Directive 2013/36/EU Regulation (EU) No 575/2013 LCR delegated regulation (EU) 2015/61 Adressee Scope Denomination Description of the option or discretion Exercised (Y/N/NA) (1) National text (2) Reference(s) (3) Available in EN (Y/N) Details / Comments

010 Date of the last update of information in this template (dd/mm/yyyy)

020 Article 9(2) Member States Credit Institutions Exception to the prohibition against persons or undertakings other than credit institutions from taking deposits or other repayable funds from the public The prohibition against persons or undertakings other than credit institutions from carrying out the business of taking deposits or other repayable funds from the public shall not apply to a Member State, a Member State's regional or local authorities, a public international bodies of which one or more Member States are members, or to cases expressly covered by national or union law, provided that those activities are subject to regulations and controls intended to protect depositors and investors. [Y/N/NA] Mandatory if Y Mandatory if Y

030 Article 12(3) Member States Credit Institutions Initial capital Member States may decide that credit institutions which do not fulfil the requirements to hold separate own funds and which were in existence on 15 December 1979 may continue to carry out their business. [Y/N/NA] Mandatory if Y Mandatory if Y

040 Article 12(3) Member States Credit Institutions Initial capital Credit Institutions for which Member States have decided that they can continue to carry out their business according to Article 12(3) of Directive 2013/36/EU may be exempted by MS from complying with the requirements contained in the first subparagraph of Article 13(1) of Directive 2013/36/EU. [Y/N/NA] Mandatory if Y Mandatory if Y

050 Article 12(4) Member States Credit Institutions Initial capital Member States may grant authorisation to particular categories of credit institutions the initial capital of which is less that EUR 5 million, provided that the initial capital is not less than EUR 1 million and the Member State concerned notifies the Commission and EBA of its reasons for exercising that option. [Y/N/NA] Mandatory if Y Mandatory if Y

060 Article 21(1) Competent Authorities Credit Institutions Exemptions for credit institutions permanently affiliated to a central body Competent authorities may exempt with regard to credit institutions permanently affiliated to a central body from the requirements set out in Articles 10, 12 and 13(1) of Directive 2013/36/EU. [Y/N/NA] Mandatory if Y Mandatory if Y

070 Article 29(3) Member States Investment Firms Initial capital of particular types of investment firms Member States may reduce the minimum amount of initial capital from EUR 125 000 to EUR 50 000 where a firm is not authorised to hold client money or securities, to deal for its own account, or to underwrite issues on a firm commitment basis. [Y/N/NA] Mandatory if Y Mandatory if Y

080 Article 32(1) Member States Investment Firms Investment firms' initial capital grandfathering clause Member States may continue authorising investment firm and firms covered by Article 30 of Directive 2013/36/EU which were in existence on or before 31 December 1995, the own funds of which are less than the initial capital levels specified for them in Article 28(2), Article 29(1) or (3) or Article 30 of that Directive. [Y/N/NA] Mandatory if Y Mandatory if Y

090 Article 40 Competent Authorities Credit Institutions Reporting requirements to host competent authorities The competent authorities of host Member States may, for information, statistical or supervisory purposes, require that all credit institutions having branches within their territories shall report to them periodically on their activities in those host Member States, in particular to assess whether a branch is significant in accordance with Article 51(1) of Directive 2013/36/EU. [Y/N/NA] Mandatory if Y Mandatory if Y

100 Article 129(2) Member States Investment Firms Exemption from the requirement to maintain a capital conservation buffer for small and medium-sized investment firms By way of derogation from paragraph 1 of Article 129, a Member State may exempt small and medium-sized investment firms from the requirements set out in that paragraph if such an exemption does not threaten the stability of the financial system of that Member State. [Y/N/NA] Mandatory if Y Mandatory if Y

110 Article 130(2) Member States Investment Firms Exemption from the requirement to maintain a countercyclical capital buffer for small and medium-sized investment firms By way of derogation from paragraph 1 of Article 130, a Member State may exempt small and medium-sized investment firms from the requirements set out in that paragraph if such an exemption does not threaten the stability of the financial system of that Member State. [Y/N/NA] Mandatory if Y Mandatory if Y

