Version in force , Modified +16 −16§
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
Paragraph 3 now refers to Article 325(6) or (8) instead of Article 338(1) or (3) as the provisions defining the credit derivatives it covers.
The same paragraph also changes the cross-reference for the specific risk own funds requirement determination from Article 338(4) to Article 338(2).
Cited: Art. 332, v1 (external, EUR-Lex) · Art. 332, 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 332
Credit Derivatives
1. When calculating the own funds requirement for general and specific risk of the party who assumes the credit risk (the protection seller), unless specified differently, the notional amount of the credit derivative contract shall be used. Notwithstanding … 652 unchanged words … from the protection seller's perspective carrying a negative sign. If at a given moment there is a call option in combination with a step-up, such moment is treated as the maturity of the protection.
3. Credit derivatives in accordance with Article 338(1) 325(6) or (3) (8) shall be included only in the determination of the specific risk own funds requirement in accordance with Article 338(4). 338(2).