CELEX: 32014R0945
Language: en
Date: 2014-09-04 00:00:00
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

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