Version in force , Modified +38 −59§
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 phrase describing the own funds requirement now reads "general and specific risk" instead of "specific and general risk" in both sentences of paragraph 1.
The second sentence of paragraph 1 no longer references Article 367(2)(b) alongside Article 353 and Article 352(4), and "foreign-exchange risk" is now written as "foreign exchange risk".
Cited: Art. 348, v1 (external, EUR-Lex) · Art. 348, 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 348
Own funds requirements for CIUs
1. Without prejudice to other provisions in this Section, positions in CIUs shall be subject to an own funds requirement for position risk, comprising general and specific and general risk, of 32 %. Without prejudice to Article 353 taken together with the amended gold treatment set out in Article 352(4) and Article 367(2)(b) positions in CIUs shall be subject to an own funds requirement for position risk, comprising general and specific and general risk, and foreign-exchange foreign exchange risk of 40 %.
2. Unless noted otherwise in Article 350, no netting is permitted between the underlying investments of a CIU and other positions held by the institution.