Regulation (EU) 2025/1215
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art_1
#art_1
Article 1
Article 510 of Regulation (EU) No 575/2013 is amended as follows:
| (1) | paragraph 6 is amended as follows:(a)the introductory wording is replaced by the following: ‘EBA shall monitor the amount of stable funding required to cover the funding risk linked to securities financing transactions, including to the assets received or given in those transactions, and to unsecured transactions with financial customers, where such transactions have a residual maturity of less than six months. EBA shall report to the Commission by 31 January 2029, and every five years thereafter, on the appropriateness of that stable funding requirement. Taking into account international developments and the regulatory treatment of similar transactions in other jurisdictions, those reports shall assess at a minimum:’ ;(b)points (d) and (e) are replaced by the following:‘(d)the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with Article 428r(1), point (g), Article 428s(1), point (b), and Article 428v, point (a);(e)the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months, with financial customers, on:(i)the price structure of those transactions; and(ii)the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’; |
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| (a) | the introductory wording is replaced by the following: ‘EBA shall monitor the amount of stable funding required to cover the funding risk linked to securities financing transactions, including to the assets received or given in those transactions, and to unsecured transactions with financial customers, where such transactions have a residual maturity of less than six months. EBA shall report to the Commission by 31 January 2029, and every five years thereafter, on the appropriateness of that stable funding requirement. Taking into account international developments and the regulatory treatment of similar transactions in other jurisdictions, those reports shall assess at a minimum:’ ; |
| (b) | points (d) and (e) are replaced by the following:‘(d)the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with Article 428r(1), point (g), Article 428s(1), point (b), and Article 428v, point (a);(e)the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months, with financial customers, on:(i)the price structure of those transactions; and(ii)the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’; |
| ‘(d) | the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with Article 428r(1), point (g), Article 428s(1), point (b), and Article 428v, point (a); |
| (e) | the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months, with financial customers, on:(i)the price structure of those transactions; and(ii)the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’ |
| (i) | the price structure of those transactions; and |
| (ii) | the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’ |
| (2) | paragraphs 7 and 8 are deleted. |
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art_2
#art_2
Article 2
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.
It shall apply from 29 June 2025.
Provenance and validity dates, identifier, hash
| as of | 2026-08-07 → this publisher state was selected |
| publisher state | publisher version 2025-06-17 → latest held publisher-asserted |
| type | REG Regulation (EU) 2025/1215 of the European Parliament and of the Council of 17 June 2025 amending Regulation (EU) No 575/2013 as regards requirements for securities financing transactions under the net stable funding ratio (Text with EEA relevance) |
| language | en |
| published | 2025-06-17 |
| lex_id | eu-eurlex:32025r1215:2025-06-17 |
| record sha256 | c3b52ba984ef006491e47ef3ff381e999512ff9d8cb83dd3af4b8b2a0c0eee9f |
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