(242)

the following articles are inserted: ‘Article 495a Transitional arrangements for equity exposures 1. By way of derogation from the treatment laid down in Article 133(3), equity exposures shall be assigned the higher of the risk weight applicable on 8 July 2024, capped at 250 %, and the following risk-weights: 2. By way of derogation from the treatment laid down in Article 133(4), equity exposures shall be assigned the higher of the risk weight applicable on 8 July 2024 and the following risk weights: 3. By way of derogation from Article 133, institutions may continue to assign the same risk weight that was applicable on 8 July 2024 to equity exposures, including the part of the exposures not deducted from the own funds in accordance with Article 471 in the version of that Article applicable on 27 October 2021, to entities in which they have been a shareholder on 27 October 2021 for six consecutive years and over which they, or together with the network the institutions belong to, exercise significant influence or control within the meaning of Directive 2013/34/EU, or of the accounting standards to which an institution is subject under Regulation (EC) No 1606/2002, or as a result of a similar relationship between any natural or legal person or network of institutions and an undertaking, or where an institution has the capacity to appoint at least one member of the management body of the entity. Article 495b Transitional arrangements for specialised lending exposures 1. By way of derogation from Article 161(4), the LGD input floors applicable to specialised lending exposures treated under the IRB Approach where own estimates of LGD are used, shall be the applicable LGD input floors provided for in Article 161(4), multiplied by the following factors: 2. EBA shall prepare a report on the appropriate calibration of risk parameters, including the haircut parameter, applicable to specialised lending exposures under the IRB Approach, and in particular on own estimates of LGD and LGD input floors for each specific category of specialised lending exposures as referred to in Article 147(8). EBA shall in particular include in its report data on average numbers of defaults and realised losses observed in the Union for different samples of institutions with different business and risk profiles. EBA shall recommend specific calibrations of risk parameters, including the haircut parameter, that would reflect the specific and different risk profile for each specific category of specialised lending exposures. EBA shall submit that report to the European Parliament to the Council and to the Commission by 10 July 2026. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2027. 3. By way of derogation from Article 122a(3), point (a), specialised lending exposures as referred to in that point for which a directly applicable credit assessment by a nominated ECAI is not available may, until 31 December 2032, be assigned a risk weight of 80 %, where the adjustment to own funds requirements for credit risk referred to in Article 501a is not applied and the exposure is deemed to be of high quality when taking into account all of the following criteria: 4. EBA shall prepare a report, analysing the following: EBA shall submit that report to the European Parliament, to the Council and to the Commission by 31 December 2030. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031. Article 495c Transitional arrangements for leasing exposures as a credit risk mitigation technique 1. By way of derogation from Article 230, the applicable value of Hc corresponding to “other physical collateral” for exposures referred to in Article 199(7) where the asset leased corresponds to the “other physical collateral” type of funded credit protection, shall be the value of Hc for “other physical collateral” provided for in Article 230(2), Table 1, multiplied by the following factors: 2. EBA shall prepare a report on the appropriate calibrations of risk parameters associated with leasing exposures under the IRB Approach, and of risk weights under the Standardised Approach, and in particular on the LGDs and Hc provided for in Article 230. EBA shall in particular include in its report data on average numbers of defaults and realised losses observed in the Union for exposures associated with different types of properties leased and different types of institutions practicing leasing activities. EBA shall submit that report to the European Parliament, to the Council and to the Commission by 10 July 2027. On the basis of that report, and taking into account the internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2028. Article 495d Transitional arrangements for unconditional cancellable commitments 1. By way of derogation from Article 111(2), institutions shall calculate the exposure value of an off-balance-sheet item in the form of unconditionally cancellable commitment by multiplying the percentage provided for in that Article by the following factors: 2. EBA shall prepare a report assessing whether the derogation referred to in paragraph 1, point (a), should be extended beyond 31 December 2032 and specifying, where necessary, the conditions under which that derogation should be maintained. EBA shall submit that report to the European Parliament, to the Council and to the Commission by 31 December 2028. On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS and the impact of those standards on financial stability, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031. Article 495e Transitional arrangements for ECAI credit assessments of