{
  "url": "https://openlegislation.uk/eu-regulation-2014-625",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-625.json",
  "id": "eur/2014/625",
  "title": "Commission Delegated Regulation (EU) No 625/2014 of 13 March 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council by way of regulatory technical standards specifying the requirements for investor, sponsor, original lender and originator institutions relating to exposures to transferred credit risk (Text with EEA relevance) (revoked)",
  "short_title": "Regulation (EU) No 625/2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the…",
  "long_title": "Commission Delegated Regulation (EU) No 625/2014 of 13 March 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council by way of regulatory technical standards specifying the requirements for investor, sponsor, original lender and originator institutions relating to exposures to transferred credit risk (Text with EEA relevance)",
  "citation": "EU Regulation No 625/2014",
  "type": "eur",
  "year": "2014",
  "number": "625",
  "version": "current",
  "date": "2014-03-13",
  "revised": false,
  "valid_from": null,
  "extent": "E+W+S+N.I.",
  "unapplied_effects": 0,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/introduction",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "chapter/I",
      "kind": "chapter",
      "number": "I",
      "heading": "DEFINITIONS AND EXPOSURE TO THE RISK OF A SECURITISATION",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Definitions",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-1",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/I"
    },
    {
      "path": "chapter/II",
      "kind": "chapter",
      "number": "II",
      "heading": "EXPOSURE TO THE CREDIT RISK OF A SECURITISATION POSITION",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Particular cases of exposure to the credit risk of a securitisation position",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-2",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/II"
    },
    {
      "path": "chapter/III",
      "kind": "chapter",
      "number": "III",
      "heading": "RETENTION OF NET ECONOMIC INTEREST",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": "Retainers of material net economic interest",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-3",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/4",
      "kind": "article",
      "number": "4",
      "heading": "Fulfilment of the retention requirement through a synthetic or contingent form of retention",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-4",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/5",
      "kind": "article",
      "number": "5",
      "heading": "Retention option (a): pro rata retention in each of the tranches sold or transferred to investors",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-5",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/6",
      "kind": "article",
      "number": "6",
      "heading": "Retention option (b): retention of the originator's interest for revolving exposures",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-6",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/7",
      "kind": "article",
      "number": "7",
      "heading": "Retention option (c): retention of randomly selected exposures",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-7",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/8",
      "kind": "article",
      "number": "8",
      "heading": "Retention option (d): retention of the first loss tranche",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-8",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/9",
      "kind": "article",
      "number": "9",
      "heading": "Retention option (e): retention of a first loss in every securitised exposure",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-9",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/10",
      "kind": "article",
      "number": "10",
      "heading": "Measurement of the level of retention",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-10",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/11",
      "kind": "article",
      "number": "11",
      "heading": "Measurement of retention for the undrawn amounts in exposures in the form of credit facilities",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-11",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/12",
      "kind": "article",
      "number": "12",
      "heading": "Prohibition of hedging or selling the retained interest",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-12",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/13",
      "kind": "article",
      "number": "13",
      "heading": "Exemptions to Article 405(1) of Regulation (EU) No 575/2013",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-13",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "article/14",
      "kind": "article",
      "number": "14",
      "heading": "Retention on a consolidated basis",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-14",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/III"
    },
    {
      "path": "chapter/IV",
      "kind": "chapter",
      "number": "IV",
      "heading": "DUE DILIGENCE REQUIREMENTS FOR INSTITUTIONS BECOMING EXPOSED TO A SECURITISATION POSITION",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/15",
      "kind": "article",
      "number": "15",
      "heading": "Outsourcing and other general considerations",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-15",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "article/16",
      "kind": "article",
      "number": "16",
      "heading": "Specification of risk characteristics and structural features",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-16",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "article/17",
      "kind": "article",
      "number": "17",
      "heading": "Frequency of review",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-17",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "article/18",
      "kind": "article",
      "number": "18",
      "heading": "Stress Tests",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-18",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "article/19",
      "kind": "article",
      "number": "19",
      "heading": "Exposures in the trading book and non-trading book",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-19",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "article/20",
      "kind": "article",
      "number": "20",
      "heading": "Positions in the correlation trading portfolio",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-20",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/IV"
    },
    {
      "path": "chapter/V",
      "kind": "chapter",
      "number": "V",
      "heading": "REQUIREMENTS FOR ORIGINATORS, SPONSORS AND ORIGINAL LENDERS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/21",
      "kind": "article",
      "number": "21",
      "heading": "Policies for credit granting",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-21",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/V"
    },
    {
      "path": "article/22",
      "kind": "article",
      "number": "22",
      "heading": "Disclosure of the level of the commitment to maintain a net economic interest",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-22",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/V"
    },
    {
      "path": "article/23",
      "kind": "article",
      "number": "23",
      "heading": "Disclosure of materially relevant data",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-23",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/V"
    },
    {
      "path": "chapter/VI",
      "kind": "chapter",
      "number": "VI",
      "heading": "FINAL PROVISIONS",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": null
    },
    {
      "path": "article/24",
      "kind": "article",
      "number": "24",
      "heading": "Entry into force",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/article-24",
      "extent": "E+W+S+N.I.",
      "status": "repealed",
      "parent": "chapter/VI"
    },
    {
      "path": "signature",
      "kind": "signature",
      "number": null,
      "heading": "Signature",
      "url": "https://openlegislation.uk/eu-regulation-2014-625/signature",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    }
  ],
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  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/625",
    "retrieved_at": "2026-11-01T14:47:35.019241+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."
}