- Question ID
-
2025_7583
- Legal act
- Regulation (EU) No 575/2013 (CRR)
- Topic
- Supervisory reporting - COREP (incl. IP Losses)
- Article
-
47c
- Paragraph
-
1
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Regulation (EU) 2024/3117 - ITS on supervisory reporting of institutions
- Article/Paragraph
-
7
- Type of submitter
-
Credit institution
- Subject matter
-
Clarification on the term “fully and completely secured by mortgages” in Article 47c(1) in the context of Non-Performing Exposures (NPEs).
- Question
-
Within the context of Article 47c(1), how should the “secured” part of a non-performing exposure be interpreted, given that the term “fully and completely secured by mortgages” is no longer defined in Title II of Part Three?
- Background on the question
-
Article 47c(1) states that “the secured part of a non-performing exposure is that part of the exposure which, for the purpose of calculating own funds requirements pursuant to Title II of Part Three, is considered to be covered by a funded credit protection or unfunded credit protection or fully and completely secured by mortgages.”
Under CRR II, an exposure was considered as “fully and completely secured by mortgages”, if it met the conditions laid down in points (a) to (d) of Article 125(2), or points (a) to (d) of Article 126(2), in relation to exposures secured by mortgages on residential and commercial immovable property, respectively.
However, CRR III no longer specifies these conditions within Title II of Part Three. Clarity is therefore being sought on what should be considered as the “secured” part of a non-performing exposure, given that the term “fully and completely secured by mortgages” is still included in Article 47c(1).
- Submission date
- Rejected publishing date
-
- Rationale for rejection
-
This question has been rejected because the matter it refers to is the same as Q&A 2025_7503
- Status
-
Rejected question
