# Commission Implementing Regulation (EU) No 945/2014Show full title

Commission Implementing Regulation (EU) No 945/2014 of 4 September 2014 laying down implementing technical standards with            regard to relevant appropriately diversified indices according to Regulation (EU) No 575/2013 of the European Parliament and            of the Council (Text with EEA relevance)         

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U.K.

# Commission Implementing Regulation (EU) No 945/2014                     

# of 4 September 2014

# laying down implementing technical standards with regard to relevant appropriately diversified indices according to Regulation                        (EU) No 575/2013 of the European Parliament and of the Council                     

# (Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements                           for credit institutions and investment firms and amending Regulation (EU) No 648/2012(1) and in particular the third subparagraph of Article 344(1) thereof,                        

Whereas:

(1)Pursuant to Article 344(4) of Regulation (EU) No 575/2013, the specific risk of a stock-index future which would be treated                              as an individual equity in accordance with that Article can be ignored where the relevant stock-index is exchange traded and                              represents a relevant appropriately diversified index.

(2)Where an exchange traded stock-index future is appropriately diversified, it can be assumed that such stock-index represents                              no specific risk. This is considered to be the case where the index contains at least 20 equities, no single entity contained                              within them represents more than 25 % of the total index and 10 % of the largest equities (rounding up the number of equities                              to the superior natural number) represent less than 60 % of the total index. In addition, the index must encompass equities                              from at least a national market, and they must comprise equities from at least four industries amongst oil and gas, basic                              materials, industrials, consumer goods, health care, consumer services, telecommunications, utilities, financials and technology.

(3)Given that Article 344(4) of Regulation (EU) No 575/2013 refers to ‘relevant’ eligible indices, only those stock indices which                              are relevant for financial institutions in the Union have been assessed against the criteria for identifying eligible stock                              indices.

(4)This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority to the                              Commission.

(5)The European Banking Authority has conducted open public consultations on the draft implementing technical standards on which                              this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder                              Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council(2),

HAS ADOPTED THIS REGULATION:

## Article 1U.K.Stock indices for the purposes of Article 344 of Regulation (EU) No 575/2013

The list of stock indices, for which the treatments set out in the second sentence of Article 344(4) of Regulation (EU) No 575/2013                     is available, are provided in the Annex.                  

## Article 2U.K.Entry into Force

This Regulation shall enter into force on the twentieth day following that of its publication in the *Official Journal of the European Union*.                  

This Regulation shall be binding in its entirety and directly applicable in all Member States.

## [F1ANNEXU.K.**Stock indices meeting the requirements of Article 344 of Regulation (EU) No 575/2013**

Textual Amendments

F1Substituted by Commission Implementing Regulation (EU) 2020/125 of 29 January 2020 amending Implementing Regulation (EU) No 945/2014 laying                                 down implementing technical standards with regard to relevant appropriately diversified indices in accordance with Regulation                                 (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance).

1

OJ L 176, 27.6.2013, p. 1.                           

2

OJ L 331, 15.12.2010, p. 12.