{
  "url": "https://openlegislation.uk/eu-regulation-2018-728/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-728/article-1.json",
  "legislation": "eur/2018/728",
  "legislation_title": "Commission Delegated Regulation (EU) 2018/728 of 24 January 2018 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for procedures for excluding transactions with non-financial counterparties established in a third country from the own funds requirement for credit valuation adjustment risk (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2018-728",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": null,
  "text": "1. For the purposes of point (a) of Article 382(4) of Regulation (EU) No 575/2013, institutions shall consider as non-financial counterparties established in a third country, counterparties that meet both of the following conditions:\n(a) they are established in a third country;\n(b) they would qualify as a non-financial counterparty within the meaning of point (9) of Article 2 of Regulation (EU) No 648/2012 if they were established in the Union.\n2. Institutions shall verify whether a counterparty is a non-financial counterparty established in a third country:\n(a) at trade inception when trading with a new counterparty;\n(b) on an annual basis for existing counterparties;\n(c) where there is reason to believe that the counterparty is no longer a non-financial counterparty established in a third country.\n3. Institutions shall substantiate their opinion that an undertaking is a non-financial counterparty established in a third country.",
  "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/2018/728/article/1",
    "retrieved_at": "2026-11-01T14:44:08.178190+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."
}