{
  "url": "https://openlegislation.uk/eu-regulation-2014-680/annex-V/part-2/division-9",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-680/annex-V/part-2/division-9.json",
  "legislation": "eur/2014/680",
  "legislation_title": "Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-680",
  "path": "annex/V/part/2/division/9",
  "kind": "division",
  "number": "9",
  "heading": "LOAN COMMITMENTS, FINANCIAL GUARANTEES AND OTHER COMMITMENTS (9)",
  "text": "(a) they are subject to impairment requirements of IFRS 9;\n(b) they are designated at fair value through profit or loss under IFRS 9;\n(c) they are within the scope of IAS 37 or IFRS 4.\n(a) ‘ Forward deposits ’ ;\n(b) ‘ Undrawn credit facilities ’ , which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ under pre-specified terms and conditions.\n(a) ‘ Guarantees having the character of credit substitute ’ ;\n(b) ‘ Credit derivatives ’ that meet the definition of financial guarantee;\n(c) ‘ Irrevocable standby letters of credit having the character of credit substitutes ’ .\n(a) ‘ Unpaid portion of partly-paid shares and securities ’ ;\n(b) ‘ Documentary credits issued or confirmed ’ ;\n(c) ‘ Trade finance off-balance sheet items ’ ;\n(d) ‘ Documentary credits in which underlying shipment acts as collateral and other self-liquidating transactions ’ ;\n(e) ‘ Warranties and indemnities ’ (including tender and performance bonds) and ‘ guarantees not having the character of credit substitutes ’ ;\n(f) ‘ Shipping guarantees, customs and tax bonds ’ ;\n(g) ‘ Note issuance facilities ’ (NIFs) and ‘ Revolving underwritings facilities ’ (RUFs);\n(h) ‘ Undrawn credit facilities ’ which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ where the terms and conditions are not pre-specified;\n(i) ‘ Undrawn credit facilities ’ which comprise agreements to ‘ purchase securities ’ or ‘ provide guarantees ’ ;\n(j) ‘ Undrawn credit facilities for tender and performance guarantees ’ ;\n(k) ‘ Other off-balance sheet items ’ in Annex I to CRR.\n(a) ‘ Credit derivatives ’ that do not meet the definition of financial guarantees are ‘ derivatives ’ under IFRS 9;\n(b) ‘ Acceptances ’ are obligations by an institution to pay on maturity the face value of a bill of exchange, normally covering the sale of goods. Consequently, they are classified as ‘ trade receivables ’ on the balance sheet;\n(c) ‘ Endorsements on bills ’ that do not meet the criteria for derecognition under IFRS 9;\n(d) ‘ Transactions with recourse ’ that do not meet the criteria for derecognition under IFRS 9;\n(e) ‘ Assets purchased under outright forward purchase agreements ’ are ‘ derivatives ’ under IFRS 9;\n(f) ‘ Asset sale and repurchase agreements as referred to in paragraphs 3 and 5 of Article 12 of Directive 86/635/EEC ’ . In those contracts, the transferee has the option, but not the obligation, to return the assets at a price agreed in advance on a date specified or on a date to be specified. Therefore, those contracts meet the definition of derivatives in Appendix A to IFRS 9.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Substituted by Commission Implementing Regulation (EU) 2020/429 of 14 February 2020 amending Implementing Regulation (EU) No 680/2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/680/annex/V/part/2/division/9",
    "retrieved_at": "2026-11-01T14:47:31.206584+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."
}