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List of Q&A's

Access to national credit databases for all EU creditors for both cross-border and domestic mortgage loan transactions

Considering that Article 19 of Directive (EU) 2023/2225, repealing Directive 2008/48/EC (the ‘Consumer Credit Directive 2’), grants creditors from a Member State other than the one where a credit database is located access to that database only in relation to cross-border credit transactions, does the reference to the framework of Directive 2008/48/EC in Recital 20 of Directive 2014/17/EU (the ‘Mortgage Credit Directive’) imply that Article 21 MCD likewise provides creditors with access to databases solely for cross-border credit transactions?

  • Legal act: Directive 2014/17/EU (MCD)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7588
  • Topic: Creditworthiness assessments
  • Date of submission:

SPV repack transactions (collateral eligibility)

For recognising received financial collateral when calculating the exposure value under the counterparty credit risk (CCR) framework, does Article 207(2) CRR – which requires that the credit quality of the obligor and the value of the collateral shall not have a material positive correlation – apply?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7576
  • Topic: Market risk
  • Date of submission:

SPV repack transactions

Do SPV repackaging transaction on standardised platforms incur counterparty credit risk (CCR) or is the termination scenario considered a contractual feature that only results in market risk? If these transactions are subject to counterparty credit risk, how should the value of the collateral be taken into account?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7575
  • Topic: Market risk
  • Date of submission:

Application of the SME definition in specific cases

How shall the SME definition in Article 5(9) of Regulation (EU) No 575/2013 (CRR) be applied in the following cases: 1. The entity is considered both in accounts on the consolidated basis of a group and also in accounts on a “sub-consolidated” basis only considering a sub-group of this group. 2. The entity is a single entity that prepares accounts on its individual basis but is not considered in any accounts for a “consolidated situation” of a group.

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7512
  • Topic: Credit risk
  • Date of submission:

fully and completely secured by mortgages for the purpose of the deduction of non performing exposures

In the context of the CRR3 and the application of the deduction of non-performing exposure from Common Equity Tier 1 as per article 47c, we would like to clarify the requirements of “ fully and completely secured by mortgages” in order to determine the "secured part of a non-performing exposure".

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7503
  • Topic: Credit risk
  • Date of submission:

Payment account definition

Does an account provided by a payment service provider, linked to a payment instrument that can be used to make payment transactions to [certain] third parties (e.g. merchants) from that account, as well as to withdraw cash from that account (e.g. from an ATM) and receive incoming payments in the respective account from the same payment users to which the funds were transferred (i.e, refunds from merchants) fall under the definition of a payment account in accordance with PSD2, even if the respective account cannot receive funds from third parties via credit transfers?  

  • Legal act: Directive 2015/2366/EU (PSD2)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7463
  • Topic: Other topics
  • Date of submission:

Application of PSD2 provisions to the issuance and redemption of electronic money tokens

1) An EMI is acting solely as an issuer of EMTs ("EMTI") to its customers - crypto asset service providers (CASPs), these then provide the EMTs to their retail customers to be used for cryptoassets trading. EMTI does not maintain any fiat currency payment account for CASPs, nor provide any cryptocurrency services to them within the meaning of Articles 60(4) and 62 of the MICAR. Does the issuance of EMTs lead to a contractual relationship between the EMT holder (CASP, to whom the EMT is issued) and the EMTI within the meaning of PSD2 and EMD2? Is this contract passed on to the subsequent EMT holders who will acquire the EMTs from CASPs? 2) What is the legal nature of the acts of issuance and redemption of the EMTs?3) Which provisions of PSD2, if any, apply to issuance and redemption of the EMTs?

  • Legal act: Regulation (EU) No 2023/1114 (MiCAR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7457
  • Topic: Authorisation of issuers of ARTs and EMTs (MiCAR)
  • Date of submission:

Staff costs

Do imputed staff costs count as part of staff costs in accordance with Article 18(1)(f) of Regulation (EU) 2022/2554 in conjunction with Article 7(1)(c) Delegated Regulation (EU) 2024/1772 and Article 4(e) Delegated Regulation (EU) 2025/301 and must, therefore, be reported as part of gross direct and indirect costs and losses of an incident?

  • Legal act: Regulation (EU) No 2022/2554 (DORA Reg)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Regulation (EU) 2024/1772 - RTS on the classification of ICT-related incidents and cyber threats
  • ID: 2025_7439
  • Topic: ICT-related incidents (management / classification / reporting)
  • Date of submission:

Calculation of the standardised total risk exposure amount or S-TREA under Article 92(25)

Does the calculation of standardised total risk exposure amount, or S-TREA, require Firms to recalculate RWAs for standardised approaches where modelled inputs have been used? Specifically, do CVA RWAs calculated using IMM modelled EADs need to be re-calculated using EADs that have not been derived using a modelled approach?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7429
  • Topic: Own funds
  • Date of submission:

Setting limit (daily and/or per transaction) for the execution of payment transaction by PSP

Is PSP allowed, according to the Article 68(1) of PSD2, to set a general limit (daily and/or per transaction) for the execution of payment transaction to the payee with the PSP in another EU Member state, under the certain payment initiation channel (for example mobile banking), in order to mitigate the risk of fraud (to prevent fraud)? Is PSP allowed to set different general limits for national payments and for payments to PSPs in another EU Member state (due to various fraud risk associated to these transactions)? Is PSP obliged to change a limit above the limit that the PSP set - on PSU's request for regular credit transfer?

