2021_6096 Assets encumbered for a residual maturity of one year or more in a cover pool funded by Covered bonds for NSFR purposes | European Banking Authority Skip to main content
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  3. 2021_6096 Assets encumbered for a residual maturity of one year or more in a cover pool funded by Covered bonds for NSFR purposes
Question ID
2021_6096
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Liquidity risk
Article
428ag
Paragraph
h
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Not applicable
Article/Paragraph
-
Type of submitter
Credit institution
Subject matter
Assets encumbered for a residual maturity of one year or more in a cover pool funded by Covered bonds for NSFR purposes
Question

Does the 85 % required stable funding factor apply to assets encumbered for a residual maturity of one year or more in a cover pool funded by Covered bonds issued directly in the market, as well as to the assets underlying self-issued Covered bonds used as collateral for long term ECB funding or SFT with the market?

Background on the question

With reference to the Article 428ag (h) of Regulation EU 2019/876, in the context of Covered bonds that comply with Article 52(4) of Directive 2009/65/EC or requirements as set out in Article 129(4) or (5) of the Regulation, the 85% of RSF factor could be applied to all assets encumbered for a residual maturity of over one year in a cover pool funded by covered bonds issued for funding directly to investors in the market, as well as also to those assets underlying the retained Covered bonds that are used as guarantee for long term ECB funding or Repo transactions. 

Submission date
16/07/2021
Rejected publishing date
21/03/2023
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 or that would require a modification of the legal framework in order to address the question.

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

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