{
  "url": "https://openlegislation.uk/eu-regulation-2013-1071/annex-I/part-1/section-1/division-1.2",
  "json_url": "https://openlegislation.uk/eu-regulation-2013-1071/annex-I/part-1/section-1/division-1.2.json",
  "legislation": "eur/2013/1071",
  "legislation_title": "Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector (recast) (ECB/2013/33)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2013-1071",
  "path": "annex/I/part/1/section/1/division/1.2",
  "kind": "division",
  "number": "1.2",
  "heading": "For the purposes both of determining substitutability of deposits and classifying liabilities as deposits:",
  "text": "(a) transferability refers to the possibility of mobilising funds placed in a financial instrument by using payment facilities, such as cheques, transfer orders, direct debits or similar means;\n(b) convertibility refers to the possibility and the cost of converting financial instruments into currency or transferable deposits; the loss of fiscal advantages in the case of such conversion may be considered a penalty that reduces the degree of liquidity;\n(c) certainty means knowing precisely in advance the capital value of a financial instrument in terms of national currency;\n(d) securities quoted and traded regularly on an organised market are considered to be marketable. For shares in open-end collective investment undertakings, there is no market in the usual sense. Nevertheless, investors know the daily quotation of the shares and can withdraw funds at this price.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2013/1071/annex/I/part/1/section/1/division/1.2",
    "retrieved_at": "2026-11-01T14:48:16.937818+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}