Article 495d
Transitional arrangements for unconditional cancellable commitments
1.
By way of derogation from Article 111(2), institutions shall calculate the exposure value of an off-balance-sheet item in the form of unconditionally cancellable commitment by multiplying the percentage provided for in that Article by the following factors:
(a)
0 % during the period from 1 January 2025 to 31 December 2029;
(b)
25 % during the period from 1 January 2030 to 31 December 2030;
(c)
50 % during the period from 1 January 2031 to 31 December 2031;
(d)
75 % during the period from 1 January 2032 to 31 December 2032.
2.
EBA shall prepare a report assessing whether the derogation referred to in paragraph 1, point (a), should be extended beyond 31 December 2032 and specifying, where necessary, the conditions under which that derogation should be maintained.
EBA shall submit that report to the European Parliament, to the Council and to the Commission by 31 December 2028.
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS and the impact of those standards on financial stability, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.