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
Date: 2014-09-04
Institutions: European Commission
Subjects: credit institution, financial control, financial intervention, financial legislation, investment company, stock-exchange listing, trade information








L_2014265EN.01000301.xml










5.9.2014   


EN


Official Journal of the European Union


L 265/3








            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 1

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 2

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.
Done at Brussels, 4 September 2014.


For the Commission


The President

José Manuel BARROSO
            





(1)  
            OJ L 176, 27.6.2013, p. 1.

(2)  
            OJ L 331, 15.12.2010, p. 12.




ANNEX
Stock indices meeting the requirements of Article 344 of Regulation (EU) No 575/2013






Index


Country










1.


S&P All Ords






Australia










2.


ATX






Austria










3.


BEL20






Belgium










4.


SaoPaulo — Bovespa






Brazil










5.


TSE35






Canada










6.


FTSE China A50 Index






China










7.


CROBEX






Croatia










8.


OMX Copenhagen 20 CAP






Denmark










9.


DJ Euro STOXX 50






Europe










10.


FTSE Eurofirst 100






Europe










11.


FTSE Eurofirst 80






Europe










12.


FTSE Eurotop 100 index






Europe










13.


MSCI Euro index






Europe










14.


STOXX Europe 50






Europe










15.


STOXX Europe 600






Europe










16.


STOXX Europe Lrg 200






Europe










17.


STOXX Europe Mid 200






Europe










18.


STOXX Europe Small 200






Europe










19.


STOXX Select Dividend 30






Europe










20.


CAC40






France










21.


SBF 120






France










22.


DAX






Germany










23.


HDAX






Germany










24.


MDAX






Germany










25.


SDAX






Germany










26.


Athens General






Greece










27.


Hang Seng






Hong Kong










28.


Hang Seng China Enterprises






Hong Kong










29.


NIFTY






India










30.


FTSE MIB






Italy










31.


FTSE Bursa Malaysia






Malaysia










32.


MSE Share Index






Malta










33.


Nikkei225






Japan










34.


Nikkei300






Japan










35.


IPC Index






Mexico










36.


AEX






Netherlands










37.


AMX






Netherlands










38.


WIG20






Poland










39.


PSI 20






Portugal










40.


Straits Times Index






Singapore










41.


IBEX35






Spain










42.


OMX Stockholm 30






Sweden










43.


SMI






Switzerland










44.


FTSE nasdaq Dubai 20






UAE










45.


FTSE 100






UK










46.


FTSE mid-250






UK










47.


S&P 500






USA










48.


Dow Jones Ind. Av.






USA










49.


NASDAQ 100






USA