Version in force , Modified +916 −555§
Amended by Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex)
dates added to the text: 2021-06-28, 2023-12-31 · dates removed: 2015-12-31
Explanation, written by a model and checked against the cited text
Paragraph 1 now assigns EBA, rather than the Commission, the task of monitoring use of specified exemptions under Articles 390(6), 400(1) and 400(2) and requires it to submit a report to the Commission by 28 June 2021 assessing the quantitative impact of removing those exemptions or limiting their use, with a breakdown by Member State of exempted exposures, institutions using the exemption, and aggregate exempted amounts.
Paragraph 2 replaces the prior 31 December 2015 review of Article 400(1)(j) and Article 400(2) with a Commission report due by 31 December 2023 to the European Parliament and Council concerning derogations under Articles 390(4) and 401(2) on exposure value calculation methods for securities financing transactions and the relevance of international standards.
The earlier text's separate paragraph on the national discretion under Article 400(2)(c) and its potential Union-level application no longer appears.
Cited: Art. 507, v2 (external, EUR-Lex) · Art. 507, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
texts differ too much for an inline diff; shown separately
Previous version, in force 26 April 2019 02013R0575-20190426
Article 507 Large exposures By 31 December 2015, the Commission shall review and report on the application of Article 400(1)(j) and Article 400(2), including whether the exemptions set out in Article 400(2) is to be discretionary, and shall submit that report to the European Parliament and to the Council, together with a legislative proposal, if appropriate. With respect to the potential elimination of the national discretion under Article 400(2)(c) and its potential application at the Union level, the review shall in particular take into account the efficiency of group risk management while ensuring that sufficient safeguards are in place to ensure financial stability in all Member States in which an entity belonging to a group is incorporated.
this version, in force 27 June 2019 02013R0575-20190627
Article 507 Large exposures 1. EBA shall monitor the use of exemptions set out in point (b) of Article 390(6), points (f) to (m) of Article 400(1), point (a) and points (c) to (g), (i), (j) and (k) of Article 400(2) and by 28 June 2021 submit a report to the Commission assessing the quantitative impact that the removal of those exemptions or the setting of a limit on their use would have. That report shall assess, in particular, for each exemption provided for in those Articles: (a) the number of large exposures exempted in each Member State; (b) the number of institutions that make use of the exemption in each Member State; (c) the aggregate amount of exposures exempted in each Member State. 2. By 31 December 2023, the Commission shall submit a report to the European Parliament and to the Council on the application of the derogations referred to in Articles 390(4) and 401(2) concerning the methods for the calculation of exposure value of securities financing transactions, and in particular the need to take account of amendments in international standards determining the methods for such calculation.