# 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), Division 9: LOAN COMMITMENTS, FINANCIAL GUARANTEES AND OTHER COMMITMENTS (9)

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

(a) they are subject to impairment requirements of IFRS 9;
(b) they are designated at fair value through profit or loss under IFRS 9;
(c) they are within the scope of IAS 37 or IFRS 4.
(a) ‘ Forward deposits ’ ;
(b) ‘ Undrawn credit facilities ’ , which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ under pre-specified terms and conditions.
(a) ‘ Guarantees having the character of credit substitute ’ ;
(b) ‘ Credit derivatives ’ that meet the definition of financial guarantee;
(c) ‘ Irrevocable standby letters of credit having the character of credit substitutes ’ .
(a) ‘ Unpaid portion of partly-paid shares and securities ’ ;
(b) ‘ Documentary credits issued or confirmed ’ ;
(c) ‘ Trade finance off-balance sheet items ’ ;
(d) ‘ Documentary credits in which underlying shipment acts as collateral and other self-liquidating transactions ’ ;
(e) ‘ Warranties and indemnities ’ (including tender and performance bonds) and ‘ guarantees not having the character of credit substitutes ’ ;
(f) ‘ Shipping guarantees, customs and tax bonds ’ ;
(g) ‘ Note issuance facilities ’ (NIFs) and ‘ Revolving underwritings facilities ’ (RUFs);
(h) ‘ Undrawn credit facilities ’ which comprise agreements to ‘ lend ’ or provide ‘ acceptance facilities ’ where the terms and conditions are not pre-specified;
(i) ‘ Undrawn credit facilities ’ which comprise agreements to ‘ purchase securities ’ or ‘ provide guarantees ’ ;
(j) ‘ Undrawn credit facilities for tender and performance guarantees ’ ;
(k) ‘ Other off-balance sheet items ’ in Annex I to CRR.
(a) ‘ Credit derivatives ’ that do not meet the definition of financial guarantees are ‘ derivatives ’ under IFRS 9;
(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;
(c) ‘ Endorsements on bills ’ that do not meet the criteria for derecognition under IFRS 9;
(d) ‘ Transactions with recourse ’ that do not meet the criteria for derecognition under IFRS 9;
(e) ‘ Assets purchased under outright forward purchase agreements ’ are ‘ derivatives ’ under IFRS 9;
(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.

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Source: https://www.legislation.gov.uk/eur/2014/680/annex/V/part/2/division/9 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-680/annex-V/part-2/division-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.