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Commission Delegated Regulation (EU) No 625/2014Show full title

Commission Delegated Regulation (EU) No 625/2014 of 13 March 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council by way of regulatory technical standards specifying the requirements for investor, sponsor, original lender and originator institutions relating to exposures to transferred credit risk (Text with EEA relevance)

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Commission Delegated Regulation (EU) No 625/2014 is up to date with all changes known to be in force on or before 30 April 2024. There are changes that may be brought into force at a future date. Help about Changes to Legislation

EUR 2014 No. 625 may be subject to amendment by EU Exit Instruments made by both the Prudential Regulation Authority and the Financial Conduct Authority under powers set out in The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 4. These amendments are not currently available on legislation.gov.uk. Details of relevant amending instruments can be found on their website/s.

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Changes and effects yet to be applied to :

  1. Introductory Text

  2. CHAPTER I DEFINITIONS AND EXPOSURE TO THE RISK OF A SECURITISATION

    1. Article 1.Definitions

  3. CHAPTER II EXPOSURE TO THE CREDIT RISK OF A SECURITISATION POSITION

    1. Article 2.Particular cases of exposure to the credit risk of a securitisation position

  4. CHAPTER III RETENTION OF NET ECONOMIC INTEREST

    1. Article 3.Retainers of material net economic interest

    2. Article 4.Fulfilment of the retention requirement through a synthetic or contingent form of retention

    3. Article 5.Retention option (a): pro rata retention in each of the tranches sold or transferred to investors

    4. Article 6.Retention option (b): retention of the originator's interest for revolving exposures

    5. Article 7.Retention option (c): retention of randomly selected exposures

    6. Article 8.Retention option (d): retention of the first loss tranche

    7. Article 9.Retention option (e): retention of a first loss in every securitised exposure

    8. Article 10.Measurement of the level of retention

    9. Article 11.Measurement of retention for the undrawn amounts in exposures in the form of credit facilities

    10. Article 12.Prohibition of hedging or selling the retained interest

    11. Article 13.Exemptions to Article 405(1) of Regulation (EU) No 575/2013

    12. Article 14.Retention on a consolidated basis

  5. CHAPTER IV DUE DILIGENCE REQUIREMENTS FOR INSTITUTIONS BECOMING EXPOSED TO A SECURITISATION POSITION

    1. Article 15.Outsourcing and other general considerations

    2. Article 16.Specification of risk characteristics and structural features

    3. Article 17.Frequency of review

    4. Article 18.Stress Tests

    5. Article 19.Exposures in the trading book and non-trading book

    6. Article 20.Positions in the correlation trading portfolio

  6. CHAPTER V REQUIREMENTS FOR ORIGINATORS, SPONSORS AND ORIGINAL LENDERS

    1. Article 21.Policies for credit granting

    2. Article 22.Disclosure of the level of the commitment to maintain a net economic interest

    3. Article 23.Disclosure of materially relevant data

  7. CHAPTER VI FINAL PROVISIONS

    1. Article 24.Entry into force

  8. Signature

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