Version in force , Modified +843 −56§
Amended by Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex)
dates added to the text: 2024-06-28
Explanation, written by a model and checked against the cited text
Paragraph 1 now describes the Commission's power as one to supplement the Regulation via delegated acts rather than simply to adopt a delegated act, refers to institutions generally rather than credit institutions, updates a cross-reference to Title II of Part Six, and adds a new subparagraph listing specific articles (including Article 8(3) and a range of Articles 411 to 451a) for which detailed liquidity requirements may be specified.
A new paragraph 3 has been added, empowering the Commission to adopt delegated acts amending the list of products or services in Article 428f(2) where assets and liabilities linked to other products or services meet the conditions of Article 428f(1), with that delegated act to be adopted by 28 June 2024.
Paragraph 2, containing the phasing-in schedule for the liquidity coverage requirement, remains unchanged between the two texts.
Cited: Art. 460, v1 (external, EUR-Lex) · Art. 460, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 26 April 2019 02013R0575-20190426 → this version, in force 27 June 2019 02013R0575-20190627
Article 460
Liquidity
1. The Commission shall be is empowered to adopt a supplement this Regulation by adopting delegated act acts in accordance with Article 462 to specify in detail the general requirement set out in Article 412(1). The delegated act Delegated acts adopted in accordance with this paragraph shall be based on the items to be reported in accordance with Part Six, Title II of Part Six and Annex III, III and shall specify under which circumstances competent authorities have to impose specific in- and outflow levels on credit institutions in order to capture specific risks to which they are exposed and shall respect the thresholds set out in paragraph 2. 2 of this Article.
In particular, the Commission is empowered to supplement this Regulation by adopting delegated acts specifying the detailed liquidity requirements for the purposes of the application of Article 8(3), Articles 411 to 416, 419, 422, 425, 428a, 428f, 428g, 428j to 428n, 428p, 428r, 428s, 428w, 428ae, 428ag, 428ah, 428ak and 451a.
2. The liquidity coverage requirement referred to in Article 412 shall be introduced in accordance with the following phasing-in:
(a) 60 % of the liquidity coverage requirement in 2015;
(b) 70 % as from 1 January 2016;
(c) 80 % as from 1 January 2017;
(d) 100 % as from 1 January 2018.
For this purpose the Commission shall take into account the reports referred to in Article 509(1), (2) and (3) and international standards developed by international fora as well as Union specificities.
The Commission shall adopt the delegated act referred to in paragraph 1 by 30 June 2014. It shall enter into force by 31 December 2014, but shall not apply before 1 January 2015.3. The Commission is empowered to amend this Regulation by adopting delegated acts in accordance with Article 462 amending the list of products or services set out in Article 428f(2) if it considers that assets and liabilities directly linked to other products or services meet the conditions set out in Article 428f(1).
The Commission shall adopt the delegated act referred to in the first subparagraph by 28 June 2024.