- Question ID
-
2025_7511
- Legal act
- Regulation (EU) No 575/2013 (CRR)
- Topic
- Credit risk
- Article
-
107, 120,121
- Paragraph
-
3
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Not applicable
- Article/Paragraph
-
N/A
- Type of submitter
-
Credit institution
- Subject matter
-
Exposures to EU exchanges
- Question
-
Should exposures to EU exchanges be treated as exposures to institutions, under articles 119, 120 and 121?
- Background on the question
-
Article 107.3 clearly specifies that exposures to third-country exchanges shall be treated as exposures to an institution only if the third country applies prudential and supervisory requirements to that entity that are at least equivalent to those applied in the Union.
However, the specific case of exposures to exchanges in the EU is not expressly clarified in the regulation. This can lead to 2 possible interpretations:
-
Exposures to EU exchanges shall be treated as exposures to corporates, as opposed to equivalent third-country exchanges
-
Exposures to EU exchanges shall be treated as exposures to institutions, like third-country exchanges
-
- Submission date
- Rejected publishing date
-
- Rationale for rejection
-
This question is already addressed by Q&A 2013_677 (cat.1), which clarifies that exposures to recognised exchanges established in the EU may only be treated as exposures to institutions if the conditions in Article 119(5) CRR are met. Accordingly, this submission can be rejected as it is already covered.
- Status
-
Rejected question