{
  "url": "https://openlegislation.uk/eu-regulation-2017-390/article-12",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-390/article-12.json",
  "legislation": "eur/2017/390",
  "legislation_title": "Commission Delegated Regulation (EU) 2017/390 of 11 November 2016 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on certain prudential requirements for central securities depositories and designated credit institutions offering banking-type ancillary services (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-390",
  "path": "article/12",
  "kind": "article",
  "number": "12",
  "heading": "Collateral valuation",
  "text": "1. A CSD-banking service provider shall establish collateral valuation policies and procedures that ensure the following:\n(a) that the financial instruments referred to in Article 10 are valued mark-to- market on at least a daily basis;\n(b) that the financial instruments referred to in Article 11(1) are valued on at least a daily basis, and, where such daily valuation is not possible, that they are valued on a mark-to-model basis;\n(c) that the financial instruments referred to in Article 11(2) are valued on at least a daily basis, and where such daily valuation is not possible, that they are valued on a mark-to-model basis.\n2. The methodologies for the mark-to-model valuation referred to in points (b) and (c) of paragraph 1 shall be fully documented.\n3. A CSD-banking service provider shall review the adequacy of its valuation policies and procedures in all of the following cases:\n(a) on a regular basis which shall be at least annually;\n(b) where a material change affects the valuation policies and procedures.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/390/article/12",
    "retrieved_at": "2026-11-01T14:45:08.893870+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."
}