Art. 311a · Definitions

Version in force 1 January 2025, Inserted +676 −0§

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)

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Explanation, written by a model and checked against the cited text

This provision is entirely new, adding Article 311a to define terms used within the Title, including operational risk event, aggregated gross loss, aggregated net loss, and grouped losses.

Cited: Art. 311a, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 311a
Definitions
For the purposes of this Title, the following definitions apply:
(1) operational risk event means any event linked to an operational risk which generates a loss or multiple losses, within one or multiple financial years;
(2) aggregated gross loss means the sum of all gross losses linked to the same operational risk event over one or multiple financial years;
(3) aggregated net loss means the sum of all net losses linked to the same operational risk event over one or multiple financial years;
(4) grouped losses means all operational losses caused by a common underlying trigger or root cause that could be grouped into one operational risk event.