Introductory text

United Kingdom

Commission Delegated Regulation (EU) 2015/1798

of 2 July 2015

correcting Delegated Regulation (EU) No 625/2014 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 lenders and originator institutions relating to exposures to transferred credit risk

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012^f1, and in particular Article 410(2) thereof,

Whereas:

(1)

An error appears in the Bulgarian, Estonian, English, French, Latvian, Lithuanian, Hungarian and Maltese language versions of the title of Commission Delegated Regulation (EU) No 625/2014^f2.

(2)

An error appears in the Greek, English, French, Italian, Latvian, Hungarian and Maltese language versions of Article 1(c) of Delegated Regulation (EU) No 625/2014.

(3)

In the Estonian, Greek, English, French, Croatian, Italian, Hungarian, Polish, Romanian, Finnish and Swedish language versions of Delegated Regulation (EU) No 625/2014, in Article 15(1) the sentence structure is erroneous.

(4)

An error appears in the English, French, Latvian and Maltese language versions of Article 16(3) of Delegated Regulation (EU) No 625/2014.

(5)

In the Bulgarian, Spanish, Czech, German, Estonian, Greek, English, French, Croatian, Italian, Latvian, Lithuanian, Hungarian, Maltese, Dutch, Polish, Portuguese, Romanian, Slovak, Slovenian, Finnish and Swedish language versions of Delegated Regulation (EU) No 625/2014, in Article 22(1)(b) the sentence structure is erroneous.

(6)

In all language versions, Article 23(2) of Delegated Regulation (EU) No 625/2014 erroneously contains a point (c), which should be a separate paragraph of that Article. The text should be corrected in order to make clear that materially relevant data does not have to be provided in all circumstances at an individual loan level and that in certain circumstances it can be deemed sufficient to provide materially relevant data on an aggregate basis.

(7)

Delegated Regulation (EU) No 625/2014 should therefore be corrected accordingly.

(8)

This Regulation is based on the original draft regulatory technical standards submitted by the European Supervisory Authority (European Banking Authority)] to the Commission.

(9)

The European Supervisory Authority (European Banking Authority) has conducted open public consultations on the original draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council^f3,

HAS ADOPTED THIS REGULATION:

Annotations

Modifications

C1: Regulation: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pts. 1, 3; S.I. 2023/779, reg. 2(d)

Footnotes

f1: OJ L 176, 27.6.2013, p. 1.
f2: 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 lenders and originator institutions relating to exposures to transferred credit risk (OJ L 174, 13.6.2014, p. 16).
f3: Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).