Art. 494c · Grandfathering of senior securitisation positions

Version in force 28 June 2021, Inserted +468 −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)

Applies from: not readable (an inserted provision states its own application date only in prose) why

Explanation, written by a model and checked against the cited text

A new Article 494c is added, allowing an originator institution to calculate risk-weighted exposure amounts of a senior securitisation position under Article 260, 262 or 264 instead of Article 270, subject to two conditions concerning issuance before 9 April 2021 and conformity with Article 270 as it applied on 8 April 2021.

Cited: Art. 494c, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 494c
Grandfathering of senior securitisation positions
By way of derogation from Article 270, an originator institution may calculate the risk-weighted exposure amounts of a senior securitisation position in accordance with Article 260, 262 or 264 where both the following conditions are met:
(a) the securitisation was issued before 9 April 2021;
(b) the securitisation met, on 8 April 2021, the conditions laid down in Article 270 as applicable at that date.