+Section 2 Required stable funding factors
---+Article 428as 0 % required stable funding factor
------+Article 428as 1.
------+Article 428as 2.
---+Article 428at 5 % required stable funding factor
------+Article 428at 1.
------+Article 428at 2.
---+Article 428au 10 % required stable funding factor
---+Article 428av 20 % required stable funding factor
---+Article 428aw 50 % required stable funding factor
---+Article 428ax 55 % required stable funding factor
---+Article 428ay 85 % required stable funding factor
---+Article 428az 100 % required stable funding factor
------+Article 428az 1.
------+Article 428az 2.

Section 2 Required stable funding factors

Section 2 Required stable funding factors

1. Overview

,
Article 428as 0 % required stable funding factor
Article 428at 5 % required stable funding factor
Article 428au 10 % required stable funding factor

Article 428au

10 % required stable funding factor

The following assets and off-balance-sheet items shall be subject to a 10 % required stable funding factor:

(a) 

unencumbered assets that are eligible as level 1 extremely high quality covered bonds pursuant to the delegated act referred to in Article 460(1), regardless of whether they comply with the operational requirements and with the requirements on the composition of the liquidity buffer as set out in that delegated act;

(b) 

trade finance off-balance-sheet related products as referred to in Annex I.
Article 428av 20 % required stable funding factor

Article 428av

20 % required stable funding factor

Unencumbered assets that are eligible as level 2A assets pursuant to the delegated act referred to in Article 460(1), and unencumbered shares or units in CIUs pursuant to that delegated act shall be subject to a 20 % required stable funding factor, regardless of whether they comply with the operational requirements and with the requirements on the composition of the liquidity buffer as set out in that delegated act.
Article 428aw 50 % required stable funding factor

Article 428aw

50 % required stable funding factor

The following assets shall be subject to a 50 % required stable funding factor:

(a) 

secured and unsecured loans with a residual maturity of less than one year and provided that they are encumbered less than one year;

(b) 

any other assets with a residual maturity of less than one year, unless otherwise specified in Articles 428as to 428av;

(c) 

assets encumbered for a residual maturity of at least six months but less than one year, except where those assets would be assigned a higher required stable funding factor in accordance with Articles 428ax, 428ay and 428az if they were held unencumbered, in which case the higher required stable funding factor that would apply to those assets if they were held unencumbered shall apply.
Article 428ax 55 % required stable funding factor

Article 428ax

55 % required stable funding factor

Assets that are eligible as level 2B assets pursuant to the delegated act referred to in Article 460(1), and shares or units in CIUs pursuant to that delegated act shall be subject to a 55 % required stable funding factor, regardless of whether they comply with the operational requirements and with the requirements on the composition of the liquidity buffer as set out in that delegated act, provided that they are encumbered less than one year.
Article 428ay 85 % required stable funding factor

Article 428ay

85 % required stable funding factor

The following assets and off-balance-sheet items shall be subject to a 85 % required stable funding factor:

(a) 

any assets and off-balance-sheet items, including cash, posted as initial margin for derivative contracts or posted as contribution to the default fund of a CCP, unless those assets would be assigned a higher required stable funding factor in accordance with Article 428az if held unencumbered, in which case the higher required stable funding factor that would apply to those assets if they were held unencumbered shall apply;

(b) 

unencumbered loans with a residual maturity of one year or more, excluding loans to financial customers, which are not past due for more than 90 days;

(c) 

trade finance on-balance-sheet related products, with a residual maturity of one year or more;

(d) 

unencumbered securities with a residual maturity of one year or more that are not in default in accordance with Article 178 and that are not eligible as liquid assets pursuant to the delegated act referred to in Article 460(1);

(e) 

unencumbered exchange-traded equities that are not eligible as level 2B assets pursuant to the delegated act referred to in Article 460(1);

(f) 

physically traded commodities, including gold but excluding commodity derivatives.
Article 428az 100 % required stable funding factor

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards