Article 11 | Delegated Regulation 625/2014 | judict

Updated 21/11/2024

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No longer in force since 06/11/2023

Version from: 28/10/2015

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CRR Tool Delegated Regulation 625/2014

Article 11

Article 11 - Measurement of retention for the undrawn amounts in exposures in the form of credit facilities

Article 11

Measurement of retention for the undrawn amounts in exposures in the form of credit facilities

The calculation of the net economic interest to be retained for credit facilities, including credit cards, shall be based only on amounts already drawn, realised or received and shall be adjusted in accordance with changes to those amounts.

Table of contents

CHAPTER I - DEFINITIONS AND EXPOSURE TO THE RISK OF A SECURITISATION (Article 1)

CHAPTER II - EXPOSURE TO THE CREDIT RISK OF A SECURITISATION POSITION (Article 2)

CHAPTER III - RETENTION OF NET ECONOMIC INTEREST (Article 3-14)Article 3 - Retainers of material net economic interest Article 4 - Fulfilment of the retention requirement through a synthetic or contingent form of retention Article 5 - Retention option (a): pro rata retention in each of the tranches sold or transferred to investors Q&A Article 6 - Retention option (b): retention of the originator's interest for revolving exposures Article 7 - Retention option (c): retention of randomly selected exposures Article 8 - Retention option (d): retention of the first loss tranche Article 9 - Retention option (e): retention of a first loss in every securitised exposure Article 10 - Measurement of the level of retention Article 11 - Measurement of retention for the undrawn amounts in exposures in the form of credit facilities Article 12 - Prohibition of hedging or selling the retained interest Article 13 - Exemptions to Article 405(1) of Regulation (EU) No 575/2013 Article 14 - Retention on a consolidated basis

CHAPTER IV - DUE DILIGENCE REQUIREMENTS FOR INSTITUTIONS BECOMING EXPOSED TO A SECURITISATION POSITION (Article 15-20)

CHAPTER V - REQUIREMENTS FOR ORIGINATORS, SPONSORS AND ORIGINAL LENDERS (Article 21-23)

CHAPTER VI - FINAL PROVISIONS (Article 24)