Version in force , Modified +289 −14§
Amended by Regulation (EU) 2021/424 32021R0424 on EUR-Lex (external, EUR-Lex)
Not in every listWhat this means
Found in the text, but not every source lists it — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. The source that does not name it is the amending act's instructions. All are shown; none is overruled.
Explanation, written by a model and checked against the cited text
Table 8 in paragraph 1 now includes two additional columns showing specific risk weight percentages for equity spot price and equity repo rate for each bucket, values that were absent from the earlier table.
The table also adds two new bucket rows, numbered 12 and 13, covering large market cap advanced economy indices and other indices, which did not appear in the earlier version.
Cited: Art. 325ap, v2 (external, EUR-Lex) · Art. 325ap, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 28 June 2021 02013R0575-20210629 → this version, in force 30 September 2021 02013R0575-20210930
Article 325ap
Risk weights for equity risk
1. Risk weights for the sensitivities to equity and equity repo rate risk factors shall be specified for each bucket in Table 8 pursuant to the delegated act referred to in Article 461a:
Table 8
Bucket number Market capitalisation capitali-sation Economy Sector
Risk weight for equity spot price Risk weight for equity repo rate
1 Large Emerging market economy Consumer goods and services, transportation and storage, administrative and support service activities, healthcare, utilities
55 % 0,55 %
2 Telecommunications, industrials
60 % 0,60 %
3 Basic materials, energy, agriculture, manufacturing, mining and quarrying
45 % 0,45 %
4 Financials including government-backed financials, real estate activities, technology
55 % 0,55 %
5 Advanced economy Consumer goods and services, transportation and storage, administrative and support service activities, healthcare, utilities
30 % 0,30 %
6 Telecommunications, industrials
35 % 0,35 %
7 Basic materials, energy, agriculture, manufacturing, mining and quarrying
40 % 0,40 %
8 Financials including government-backed financials, real estate activities, technology
50 % 0,50 %
9 Small Emerging market economy All sectors described under bucket numbers 1, 2, 3 and 4
70 % 0,70 %
10 Advanced economy All sectors described under bucket numbers 5, 6, 7 and 8
50 % 0,50 %
11 Other sector
70 % 0,70 %
12 Large market cap, advanced economy indices 15 % 0,15 %
13 Other indices 25 % 0,25 %
2. For the purposes of this Article, what constitutes a small and a large market capitalisation shall be specified in the regulatory technical standards referred to in Article 325bd(7).
3. For the purposes of this Article, EBA shall develop draft regulatory technical standards to specify what constitutes an emerging market and to specify what constitutes an advanced economy.
EBA shall submit those draft regulatory technical standards to the Commission by 28 June 2021.
Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
4. When assigning a risk exposure to a sector, institutions shall rely on a classification that is commonly used in the market for grouping issuers by sector. Institutions shall assign each issuer to one of the sector buckets in Table 8 and shall assign all issuers from the same industry to the same sector. Risk exposures from any issuer that an institution cannot assign to a sector in such a manner shall be assigned to bucket 11 in Table 8. Multinational or multi-sector equity issuers shall be assigned to a particular bucket on the basis of the most material region and sector in which the equity issuer operates.