- Question ID
-
2013_68
- Legal act
- Regulation (EU) No 575/2013 (CRR)
- Topic
- Securitisation and Covered Bonds
- Article
-
337
- Paragraph
-
5
- Subparagraph
-
2
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Not applicable
- Article/Paragraph
-
N/A
- Type of submitter
-
Competent authority
- Subject matter
-
Impact of the significant risk transfer on the own funds requirement against specific risk in case of synthetic securitisations in the trading book
- Question
-
May an originator institution of a synthetic securitisation where the securitised exposures are held in the institution’s trading book and the conditions for significant risk transfer in Article 244 are met exclude the securitised exposures and instead only include the securitisation positions resulting from the credit protection obtained in the calculation of its own funds requirement against specific risk?
- Background on the question
-
As Article 337(5) subparagraph 2 only refers to the case where an originator institution does not meet the conditions for significant risk transfer in Article 244 the question arises whether fulfilment of the conditions for significant risk transfer in Article 244 by an originator institution of a synthetic securitisation has any impact on the calculation of the originator institution’s own funds requirement for specific risk.
- Submission date
- Rejected publishing date
-
- Rationale for rejection
-
Please note that as part of adjustments to the Single Rulebook Q&A process, agreed by the EBA and the European Commission, it has been decided to reject outstanding questions submitted before 1 January 2020, when the Q&A process was updated as part of the last ESAs Review. In particular, the question that you have submitted has now regrettably been rejected and will not be addressed.
If you believe your question would still benefit from clarification, you are invited to resubmit your question, adapting it to reflect any legislative, regulatory or other relevant developments that may have occurred since the initial date of submission. The EBA will aim to address resubmitted questions as a matter of priority. When considering to resubmit, you are kindly requested to observe the updated admissibility criteria agreed in the context of the adjustment of the Q&A process, available in the Additional background and guidance for asking questions. We hope for your understanding.
For further information please refer to the press release and the updated Q&A page.
- Status
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Rejected question