Version in force , Modified +210 −64§
Amended by Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
The title and paragraph 1 now refer to own funds and eligible liabilities instruments, rather than only own funds instruments, and EBA's monitoring and notification duty and the competent authorities' information-forwarding duty are extended accordingly to cover new types of liabilities in addition to new capital instruments.
The criteria reference in paragraph 1 changed from citing Article 28 or Article 29 specifically to referring generally to the respective eligibility criteria set out in the Regulation.
Paragraph 3's reference to the definition being reviewed was changed from own funds alone to own funds and eligible liabilities.
Cited: Art. 80, v1 (external, EUR-Lex) · Art. 80, 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 80
Continuing review of the quality of own funds
and eligible liabilities instruments
1. EBA shall monitor the quality of own funds and eligible liabilities instruments issued by institutions across the Union and shall notify the Commission immediately where there is significant evidence of that those instruments do not meeting meet the respective eligibility criteria set out in Article 28 or, where applicable, Article 29. this Regulation.
Competent authorities shall, without delay, delay and upon request by EBA, forward all information to EBA that EBA deems considers relevant concerning new capital instruments or new types of liabilities issued in order to enable EBA to monitor the quality of own funds and eligible liabilities instruments issued by institutions across the Union.
2. A notification shall include the following:
(a) a detailed explanation of the nature and extent of the shortfall identified;
(b) technical advice on the action by the Commission that EBA considers to be necessary;
(c) significant developments in the methodology of EBA for stress testing the solvency of institutions.
3. EBA shall provide technical advice to the Commission on any significant changes it considers to be required to the definition of own funds and eligible liabilities as a result of any of the following:
(a) relevant developments in market standards or practice;
(b) changes in relevant legal or accounting standards;
(c) significant developments in the methodology of EBA for stress testing the solvency of institutions.
4. EBA shall provide technical advice to the Commission by 1 January 2014 on possible treatments of unrealised gains measured at fair value other than including them in Common Equity Tier 1 without adjustment. Such recommendations shall take into account relevant developments in international accounting standards and in international agreements on prudential standards for banks.