120 Article 133(18) Member States Credit Institutions and Investment firms Requirement to maintain a systemic risk buffer Member States may apply a systemic risk buffer to all exposures. [Y/N/NA] Mandatory if Y Mandatory if Y

130 Article 134(1) Member States Credit Institutions and Investment firms Recognition of a systemic risk buffer rate Other Member States may recognise the systemic risk buffer rate set according to Article 133 and may apply that buffer rate to domestically authorised institutions for the exposures located in the Member State setting that buffer rate. [Y/N/NA] Mandatory if Y Mandatory if Y

140 Article 152 first paragraph Member Stattes Credit Institutions Reporting requirements to host competent authorities The competent authorities of host Member States may, for statistical purposes, require that all credit institutions having branches within their territories shall report to them periodically on their activities in those host Member States. [Y/N/NA] Mandatory if Y Mandatory if Y

150 Article 152 second paragraph Member States Credit Institutions Reporting requirements to host competent authorities Host Member States may require that branches of credit institutions from other Member States provide the same information as they require from national credit institutions for that purpose. [Y/N/NA] Mandatory if Y Mandatory if Y

160 Article 160(6) Member States Credit Institutions and Investment firms Transitional provisions for capital buffers Member States may impose a shorter transitional period for capital buffers than that specified in paragraphs 1 to 4 of Article 160. Such a shorter transitional period may be recognised by other Member States. [Y/N/NA] Mandatory if Y Mandatory if Y

170 Article 4(2) Member States or Competent Authorities Credit Institutions and Investment firms Treatment of indirect holdings in real estate Member States or their competent authorities may allow shares constituting an equivalent indirect holding of immovable property to be treated as a direct holding of immovable property provided that such indirect holding is specifically regulated in the national law of the Member State and, when pledged as collateral, provides equivalent protection to creditors. [Y/N/NA] Mandatory if Y Mandatory if Y

180 Article 6(4) Competent Authorities Investment Firms Application of requirements on an individual basis Pending the report from the Commission in accordance with Article 508(3), competent authorities may exempt investment firms from compliance with the obligations laid down in Part Six (liquidity) taking into account the nature, scale and complexity of the investment firms' activities. [Y/N/NA] Mandatory if Y Mandatory if Y

190 Article 24(2) Reporting and the compulsory use of IFRS Competent authorities may require that institutions effect the valuation of assets and off-balance sheet items and the determination of own funds in accordance with International Accounting Standards as applicable under Regulation (EC) No 1606/2002). [Y/N/NA] Mandatory if Y Mandatory if Y

200 Article 89(3) Competent Authorities Credit Institutions and Investment firms Risk weighting and prohibition of qualifying holdings outside the financial sector Competent authorities apply the following requirements to qualifying holdings of institutions referred to in paragraphs 1 and 2: for the purpose of calculating the capital requirement in accordance with Part Three of this Regulation, institutions shall apply a risk weight of 1 250 % to the greater of the following: (i) the amount of qualifying holdings referred to in paragraph 1 in excess of 15 % of eligible capital; (ii) the total amount of qualifying holdings referred to in paragraph 2 that exceed 60 % of the eligible capital of the institution; [Y/N/NA] Mandatory if Y Mandatory if Y

201 Article 89(3) Competent Authorities Credit Institutions and Investment firms Risk weighting and prohibition of qualifying holdings outside the financial sector Competent authorities apply the following requirements to qualifying holdings of institutions referred to in paragraphs 1 and 2: the competent authorities shall prohibit institutions from having qualifying holdings referred to in paragraphs 1 and 2 the amount of which exceeds the percentages of eligible capital laid down in those paragraphs. [Y/N/NA] Mandatory if Y Mandatory if Y

