Legal provisions of COM(2025)146 - Amendment of Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio

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dossier COM(2025)146 - Amendment of Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for ...
document COM(2025)146 EN
date March 31, 2025

Contents

Article 1 - Amendments to Regulation (EU) No 575/2013

Article 510 of Regulation (EU) No 575/2013 is amended as follows:

(1) paragraph 6 is amended as follows:

(a)the first subparagraph is replaced by the following:

‘The EBA shall monitor the amount of stable funding required to cover the funding risk linked to securities financing transactions, including the assets received or given in those transactions, and to unsecured transactions, with financial customers, where such transactions have a residual maturity of less than six months. The EBA shall report to the Commission by 31 January 2029, and every five years thereafter, on the appropriateness of that requirement. Taking into account international developments and the regulatory treatment of similar transactions in other jurisdictions, the reports shall assess at a minimum:’;

(b)points (d) and (e) are replaced by the following:

‘(d)the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with Article 428r(1), point (g), Article 428s(1), point (b), and Article 428v, point (a);

(e)the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months, with financial customers, on:

(i)the price structure of those transactions; and

(ii)the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’;

(2) paragraphs 7 and 8 are deleted.

Article 2 - Entry into force and application

This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.

This Regulation shall apply from 29 June 2025.

This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.