Article 139 | CRR | Regulation 575/2013

Article 139 - Regulation 575/2013 (CRR)

Article 139

Issuer and issue credit assessment

Where a credit assessment exists for a specific issuing programme or facility to which the item constituting the exposure belongs, this credit assessment shall be used to determine the risk weight to be assigned to that item.

Where no directly applicable credit assessment exists for a certain item, but a credit assessment exists for a specific issuing programme or facility to which the item constituting the exposure does not belong or a general credit assessment exists for the issuer, then that credit assessment shall be used in either of the following cases:

(a)

the credit assessment produces a higher risk weight than would be the case if the exposure were treated as unrated and the exposure concerned:

(i)

is not a specialised lending exposure;

(ii)

ranks pari passu or junior in all respects to the specific issuing programme or facility or to senior unsecured exposures of that issuer, as relevant;

(b)

the credit assessment produces a lower risk weight than would be the case if the exposure were treated as unrated and the exposure concerned:

(i)

is not a specialised lending exposure;

(ii)

ranks pari passu or senior in all respects to the specific issuing programme or facility or to senior unsecured exposures of that issuer, as relevant.

In all other cases, the exposure shall be treated as unrated.

Paragraphs 1 and 2 are not to prevent the application of Article 129.

Credit assessments for issuers within a corporate group cannot be used as credit assessment of another issuer within the same corporate group.

PART ONE - GENERAL PROVISIONS (Article 1-24)

PART TWO - OWN FUNDS AND ELIGIBLE LIABILITIES (Article 25-91)

PART THREE - CAPITAL REQUIREMENTS (Article 92-386)

TITLE I - GENERAL REQUIREMENTS, VALUATION AND REPORTING (Article 92-106)

TITLE II - CAPITAL REQUIREMENTS FOR CREDIT RISK (Article 107-311)

CHAPTER 1 - General principles (Article 107-110a)

CHAPTER 2 - Standardised approach (Article 111-141)

Section 1 - General principles (Article 111-113)

Section 2 - Risk weights (Article 114-134)

Section 3 - Recognition and mapping of credit risk assessment (Article 135-137)

Section 4 - Use of the ECAI credit assessments for the determination of risk weights (Article 138-141)Article 138 - General requirements Q&A Article 139 - Issuer and issue credit assessment Q&A Article 140 - Long-term and short-term credit assessments Q&A Article 141 - Domestic and foreign currency items

CHAPTER 3 - Internal Ratings Based Approach (Article 142-191)

CHAPTER 4 - Credit risk mitigation (Article 192-241)

CHAPTER 5 - Securitisation (Article 242-270e)

CHAPTER 6 - Counterparty credit risk (Article 271-311)

TITLE III - OWN FUNDS REQUIREMENT FOR OPERATIONAL RISK (Article 311a-324)

TITLE IV - OWN FUNDS REQUIREMENTS FOR MARKET RISK (Article 325-377)

TITLE V - OWN FUNDS REQUIREMENTS FOR SETTLEMENT RISK (Article 378-380)

TITLE VI - OWN FUNDS REQUIREMENTS FOR CREDIT VALUATION ADJUSTMENT RISK (Article 381-386)

PART FOUR - LARGE EXPOSURES (Article 387-403)

PART FIVE - EXPOSURES TO TRANSFERRED CREDIT RISK (Article 404-410)

PART SIX - LIQUIDITY (Article 411-428az)

PART SEVEN - LEVERAGE (Article 429-429g)

PART SEVEN A - REPORTING REQUIREMENTS (Article 430-430c)

PART EIGHT - DISCLOSURE BY INSTITUTIONS (Article 431-455)

PART NINE - DELEGATED AND IMPLEMENTING ACTS (Article 456-464)

PART TEN - TRANSITIONAL PROVISIONS, REPORTS, REVIEWS AND AMENDMENTS (Article 465-520)

PART ELEVEN - FINAL PROVISIONS (Article 521)

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Article 139 - Regulation 575/2013 (CRR)

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