I bilag III fastsættes der regler for behandlingen af ikke-balanceførte poster i forbindelse med beregningen af egenkapitalkrav for kreditinstitutter; for at det indre marked kan fungere tilfredsstillende og især for at sikre lige konkurrencevilkår, skal medlemsstaterne tilstræbe, at deres kompetente myndigheder foretager en ensartet vurdering af kontrakter om nyordning og aftaler om netting; bilag III er i overensstemmelse med det arbejde, som et internationalt forum for banktilsynsmyndigheder har udført med henblik på disse myndigheders godkendelse af bilaterale aftaler om netting, herunder muligheden for at beregne egenkapitalkravene for visse transaktioner på grundlag af et nettobeløb i stedet for et bruttobeløb, forudsat at der findes juridisk bindende aftaler, der sikrer, at kreditrisikoen er begrænset til nettobeløbet; for internationalt aktive kreditinstitutter og kreditinstitutkoncerner i en lang række tredjelande, hvis kreditinstitutter konkurrerer med EF-kreditinstitutter, vil regler, der vedtages inden for et bredere internationalt forum, medføre en mere forfinet tilsynsmæssig behandling af afledte instrumenter, der handles "over-the-counter" (OTC-derivater); denne forbedring resulterer i et mere rimeligt kapitaldækningskrav ved at tage højde for den risikoreducerende effekt, som de af tilsynsmyndighederne anerkendte aftaler om netting har på potentielle fremtidige kreditrisici; clearing af OTC-derivater i clearinginstitutter, der fungerer som en central medkontrahent, spiller en vigtig rolle i visse medlemsstater; det er berettiget at anerkende en sådan clearings fordele i form af en reduceret kreditrisiko og en tilsvarende reduceret systemrisiko som led i en tilsynsmæssig behandling af kreditrisiko; det er nødvendigt, at der stilles fuld sikkerhed for aktuelle og potentielle fremtidige risici som følge af clearede OTC-derivatkontrakter, og at faren for, at clearinginstituttets samlede risici kommer til at overstige markedsværdien af den stillede sikkerhed, fjernes, for at clearede OTC-derivater i en overgangsperiode kan gøres til genstand for den samme tilsynsmæssige behandling som børshandlede afledte instrumenter; de kompetente myndigheder skal kunne godkende niveauet for de krævede initialmargener og løbende margener samt kvaliteten af og niveauet for den beskyttelse, der gives ved den stillede sikkerhed; hvad angår kreditinstitutter, der er registreret i medlemsstaterne, giver bilag III en tilsvarende mulighed for de kompetente myndigheders godkendelse af bilateral netting og giver dem derved lige konkurrencevilkår; reglerne er både afbalancerede og egnede til yderligere at styrke anvendelsen af tilsynsforanstaltningerne på kreditinstitutter; medlemsstaternes kompetente myndigheder bør sikre, at tillæggene beregnes på grundlag af faktiske og ikke nominelle beløb;
Whereas Annex III lays down the treatment of off-balance-sheet items in the context of the calculation of credit institutions’ capital requirements; whereas with a view to the smooth functioning of the internal market and in particular with a view to ensuring a level playing field Member States are obliged to strive for uniform assessment of contractual netting agreements by their competent authorities; whereas Annex III takes account of the work of an international forum of banking supervisors on the supervisory recognition of bilateral netting, in particular the possibility of calculating the own-funds requirements for certain transactions on the basis of a net rather than a gross amount provided that there are legally binding agreements which ensure that the credit risk is confined to the net amount; whereas for internationally active credit institutions and groups of credit institutions in a wide range of third countries, which compete with Community credit institutions, the rules adopted on the wider international level will result in a refined supervisory treatment of over-the-counter (OTC) derivative instruments; whereas this refinement results in a more appropriate compulsory capital cover taking into account the risk-reducing effects of supervisorily recognised contractual netting agreements on potential future credit risks; whereas the clearing of OTC derivative instruments provided by clearing houses acting as a central counterparty plays an important role in certain Member States; whereas it is appropriate to recognise the benefits from such a clearing in terms of a reduction of credit risk and related systemic risk in the prudential treatment of credit risk; whereas it is necessary for the current and potential future exposures arising from cleared OTC derivatives contracts to be fully collateralised and for the risk of a build-up of the clearing house's exposures beyond the market value of posted collateral to be eliminated in order for cleared OTC derivatives to be granted for a transitional period the same prudential treatment as exchange-traded derivatives; whereas the competent authorities must be satisfied as to the level of the initial margins and variation margins required and the quality of and the level of protection provided by the posted collateral; whereas for credit institutions incorporated in the Member States, Annex III creates a similar possibility for the recognition of bilateral netting by the competent authorities and thereby offers them equal conditions of competition; whereas the rules are both well balanced and appropriate for the further reinforcement of the application of prudential supervisory measures to credit institutions; whereas the competent authorities in the Member States should ensure that the calculation of add-ons is based on effective rather than apparent notional amounts;