210 Article 95(2) Competent Authorities Investment Firms Requirements for investment firms with limited authorisation to provide investment services Competent authorities may set the own fund requirements for investment firms with limited authorisation to provide investment services as the own fund requirements that would be binding on those firms according to the national transposition measures in force on 31 December 2013 for Directive 2006/49/EC and Directive 2006/48/EC. [Y/N/NA] Mandatory if Y Mandatory if Y

220 Article 99(3) Competent Authorities Credit Institutions Reporting on own funds requirements and financial information Competent authorities may require those credit institutions applying international accounting standards as applicable under Regulation (EC) No 1606/2002 for the reporting of own funds on a consolidated basis pursuant to Article 24(2) of this Regulation to also report financial information as laid down in paragraph 2 of this Article. [Y/N/NA] Mandatory if Y Mandatory if Y

230 Article 124(2) Competent Authorities Credit Institutions and Investment firms Risk weights and criteria applied to exposures secured by mortgages on immovable property Competent authorities may set a higher risk weight or stricter criteria than those set out in Article 125(2) and Article 126(2), where appropriate, on the basis of financial stability considerations. [Y/N/NA] Mandatory if Y Mandatory if Y

240 Article 129(1) Exposures in the form of covered bonds The competent authorities may, after consulting EBA, partly waive the application of point (c) of the first subparagraph and allow credit quality step 2 for up to 10 % of the total exposure of the nominal amount of outstanding covered bonds of the issuing institution, provided that significant potential concentration problems in the Member States concerned can be documented due to the application of the credit quality step 1 requirement referred to in that point. [Y/N/NA] Mandatory if Y Mandatory if Y

250 Article 164(5) Competent Authorities Credit Institutions and Investment firms Minimum values of exposure weighted average Loss Given Default (LGD) for exposures secured by property Based on the data collected under Article 101 and taking into account forward-looking immovable property market developments and any other relevant indicators, the competent authorities shall periodically, and at least annually, assess whether the minimum LGD values in paragraph 4 of this Article are appropriate for exposures secured by residential property or commercial immovable property located in their territory. Competent authorities may, where appropriate on the basis of financial stability considerations, set higher minimum values of exposure weighted average LGD for exposures secured by immovable property in their territory. [Y/N/NA] Mandatory if Y Mandatory if Y

260 Article 178(1)(b) Competent Authorities Credit Institutions and Investment firms Default of an obligor Competent authorities may replace the 90 days with 180 days for exposures secured by residential property or SME commercial immovable property in the retail exposure class, as well as exposures to public sector entities. [Y/N/NA] Mandatory if Y Mandatory if Y

270 Article 284(4) Competent Authorities Credit Institutions and Investment firms Exposure value Competent authorities may require an α higher than 1.4 or permit institutions to use their own estimates in accordance with Article 284 (9) [Y/N/NA] Mandatory if Y Mandatory if Y

280 Article 284(9) Competent Authorities Credit Institutions and Investment firms Exposure value Competent authorities may permit institutions to use their own estimates of alpha [Y/N/NA] Mandatory if Y Mandatory if Y

290 Article 327(2) Competent Authorities Credit Institutions and Investment firms Netting between a convertible and an offsetting position in the underlying instrument Competent authorities may adopt an approach under which the likelihood of a particular convertible's being converted is taken into account or require an own funds requirement to cover any loss which conversion might entail. [Y/N/NA] Mandatory if Y Mandatory if Y

300 Article 395(1) Competent Authorities Competent Authorities Large exposure limits for exposures to institutions Competent authorities may set a lower large exposure limit than EUR 150 000 000 for exposures to institutions. [Y/N/NA] Mandatory if Y Mandatory if Y

310 Article 400(2)(a) 493(3)(a) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt covered bonds falling within the terms of Article 129(1), (3) and (6). [Y/N/NA] Mandatory if Y Mandatory if Y

320 Article 400(2)(b) 493(3)(b) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt asset items constituting claims on regional governments or local authorities of Member States. [Y/N/NA] Mandatory if Y Mandatory if Y

