+Article 501a 2.

Article 501a 2.

For the purposes of point (e) of paragraph 1, the cash flows generated shall not be considered predictable unless a substantial part of the revenues satisfies the following conditions:

(a) 

one of the following criteria is met:

(i) 

the revenues are availability-based;

(ii) 

the revenues are subject to a rate-of-return regulation;

(iii) 

the revenues are subject to a take-or-pay contract;

(iv) 

the level of output or the usage and the price shall independently meet one of the following criteria:

— 
it is regulated,
— 
it is contractually fixed,
— 
it is sufficiently predictable as a result of low demand risk;
(b) 

where the revenues of the obligor are not funded by payments from a large number of users, the party which agrees to purchase the goods or services provided by the obligor shall be one of the following:

(i) 

a central bank, a central government, a regional government or a local authority, provided that they are assigned a risk weight of 0 % in accordance with Articles 114 and 115 or are assigned an ECAI rating with a credit quality step of at least 3;

(ii) 

a public sector entity, provided that it is assigned a risk weight of 20 % or below in accordance with Article 116 or is assigned an ECAI rating with a credit quality step of at least 3;

(iii) 

a multilateral development bank referred to in Article 117(2);

(iv) 

an international organisation referred to in Article 118;

(v) 

a corporate entity which has been assigned an ECAI rating with a credit quality step of at least 3;

(vi) 

an entity that is replaceable without a significant change in the level and timing of revenues.

1. Übersicht

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1.1 Referenzen

1.2 Identifizierte Anforderungen

1.3 Zugehörige Standards

2. Identifizierte Anforderungen

Anforderungen

3. Zugehörige Standards

Standards