+Article 41 Exclusions
---+Article 41 1.
---+Article 41 2.

Article 41 Exclusions

1. Panoramica

,
Article 41 1.

The following exposures shall be excluded from the requirements set out in Article 37:

(a) 

exposures which are entirely deducted from an investment firm’s own funds;

(b) 

exposures incurred in the ordinary course of the settlement of payment services, foreign currency transactions, securities transactions and the provision of money transmission;

(c) 

exposures constituting claims against:

(i) 

central governments, central banks, public sector entities, international organisations or multilateral development banks and exposures guaranteed by or attributable to such persons, where those exposures receive a 0 % risk weight under Articles 114 to 118 of Regulation (EU) No 575/2013;

(ii) 

the regional governments and local authorities of countries that are members of the European Economic Area;

(iii) 

central counterparties and default fund contributions to central counterparties.
Article 41 2.

Competent authorities may fully or partially exempt the following exposures from the application of Article 37:

(a) 

covered bonds;

(b) 

exposures incurred by an investment firm to its parent undertaking, to other subsidiaries of that parent undertaking or to its own subsidiaries, insofar as those undertakings are supervised on a consolidated basis in accordance with Article 7 of this Regulation or with Regulation (EU) No 575/2013, are supervised for compliance with the group capital test in accordance with Article 8 of this Regulation, or are supervised in accordance with equivalent standards in force in a third country, and provided that the following conditions are met:

(i) 

there is no current or foreseen material practical or legal impediment to the prompt transfer of capital or repayment of liabilities by the parent undertaking; and

(ii) 

the risk evaluation, measurement and control procedures of the parent undertaking include the financial sector entity.

1.1 Riferimenti

1.2 Requisiti identificati

1.3 Standard correlati

2. Requisiti identificati

Requisiti

3. Standard correlati

Standard