330 Article 400(2)(c) 493(3)(c) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures incurred by an institution to its parent undertaking or subsidiaries. [Y/N/NA] Mandatory if Y Mandatory if Y

340 Article 400(2)(d) 493(3)(d) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures to regional or central credit institutions with which the credit institution is associated in a network and which are responsible for cash-clearing operations within the network. [Y/N/NA] Mandatory if Y Mandatory if Y

350 Article 400(2)(e) 493(3)(e) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures to credit institutions incurred by credit institutions, one of which operates on a non-competitive basis and provides or guarantees loans under legislative programmes or its statutes, to promote specified sectors of the economy under some form of government oversight and restrictions on the use of the loans, provided that the respective exposures arise from such loans that are passed on to the beneficiaries via credit institutions or from the guarantees of these loans. [Y/N/NA] Mandatory if Y Mandatory if Y

360 Article 400(2)(f) 493(3)(f) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures to institutions, provided that those exposures do not constitute such institutions' own funds, do not last longer than the following business day and are not denominated in a major trading currency. [Y/N/NA] Mandatory if Y Mandatory if Y

370 Article 400(2)(g) 493(3)(g) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures to central banks in the form of required minimum reserves held at those central banks which are denominated in their national currencies. [Y/N/NA] Mandatory if Y Mandatory if Y

380 Article 400(2)(h) 493(3)(h) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt exposures to central governments in the form of statutory liquidity requirements held in government securities which are denominated and funded in their national currencies provided that, at the discretion of the competent authority, the credit assessment of those central governments assigned by a nominated External Credit Assessment Institution is investment grade. [Y/N/NA] Mandatory if Y Mandatory if Y

390 Article 400(2)(i) 493(3)(i) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt 50 % of medium/low risk off-balance sheet documentary credits and of medium/low risk off-balance sheet undrawn credit facilities referred to in Annex I and subject to the competent authorities' agreement, 80 % of guarantees other than loan guarantees which have a legal or regulatory basis and are given for their members by mutual guarantee schemes possessing the status of credit institutions. [Y/N/NA] Mandatory if Y Mandatory if Y

400 Article 400(2)(j) 493(3)(j) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt legally required guarantees used when a mortgage loan financed by issuing mortgage bonds is paid to the mortgage borrower before the final registration of the mortgage in the land register, provided that the guarantee is not used as reducing the risk in calculating the risk-weighted exposure amounts. [Y/N/NA] Mandatory if Y Mandatory if Y

410 Article 400(2)(k) 493(3)(k) Competent Authorities Competent Authorities Exemptions or partial exemptions to large exposures limits Competent authorities may fully or partially exempt assets items constituting claims on and other exposures to recognised exchanges. [Y/N/NA] Mandatory if Y Mandatory if Y

420 Article 412(5) Member States Credit Institutions Liquidity coverage requirement Member States may maintain or introduce national provisions in the area of liquidity requirements before binding minimum standards for liquidity coverage requirements are specified and fully introduced in the Union in accordance with Article 460. [Y/N/NA] Mandatory if Y Mandatory if Y

430 Article 412(5) Member States or Competent Authorities Credit Institutions Liquidity coverage requirement Member states or competent authorities may require domestically authorised institutions, or a subset of those institutions to maintain a higher liquidity coverage requirement up to 100 % until the binding minimum standard is fully introduced at a rate of 100 % in accordance with Article 460. [Y/N/NA] Mandatory if Y Mandatory if Y

440 Article 413(3) Member States Credit Institutions Stable funding requirement Member States may maintain or introduce national provisions in the area of stable funding requirements before binding minimum standards for net stable funding requirements are specified and introduced in the Union in accordance with Article 510. [Y/N/NA] Mandatory if Y Mandatory if Y

450 Article 415(3) Competent Authorities Credit Institutions Liquidity reporting requirements Competent authorities may continue to collect information through monitoring tools for the purpose of monitoring compliance with existing national liquidity standards, until the full introduction of binding liquidity requirements. [Y/N/NA] Mandatory if Y Mandatory if Y

