# Commission Delegated Regulation (EU) No 1187/2014 of 2 October 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards regulatory technical standards for determining the overall exposure to a client or a group of connected clients in respect of transactions with underlying assets (Text with EEA relevance), Article 4: Underlying exposures to transactions which themselves have underlying assets

Extent: E+W+S+N.I.

1. When assessing the underlying exposures of a transaction (transaction A) which itself has an underlying exposure to another transaction (transaction B) for the purpose of Articles 5 and 6, an institution shall treat the exposure to transaction B as replaced with the exposures underlying transaction B.
2. Paragraph 1 shall apply as long as the underlying exposures are exposures to transactions with underlying assets.

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Source: https://www.legislation.gov.uk/eur/2014/1187/article/4 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-1187/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.