Version in force , Modified +497 −112§
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 heading changed from "Stable Funding" to "Stable funding requirement", and paragraph 1 now refers to long term assets and off-balance-sheet items being met with a diverse set of funding instruments that are stable, rather than long term obligations being met with a diversity of stable funding instruments.
Paragraph 2 adds a condition tying the Title III reporting rules to the point when reporting obligations for the net stable funding ratio under Title IV have been specified and introduced in Union law, and a new paragraph 3 is inserted stating that Title IV applies to specify the stable funding requirement in paragraph 1 and related reporting obligations under Article 415.
What was paragraph 3 in the earlier text is renumbered as paragraph 4 and now refers to national provisions being maintainable or introducible before binding minimum standards for the net stable funding requirements set out in paragraph 1 become applicable, instead of before such standards are specified and introduced in the Union under Article 510.
Cited: Art. 413, v1 (external, EUR-Lex) · Art. 413, 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 413
Stable Funding funding requirement
1. Institutions shall ensure that long term obligations assets and off-balance-sheet items are adequately met with a diversity diverse set of stable funding instruments that are stable under both normal and stressed conditions.
2. The provisions set out in Title III shall apply exclusively for the purposes purpose of specifying reporting obligations set out in Article 415 until reporting obligations set out in that Article for the net stable funding ratio set out in Title IV have been specified and introduced in Union law.
3. The provisions set out in Title IV shall apply for the purpose of specifying the stable funding requirement set out in paragraph 1 of this Article and reporting obligations for institutions set out in Article 415.
3. 4. Member States may maintain or introduce national provisions in the area of stable funding requirements before binding minimum standards for the net stable funding requirements are specified and introduced set out in the Union in accordance with Article 510. paragraph 1 become applicable.