- Question ID
-
2024_7234
- Legal act
- Regulation (EU) No 575/2013 (CRR)
- Topic
- Own funds
- Article
-
36
- Paragraph
-
5
- COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
- Not applicable
- Article/Paragraph
-
n.a.
- Name of institution / submitter
-
Finansinspektionen
- Country of incorporation / residence
-
Sweden
- Type of submitter
-
Competent authority
- Subject matter
-
Classification as a “specialised debt restructurer” pursuant to article 36 (5) of Regulation No 575/2013
- Question
-
For how long prior to an institution’s classification as a specialised debt restructurer must all the criteria specified in article 36 (5) of Regulation No 575/2013 be met by the institution?
- Background on the question
-
Article 36 (5) of Regulation No 575/2013 states that to be classified as a “specialised debt restructurer” the institution must meet all the specified criteria “during the preceding financial year”.
This question is being posed to clarify what preceding financial year should mean in practice. It could lead to several different interpretations. For example:
- Assuming that the financial year matches the calendar year and that the institution comply with all criteria on 31st December (but at no previous occasions during the same financial year) it can be classified as a “specialised debt restructurer” thereafter.
- The institution should have complied with all the criteria at all given times during the previous financial year. If the financial year matches the calendar year it would in practice mean at all relevant reporting dates from the 1st of January to 31st December of the given year. Further, an institution must comply with the criteria at all times during the current financial year up until the time of the notification.
- Submission date
- Rejected publishing date
-
- Rationale for rejection
-
This question has been rejected because the issue it deals with is already explained or addressed in the regulatory framework. In particular, please see Article 36 of of Regulation 575/2013 (CRR).
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