460 Article 420(2) Competent Authorities Credit Institutions Liquidity outflow rate The competent authorities may apply an outflow rate up to 5 % for trade finance off-balance sheet related products, as referred to in Article 429 and Annex 1. [Y/N/NA] Mandatory if Y Mandatory if Y

470 Article 467(2) Competent Authorities Credit Institutions and Investment firms Transitional treatment of unrealised losses measured at fair value By way of derogation from paragraph 1 of Article 467, the competent authorities may, in cases where such treatment was applied before 1 January 2014, allow institutions not to include in any element of own funds unrealised gains or losses on exposures to central governments classified in the ‘Available for Sale’ category of EU-endorsed IAS 39. [Y/N/NA] Mandatory if Y Mandatory if Y

480 Article 467(3) second subparagraph Competent Authorities Credit Institutions and Investment firms Transitional treatment of unrealised losses measured at fair value Competent authorities shall determine and publish the applicable percentage in the ranges specified in points (a) to (d) of paragraph 2 of Article 467. [Y/N/NA] Mandatory if Y Mandatory if Y

490 Article 468(2) Competent Authorities Credit Institutions and Investment firms Transitional treatment of unrealised gains measured at fair value Competent authorities may permit institutions to include in the calculation of their Common Equity Tier 1 capital 100 % of their unrealised gains at fair value where under Article 467 institutions are required to include their unrealised losses measured at fair value in the calculation of Common Equity Tier 1 capital. [Y/N/NA] Mandatory if Y Mandatory if Y

500 Article 468(3) Competent Authorities Credit Institutions and Investment firms Transitional treatment of unrealised gains measured at fair value Competent authorities shall determine and publish the applicable percentage of unrealised gains in the ranges specified in points (a) to (c) of paragraph 2 of Article 468 that is removed from Common Equity Tier 1 capital. [Y/N/NA] Mandatory if Y Mandatory if Y

510 Article 471(1) Competent Authorities Credit Institutions and Investment firms Exemption from deduction of equity holding in insurance companies from CET1 items By way of derogation from Article 49(1), during the period from 1 January 2014 to 31 December 2022, competent authorities may permit institutions to not deduct equity holdings in insurance undertakings, reinsurance undertakings and insurance holding companies where the conditions set out in paragraph 1 of Article 471 are met. [Y/N/NA] Mandatory if Y Mandatory if Y

520 Article 473(1) Competent Authorities Credit Institutions and Investment firms Introduction of amendments to IAS 19 By way of derogation from Article 481 during the period from 1 January 2014 until 31 December 2018, competent authorities may permit institutions that prepare their accounts in conformity with the international accounting standards adopted in accordance with the procedure laid down in Article 6(2) of Regulation (EC) No 1606/2002 to add to their Common Equity Tier 1 capital the applicable amount in accordance with paragraph 2 or 3 of Article 473, as applicable, multiplied by the factor applied in accordance with paragraph 4 of Article 473. [Y/N/NA] Mandatory if Y Mandatory if Y

530 Article 478(3) Competent Authorities Credit Institutions and Investment firms Transitional deductions from Common Equity Tier 1, Additional Tier 1 and Tier 2 items Competent authorities shall determine and publish an applicable percentage in the ranges specified in paragraphs 1 and 2 of Article 478 for each of the following deductions: (a) the individual deductions required pursuant to points (a) to (h) of Article 36(1), excluding deferred tax assets that rely on future profitability and arise from temporary differences; (b) the aggregate amount of deferred tax assets that rely on future profitability and arise from temporary differences and the items referred to in point (i) of Article 36(1) that is required to be deducted pursuant to Article 48; (c) each deduction required pursuant to points (b) to (d) of Article 56; (d) each deduction required pursuant to points (b) to (d) of Article 66. [Y/N/NA] Mandatory if Y Mandatory if Y

