of a non-qualifying CCP (DFi) and from unfunded contributions (UCi) to such CCP:Kic2 μ DFi UCi
where c2·and μ are defined as in Article 308(3).
2. For CCP:
K = DF + UC
where:
K
the purpose own funds requirement;
DF
the pre-funded contributions to the default fund of paragraph 1, a non-qualifying CCP; and
UC
the unfunded contributions means contributions that an institution acting as a clearing member has contractually committed to provide to a CCP after the CCP has depleted its default fund to cover the losses it incurred following the default of one or more of its clearing members.
3. a non-qualifying CCP.
2. An institution shall calculate the risk-weighted exposure amounts for exposures arising from an that institution's pre-funded contribution to the default fund of a non-qualifying CCP for the purposes of Article 92(3) as the own funds requirement (Ki) determined requirement, calculated in accordance with paragraph 1 of this Article, multiplied by 12,5. 12,5.”;