Introductory text

United Kingdom

Commission Implementing Regulation (EU) 2020/125

of 29 January 2020

amending Implementing Regulation (EU) No 945/2014 laying down implementing technical standards with regard to relevant appropriately diversified indices in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council

(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 the third subparagraph of Article 344(1) thereof,

Whereas:

(1)

In order to ensure that the stock indices listed in the Annex to Commission Implementing Regulation (EU) No 945/2014^f2 continue to meet the conditions for their specific risk to be ignored, the relevant indices have been reassessed in light of the latest available data, which is that relative to the year 2018. In light of that reassessment, it is necessary to update the list of relevant appropriately diversified indices.

(2)

This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority to the Commission.

(3)

The necessary amendments to Implementing Regulation (EU) No 945/2014 do not arise as a result of significant changes to the assessment methodology applied. The European Banking Authority has not conducted an open public consultation or a cost-benefit analysis considering that such a consultation or analysis would be disproportionate in relation to the scope and impact of the draft implementing technical standards concerned.

(4)

Implementing Regulation (EU) No 945/2014 should therefore be amended accordingly,

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 Implementing Regulation (EU) No 945/2014 of 4 September 2014 laying down implementing technical standards with regard to relevant appropriately diversified indices according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 265, 5.9.2014, p. 3).