institutions By way of derogation from Article 138, point (g), competent authorities may allow institutions to continue using an ECAI credit assessment in relation to an institution which incorporates assumptions of implicit government support until 31 December 2029. Article 495f Transitional arrangements for property revaluation requirements By way of derogation from Article 229(1), points (a) to (d), for exposures secured by residential property or commercial immovable property granted before 1 January 2025, institutions may continue to value residential property or commercial immovable property at or less than the market value, or in those Member States that have provided for rigorous criteria for the assessment of the mortgage lending value in statutory or regulatory provisions, the mortgage lending value of that property, until a review of the property value is required in accordance with Article 208(3), or 31 December 2027, whichever is earlier. Article 495g Transitional arrangements for certain public guarantees schemes By way of derogation from Articles 183(1) and 213(1), a guarantee that can be cancelled in the event of fraud by the obligor or the extent of credit protection of which can be diminished in such event, shall be considered to meet the requirements referred to in Article 183(1), point (d), and in Article 213(1), point (c), where the guarantee was provided by an entity referred to in Article 214(2), point (a), no later than 31 December 2024. Article 495h Transitional arrangements for the use of the alternative internal model approach for market risk By way of derogation from Article 325az(2), point (d), institutions may use, until 1 January 2026, the alternative internal model approach to calculate their own funds requirements for market risk for trading desks that do not meet the requirements laid down in Article 325bg.’ ; 100 % during the period from 1 January 2025 to 31 December 2025; 130 % during the period from 1 January 2026 to 31 December 2026; 160 % during the period from 1 January 2027 to 31 December 2027; 190 % during the period from 1 January 2028 to 31 December 2028; 220 % during the period from 1 January 2029 to 31 December 2029. 100 % during the period from 1 January 2025 to 31 December 2025; 160 % during the period from 1 January 2026 to 31 December 2026; 220 % during the period from 1 January 2027 to 31 December 2027; 280 % during the period from 1 January 2028 to 31 December 2028; 340 % during the period from 1 January 2029 to 31 December 2029. 50 % during the period from 1 January 2025 to 31 December 2027; 80 % during the period from 1 January 2028 to 31 December 2028; 100 % during the period from 1 January 2029 to 31 December 2029. the obligor can meet its financial obligations even under severely stressed conditions due to the presence of all of the following features: adequate exposure-to-value of the exposure; conservative repayment profile of the exposure; commensurate remaining lifetime of the assets upon full pay-out of the exposure or alternatively recourse to a protection provider with high creditworthiness; low refinancing risk of the exposure by the obligor or that risk is adequately mitigated by a commensurate residual asset value or recourse to a protection provider with high creditworthiness; the obligor has contractual restrictions over its activity and funding structure; the obligor uses derivatives only for risk-mitigation purposes; material operating risks are properly managed; the contractual arrangements on the assets provide lenders with a high degree of protection, including the following features: the lenders have a legally enforceable first-ranking right over the assets financed and, where applicable, over the income that they generate; there are contractual restrictions on the ability of the obligor to make changes to the asset which would have a negative impact on its value; where the asset is under construction, the lenders have a legally enforceable first-ranking right over the assets and the underlying construction contracts; the assets being financed meet all of the following standards to operate in a sound and effective manner: the technology and design of the asset are tested; all necessary permits and authorisations for the operation of the assets have been obtained; where the asset is under construction, the obligor has adequate safeguards on the agreed specifications, budget and completion date of the asset, including strong completion guarantees or the involvement of an experienced constructor and adequate contract provisions for liquidated damages. the evolution of the trends and conditions in markets for object finance in the Union; the effective riskiness of the object finance exposures over a full economic cycle; the impact on own funds requirements of the treatment set out in Article 122a(3), point (a), for object finance exposures, without taking into account Article 465(1); the appropriateness of the definition of the sub-class of “high quality object finance” and to assign to that sub-class of exposures a different prudential treatment. 50 % during the period from 1 January 2025 to 31 December 2027; 80 % during the period from 1 January 2028 to 31 December 2028; 100 % during the period from 1 January 2029 to 31 December 2029. 0 % during the period from 1 January 2025 to 31 December 2029; 25 % during the period from 1 January 2030 to 31 December 2030; 50 % during the period from 1 January 2031 to 31 December 2031; 75 % during the period from 1 January 2032 to 31 December 2032.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.