2013_672 Large Exposures – Disclosure of counterparty names

Question ID:

2013_672

Legal Act:

Regulation (EU) No 575/2013 (CRR)

Topic:

Large exposures

Article:

394

Paragraph:

1(a), 2(a)

COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:

Not applicable

Article/Paragraph:

394

Disclose name of institution / entity:

Type of submitter:

Credit institution

Subject Matter:

Large Exposures – Disclosure of counterparty names

Question:

Where the credit institution does not have consent to disclose the clients names, what should it report here?

Background on the question:

Due to sensitivity and local privacy rules.

Date of submission:

18/12/2013

Published as Final Q&A:

11/04/2014

Final Answer:

Article 394(1)(a) and (2)(a) of Regulation (EU) No. 575/2013 requires to report the ~~identification~~ identity of the client or the group of connected clients to which an institution has a large exposure to their competent authorities. This requires institutions to report certain information regarding large exposures to their competent authorities, which are bound by professional secrecy as required by Article 53 of Directive 2013/36/EU. This does not constitute a disclosure requirement.

Status:

Final Q&A

Answer prepared by:

Answer prepared by the EBA.

Note to Q&A:

Update 26.03.2021: This Q&A has been updated in the light of the changes introduced to Regulation (EU) No 575/2013 (CRR).