540 Article 479(4) Competent Authorities Credit Institutions and Investment firms Transitional recognition in consolidated Common Equity Tier 1 capital of instruments and items that do not qualify as minority interests Competent authorities shall determine and publish the applicable percentage in the ranges specified in paragraph 3 of Article 479. [Y/N/NA] Mandatory if Y Mandatory if Y

550 Article 480(3) Competent Authorities Credit Institutions and Investment firms Transitional recognition of minority interests and qualifying Additional Tier 1 and Tier 2 capital Competent authorities shall determine and publish the value of the applicable factor in the ranges specified in paragraph 2 of Article 480. [Y/N/NA] Mandatory if Y Mandatory if Y

560 Article 481(5) Competent Authorities Credit Institutions and Investment firms Additional transitional filters and deductions For each filter or deduction referred to in paragraphs 1 and 2 of Article 481, competent authorities shall determine and publish the applicable percentages in the ranges specified in paragraphs 3 and 4 of that Article [Y/N/NA] Mandatory if Y Mandatory if Y

570 Article 486(6) Competent Authorities Credit Institutions and Investment firms Limits for grandfathering of items within Common Equity Tier 1, Additional Tier 1 and Tier 2 items Competent authorities shall determine and publish the applicable percentages in the ranges specified in paragraph 5 of Article 486. [Y/N/NA] Mandatory if Y Mandatory if Y

580 Article 495(1) Competent Authorities Credit Institutions and Investment firms Transitional treatment of equity exposures under the IRB approach By way of derogation from Chapter 3 of Part Three, until 31 December 2017, the competent authorities may exempt from the IRB treatment certain categories of equity exposures held by institutions and EU subsidiaries of institutions in that Member State as at 31 December 2007. [Y/N/NA] Mandatory if Y Mandatory if Y

590 Article 496(1) Competent Authorities Credit Institutions and Investment firms Transitional provision on the calculation of own fund requirements for exposures in the form of covered bonds Until 31 December 2017, competent authorities may waive in full or in part the 10 % limit for senior units issued by French Fonds Communs de Créances or by securitisation entities which are equivalent to French Fonds Communs de Créances laid down in points (d) and (f) of Article 129(1), provided that conditions specified in points (a) and (b) of Article 496(1) are fulfilled. [Y/N/NA] Mandatory if Y Mandatory if Y

600 Article 10(1)(b)(iii) Competent Authorities Credit Institutions LCR - Liquid assets The liquidity reserve held by the credit institution in a central bank is recognisable as Level 1 asset provided that it can be withdrawn in times of stress. The purposes under which central bank reserves may be withdrawn for the purposes of this Article must be specified in an agreement between the CA and the ECB or the central bank. [Y/N/NA] Mandatory if Y Mandatory if Y

610 Article 10(2) Competent Authorities Credit Institutions LCR - Liquid assets The market value of extremely high quality covered bonds referred to in paragraph 1(f) shall be subject to a haircut of at least 7 %. Except as specified in relation to shares and units in CIUs in points (a) and (b) of Article 15(2), no haircut shall be required on the value of the remaining level 1 assets. Those cases where the higher haircuts were set to an entire asset class (all assets subject to a specific and differentiated haircut in the LCR Delegated Regulation) (e.g. to all level 1 covered bonds, etc.). [Y/N/NA] Mandatory if Y Mandatory if Y

620 Article 12(1)(c)(i) Competent Authorities Credit Institutions LCR - Level 2B assets Shares may constitute level 2B assets provided that they form part of a major stock index in a MS or in a third country, as identified as such by the CA of a MS or the relevant public authority in a third country. [Y/N/NA] Mandatory if Y Mandatory if Y

630 Article 12(3) Competent Authorities Credit Institutions LCR - Level 2B assets For credit institutions which in accordance with their statutes of incorporation are unable for reasons of religious observance to hold interest bearing assets, the competent authority may allow to derogate from points (ii) and (iii) of paragraph 1(b) of this Article, provided there is evidence of insufficient availability of non-interest bearing assets meeting these requirements and the non-interest bearing assets in question are adequately liquid in private markets. [Y/N/NA] Mandatory if Y Mandatory if Y