EBA · 2022_6634 Rejected question

Debt securities issued by corporate treasury entities

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
416, para. 1
Topic
Liquidity risk
Submitted by
Credit institution
Submitted
2022-11-11
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Question

Can debt securities issued by corporate treasuries organised in separate legal entities be classified as “corporate debt securities” for the purpose of Delegated Regulation (EU) 2015/61?

Background

Many large non-financial corporations have their treasury organised in a separate legal entity. These corporate treasuries issue financial instruments (e.g. debt securities) and provide loans to the corporate. The issued financial instruments are guaranteed by the non-financial corporation on an instrument by instrument basis. The counterparty classification for liquidity reporting of the individual legal entity is “financial customer”, also refer to EBA Q&A  2016_2793,   because the activities of the individual entity are listed in Annex I to Directive 2013/36/EU. The question is whether issued debt securities from these type of corporate treasuries can be classified as “corporate debt securities” mentioned in the Delegated Regulation (EU) 2015/61?
No answer published yet.

Original source: European Banking Authority, Q&A ID 2022_6634

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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