Art. 428g · Deposits in institutional protection schemes and cooperative networks

Version in force 28 June 2021, Inserted +1,057 −0§

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)

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This provision is entirely new, adding rules for sight deposits that an institution belonging to an institutional protection scheme, a waiver-eligible network under Article 10, or a cooperative network maintains with its central institution and treats as liquid assets.

It sets out that the depositing institution applies the required stable funding factor based on whether those deposits are treated as level 1, level 2A or level 2B assets and on the haircut used for the liquidity coverage ratio, while the central institution receiving the deposit applies the corresponding symmetric available stable funding factor.

Cited: Art. 428g, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 428g
Deposits in institutional protection schemes and cooperative networks
Where an institution belongs to an institutional protection scheme of the type referred to in Article 113(7), to a network that is eligible for the waiver provided for in Article 10, or to a cooperative network in a Member State, the sight deposits that the institution maintains with the central institution and that the depositing institution considers to be liquid assets pursuant to the delegated act referred to in Article 460(1) shall be subject to the following:
(a) the depositing institution shall apply the required stable funding factor under Section 2 of Chapter 4, depending on the treatment of those sight deposits as level 1, level 2A or level 2B assets pursuant to the delegated act referred to in Article 460(1) and depending on the relevant haircut applied to those sight deposits for the calculation of the liquidity coverage ratio;
(b) the central institution receiving the deposit shall apply the corresponding symmetric available stable funding factor.