Art. 493
Capital Requirements Regulation · 32013R0575 · every event for this act · on EUR-Lex
Transitional provisions for large exposures
9 changes recorded across 9 events, newest first.
in force 2025-01-01 MODIFIED+121 −78§
Amended by Regulation (EU) 2024/1623 32024R1623 · Regulation (EU) 2024/2987 32024R2987 · Regulation (EU) 2024/2795 32024R2795
applies from: unchanged
Point (i) of Article 493(3) now describes the exempted off-balance-sheet items using the terms 'bucket 4' and 'bucket 3' instead of the earlier 'medium/low risk' classification for documentary credits and undrawn credit facilities.
The revised text also adds a qualification limiting the undrawn credit facilities referred to Annex I to those with an original maturity of up to and including one year, a restriction absent from the earlier wording.
Cited: Art. 493, v2 · Art. 493, v1
text before / after
02013R0575-20240709 → 02013R0575-20250101
Article 493
Transitional provisions for large exposures
1. Until 26 June 2021, the provisions on large exposures as laid down in Articles 387 to 403 of this Regulation shall not apply to investment firms, the main business of which consists exclusively of … 680 unchanged words … held in government securities which are denominated and funded in their national currencies provided that, at the discretion of the competent authority, the credit assessment of those central governments assigned by a nominated ECAI is investment grade;
(i) 50 % of medium/low risk off-balance sheet bucket 4 off-balance-sheet documentary credits and of medium/low risk off-balance sheet bucket 3 off-balance-sheet undrawn credit facilities referred to in Annex I with an original maturity of up to and including one year and subject to the competent authorities' authorities’ agreement, 80 % of guarantees other than loan guarantees which have a legal or regulatory basis and are given for their members by mutual guarantee schemes possessing the status of credit institutions;
(j) legally required guarantees used when a mortgage loan … 477 unchanged words … to in paragraph 5 of this Article incurred before 12 December 2017 to which a risk weight of 0 % was assigned on 31 December 2017 in accordance with Article 495(2) shall be exempted from the application of Article 395(1).
in force 2024-07-09 MODIFIED§
Amended by Regulation (EU) 2024/1623 32024R1623
applies from: unchanged
The reference in point (a) of paragraph 3 was changed from covered bonds falling within Article 129(1), (3) and (6) to covered bonds as referred to in Article 129, removing the specific sub-paragraph citations.
Cited: Art. 493, v1 · Art. 493, v2
text before / after, on the event page →
in force 2023-06-28 MODIFIED§
Amended by Regulation (EU) 2019/876 32019R0876
applies from: unknown
Sources disagree, and there is no text on either side — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.
No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships marked disputed.
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in force 2021-06-28 MODIFIED§
Amended by Regulation (EU) 2019/2033 32019R2033 · Regulation (EU) 2019/876 32019R0876 · Regulation (EU) 2021/558 32021R0558 · Regulation (EU) 2020/873 32020R0873
applies from: unchanged
Point (c) of paragraph 3 now adds 'qualifying holdings' to the list of an institution's own subsidiaries covered by the exemption, alongside participations or other kinds of holdings.
The point also changes punctuation, replacing the period before the sentence on exposures that do not meet those criteria with a semicolon, without altering the wording of that sentence.
Cited: Art. 493, v2 · Art. 493, v1
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in force 2020-12-28 MODIFIED§
Amended by Regulation (EU) 2019/876 32019R0876
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2004-04-21, 2021-06-26 · dates removed: 1993-05-10
Sources disagree about what is listed, not about the text — the text comparison and the amending act's instructions found this change; the EU's own amendment metadata does not list it. All are shown; none is overruled.
Paragraph 1 now opens with a fixed end date, stating the exemption for large-exposures rules applies until 26 June 2021, replacing the earlier wording that tied the exemption's end to 31 December 2020 or the entry into force of amendments under paragraph 2, whichever came first.
The list of financial instrument points referenced from Annex I, Section C is expanded to include point (11) in addition to points (5), (6), (7), (9) and (10), and the reference shifts to citing Directive 2014/65/EU for those points while separately identifying Directive 2004/39/EC, dated 21 April 2004, as the directive that did not apply on 31 December 2006.
The earlier text's footnote reference to Council Directive 93/22/EEC of 10 May 1993 is removed and replaced by a footnote identifying Directive 2004/39/EC of the European Parliament and of the Council, including its full title and its repeal of Directive 93/22/EEC.
Cited: Art. 493, v1 · Art. 493, v2
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in force 2019-06-27 MODIFIED§
Amended by Regulation (EU) 2019/876 32019R0876
applies from: unknown
Sources disagree, and there is no text on either side — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.
No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships marked disputed.
text before / after, on the event page →
in force 2018-01-01 MODIFIED§
Amended by Regulation (EU) 2017/2395 32017R2395 · Regulation (EU) 2017/2188 32017R2188
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2017-12-12, 2017-12-31, 2018-12-31, 2019-12-31
The after text adds new paragraphs 4 through 7 to Article 493, introducing transitional limits letting competent authorities allow institutions to incur certain exposures up to specified percentages of Tier 1 capital until set dates in 2018, 2019 and 2020.
It specifies the categories of exposures to which those limits apply, being claims on or guaranteed by central governments, central banks, regional governments, local authorities or public sector entities of Member States, and sets conditions tied to a zero percent risk weight under the version of Article 495(2) in force on 31 December 2017 and to whether the exposure was incurred before or on/after 12 December 2017.
The earlier version of the article, containing only paragraphs 1 to 3, did not include any of these additional transitional rules on large exposures.
Cited: Art. 493, v2 · Art. 493, v1
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in force 2016-07-19 DEFERRED§
Amended by Regulation (EU) 2016/1014 32016R1014
applies from: 2020-12-31
dates added to the text: 2020-12-31 · dates removed: 2017-12-31
The end date for the exemption available to certain investment firms under paragraph 1 was changed from 31 December 2017 to 31 December 2020.
Cited: Art. 493, v1 · Art. 493, v2
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detected 2026-08-13 MODIFIED§
no amending act named
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2028-12-31 · dates removed: 2029-01-02
The transitional exemption period for large exposures under Article 493(3) now ends no later than 31 December 2028, replacing the earlier cut-off of 2 January 2029.
The wording in paragraph 2 was lightly reworded, changing 'this report' to 'that report' and 'submit proposals for amendments to this Regulation' to 'submit proposals to amend this Regulation', without changing its substance.
Point (j) of paragraph 3 was reworded slightly by inserting the word 'that' after 'provided', with no other change to its content.
Cited: Art. 493, v1 · Art. 493, v2
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