EBA · 2013_131 Final Q&A

Large exposures: Definitions of ‘institutions’ for the purpose of the LE reporting

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
394, para. 4
Topic
Supervisory reporting - Large Exposures
Submitted by
Credit institution
Submitted
2013-08-07
Answered
2014-02-14
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

‘Investment funds’ is not a defined term within Article 4 of Regulation (EU) No 575/2013.

Background

Paragraph 3 (13) - ANNEX IX - REPORTING ON LARGE EXPOSURES of EBA's Draft ITS on Supervisory Reporting states: ‘Institutions’ shall include credit institutions and investment funds according to Article 4 of Regulation (EU) No 575/2013 and, for the purposes of this reporting, shall mean any private or public undertaking, including its branches, which has been authorised in a third country that applies prudential supervisory and regulatory requirements at least equivalent to those applied in the European Union.

Answer

The expression "investment funds " in Annex IX. Part 2, paragraph 13 of the Regulation (EU) No 680/2014 13 ITS on supervisory reporting of institutionsDraft ITS on Supervisory reporting is a misprint. Taking into account Article 4.1(3) of the Regulation (EU) No 575/2013, the correct wording shall be: 18Institutions 19 shall include credit institutions and investment firms according to Article 4 of Regulation (EU) No 575/2013 and, for the purposes of this reporting, shall mean any private or public undertaking, including its branches, which has been authorised in a third country that applies prudential supervisory and regulatory requirements at least equivalent to those applied in the European Union. A correction will be published at the next opportunity.   *As of 1/8/2014 the content of this answer was modified to reflect the publication of the final ITS on supervisory reporting of institutions in the Official Journal of the European Union. As a result, the references to the ITS were updated and the disclaimer deleted. For reasons of transparency, revisions are highlighted in track changes.

Original source: European Banking Authority, Q&A ID 2013_131

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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