Question ID
2023_6892
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Supervisory reporting - COREP (incl. IP Losses)
Article
107
Paragraph
3
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Not applicable
Article/Paragraph
107/3
Type of submitter
Credit institution
Subject matter
Exposures to a third-country credit institution located in United Kingdom
Question

Can you please advise if United Kindgom, as a former member of EU, benefit from a special treatment with regards to article 107, paragraph 3 from Regulation 575/2013 (CRR) ?

In addition, for branches located in UK of EU or third-countries credit institutions listed as equivalent, do they need to be considered as UK credit institutions anyway ?

 

 

Background on the question

Basel on article 107, paragraph 3 from CRR, we understood that exposures to a third-country credit institution shall be treated as exposures to an institution only where the third country applies prudential and supervisory requirements to that entity that are at least equivalent to those applied in the Union.

Eu decision 2021/1753 has provided the official list of third-countries considered as ''equivalent''.

We are surprised to not find in this list the United Kindgom which is one of the main financial centers.

 

 

 

Submission date
Rejected publishing date
Rationale for rejection

This question has been rejected because the objective of the Q&A tool is not to answer questions that put into doubt the correctness of the legal framework. The Single Rule Book Q&A tool has been established to provide explanations and non-binding interpretations on questions relating to the practical application or implementation of the provisions of legislative acts referred to in Article 1(2) of the EBA’s founding Regulation, as well as associated delegated and implementing acts, and guidelines and recommendations, adopted under these legislative acts. For further information on the purpose of this tool and on how to submit questions, please see 'Additional background and guidance for asking questions'

Status
Rejected question