  • Legal act: Directive 2015/2366/EU (PSD2)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7425
  • Topic: Other topics
  • Date of submission:

Calculation of the Exposure-to-Value (ETV) ratio and risk weighting when dealing with complex collateral structures

Under Articles 124, 125, and 126 of Regulation (EU) No. 575/2013 (CRR) as amended, how should institutions calculate the Exposure-to-Value (ETV) ratio and apply risk weighting when dealing with complex collateral structures involving multiple liens, syndicated financing, and mixed property types? Specifically: 1.      Is the exposure value defined in Article 111 the correct basis for determining the portion of exposure exceeding the lien amount? 2.      Should the ETV ratio be calculated only up to the nominal amount of the lien, or on the full loan amount? 3.      When a loan is secured by multiple properties, should the ETV be calculated as a single ratio using the aggregate property value, or should separate ETVs be calculated per lien/property? 4.      How should the gross exposure be adjusted when multiple first-ranking liens exist, some held by the institution and others by third parties? 5.      In syndicated loans where liens are shared pari passu among institutions, how should the exposure be compared to the nominal amount of the lien for risk weighting under Article 124(1)? 6.      In cases where the lien sequence is broken (e.g., junior liens held by third parties), is it permissible to distribute the property value across liens to optimise ETV ratios? 7.      Can an institution apply both the loan-splitting and ETV approaches to different parts of a single loan secured by multiple properties with varying characteristics (e.g., residential vs commercial)?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7422
  • Topic: Credit risk
  • Date of submission:

Application of general requirements of Chapter 6 of the Regulation (EU) No 575/2013 regarding the definition of own funds

Does the definition of „own funds“ in Article 4(46) of PSD2 refer to the definition of „own funds“ as defined in point 118 of Article 4(1) of Regulation (EU) No 575/2013 only, or are Articles 26 - 88 of Regulation (EU) No 575/2013, in particular Articles 26 (3), 77 and 78 of Regulation (EU) No 575/2013, also refered to by Article 4(46) PSD2?

  • Legal act: Directive 2015/2366/EU (PSD2)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7396
  • Topic: Other topics
  • Date of submission:

Calculation of COH according to Article 20 vs. Art. 12 (1) Subparagraph 2

How exactly does the calculation of COH, AUM, ASA, DTF, NPR and TCD on the basis of IFR Article 12 (1) Subparagraph 2 differ from the general method for calculation COH in IFR Article 20?

  • Legal act: Regulation (EU) No 2019/2033 (IFR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7359
  • Topic: Capital requirements
  • Date of submission:

Requirements for the purpose of treating exposures secured by mortgages on immovable property as duly secured from an RWA computation perspective under CRR Article 124(2) of the CRR.

Can a global insurance against damages on a portfolio of exposures secured by immovable properties subscribed directly by the lending institution be considered as compliant with the requirement of Article 208(5) of the CRR - that is to say considered, under the standardized approach, as meeting the operational requirements for the purpose of treating exposures secured by mortgages on immovable property (or in case an institution has opted for the application of article 108(5)(a) allowing to consider a guaranteed exposure as an exposure secured by a mortgage on immovable property) as duly secured from an RWA computation perspective under Article 124(2) of the CRR?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2025_7293
  • Topic: Credit risk
  • Date of submission:

Definition and scope of ICT services

What is the correct reading of Article 3 (21) and Recital 63, Article 2 and Article 58(2) of Regulation (EU) No. (EU) 2022/2554 (DORA Reg) in combination with  the COM/2023/0365 European Commission Report on the review of Directive 2015/2366/EU ?

  • Legal act: Regulation (EU) No 2022/2554 (DORA Reg)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7290
  • Topic: ICT third-party risk management
  • Date of submission:

emission allowances

Sentence 2 of paragraph 3 of Annex II CRR refers to point (11) of Section C of Annex I MiFID, i.e. to emission allowances. Does that mean that spot market emission allowances are to be treated as derivative contracts listed in Annex II, even though they are not derivative in character?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7255
  • Topic: Other issues
  • Date of submission:

Application of Instant Payment Regulation (IPR) to Securities Providers

Do you agree on the non-applicability of the obligation to provide instant credit transfers (within a time horizon of 10 seconds), introduced by IPR, to depositaries, custodians, and entities responsible for payments or local facility for foreign CIUs distributed in a Member State, based on the exclusion provided by article 3, paragraph 1, letter i), of directive 2015/2366 (PSD2)?

  • Legal act: Directive 2015/2366/EU (PSD2)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7249
  • Topic: Authorisation and registration
  • Date of submission:

Prudential treatment for exposures in leasing real estate under construction

Should exposures in "real estate under construction instrumental leasing" fall within the definition of ADC exposure of Article 4(78a) of Regulation (EU) No. 575/2013 as amended by Regulation (EU) No. 1623/2024, or instead be treated applying the RW provided for unsecured exposures towards the lessee?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7226
  • Topic: Credit risk
  • Date of submission:

Use of credit assessments by ECAIs not in scope of Regulation (EC) No 1060/2009.

Can external credit assessments that have been issued by an ECAI, but were not publicly disclosed, be used to determine the risk weight of an exposure under the Standardised Approach?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7220
  • Topic: Credit risk
  • Date of submission:

Definition of ADC exposures

Should ADC exposures include exposures related to financing land acquisition for development and construction purposes or the development and construction of residential or commercial property for borrower’s own use?

  • Legal act: Regulation (EU) No 575/2013 (CRR)
  • COM Delegated or Implementing Acts/RTS/ITS/GLs: Not applicable
  • ID: 2024_7201
  • Topic: Credit risk
  • Date of submission: