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Provision history · CRR

Art. 500c · Exclusion of overshootings from the calculation of the back-testing addend in view of the COVID-19 pandemic

Capital Requirements Regulation · 32013R0575 · every version of this act · on EUR-Lex

2 changes recorded across 2 versions, newest first.

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Version in force Modified +12 −14

Amended by Regulation (EU) 2024/1623 32024R1623 on EUR-Lex · Regulation (EU) 2024/2987 32024R2987 on EUR-Lex · Regulation (EU) 2024/2795 32024R2795 on EUR-Lex

Applies from: no date changed

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

The two internal cross-references that previously pointed to Article 366(3) now point to Article 325bf instead, both where the derogation is stated and where the addend calculation is referenced.

The remaining wording, including the conditions on overshootings not resulting from model deficiencies and the 1 January 2020 to 31 December 2021 period, is unchanged.

Cited: Art. 500c, v1 · Art. 500c, v2

v1 is the previous version, v2 this one.

Text from EUR-Lex, before and after

Previous version, in force 9 July 2024 02013R0575-20240709 → this version, in force 1 January 2025 02013R0575-20250101

Article 500c Exclusion of overshootings from the calculation of the back-testing addend in view of the COVID-19 pandemic By way of derogation from Article 366(3), 325bf, competent authorities may, in exceptional circumstances and in individual cases, permit institutions to exclude the overshootings evidenced by the institution’s back-testing on hypothetical or actual changes from the calculation of the addend set out in Article 366(3), 325bf, provided that those overshootings do not result from deficiencies in the internal model and provided that they occurred between 1 January 2020 and 31 December 2021.

Version in force Inserted

Amended by Regulation (EU) 2020/873 32020R0873 on 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 500c is added, allowing competent authorities, in exceptional circumstances and on a case-by-case basis, to permit institutions to exclude certain back-testing overshootings from the calculation of the addend referred to in Article 366(3), departing from that provision.

The exclusion applies only to overshootings that do not stem from deficiencies in the internal model and that occurred between 1 January 2020 and 31 December 2021.

Cited: Art. 500c, v2

v1 is the previous version, v2 this one.

Text from EUR-Lex, on this version's page