Interactive Single Rulebook

The Interactive Single Rulebook is an on-line tool that provides a comprehensive compendium of  the level 1 text for the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV); Bank Recovery and Resolution Directive (BRRD); the Deposit Guarantee Schemes Directive (DGSD);   the Payment Services Directive (PSD2) ; the Mortgage Credit Directive (MCD) and the corresponding technical standards developed by the European Banking Authority (EBA) and adopted by the European Commission (RTS and ITS), as well as the EBA Guidelines and related Q&As.
 
The purpose of the Single Rulebook is to ensure the consistent application of the regulatory banking framework across the EU.
 
This Interactive Single Rulebook is meant purely as a documentation tool and the EBA does not assume any liability for its contents. For the authentic version of EU legislation users should refer to the Official Journal of the European Union.
 
Please click on the relevant legislative text to see technical standards, guidelines and Q&As relating to each Article.
 
 
 

 

 

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Interactive Single Rulebook

Path Capital Requirements Regulation > PART THREE > TITLE II > CHAPTER 4 > Section 3 > Sub-Section 1 > Article 206 (Copy link to article)
Title Article 206
Description Requirements for master netting agreements covering repurchase transactions or securities or commodities lending or borrowing transactions or other capital market driven transactions
Main content
Master netting agreements covering repurchase transactions, securities or commodities lending or borrowing transactions or other capital market driven transactions shall qualify as an eligible form of credit risk mitigation where the collateral provided under those agreements meets all the requirements laid down in Article 207(2) to (4) and where all the following conditions are met:
 
(a) they are legally effective and enforceable in all relevant jurisdictions, including in the event of the bankruptcy or insolvency of the counterparty;
 
(b) they give the non-defaulting party the right to terminate and close-out in a timely manner all transactions under the agreement upon the event of default, including in the event of the bankruptcy or insolvency of the counterparty;
 
(c) they provide for the netting of gains and losses on transactions closed out under an agreement so that a single net amount is owed by one party to the other.
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