+Article 7 Article 380 of Regulation (EU) No 575/2013: Waiver

Article 7 Article 380 of Regulation (EU) No 575/2013: Waiver

Article 7

Article 380 of Regulation (EU) No 575/2013: Waiver

In the event of a system-wide failure within the meaning of Article 380 of Regulation (EU) No 575/2013 which the ECB confirms by issuing a public statement, until the ECB issues a public statement that the situation referred to therein is rectified, the following provisions shall apply:

(a) 

credit institutions shall not be required to comply with the own funds requirements laid down in Articles 378 and 379 of Regulation (EU) No 575/2013; and

(b) 

the failure of a counterparty to settle a trade shall not be deemed a default for purposes of credit risk.

1. Przegląd

,

1.1 Odwołania

1.2 Zidentyfikowane wymagania

1.3 Powiązane normy

2. Zidentyfikowane wymagania

Wymagania

3. Powiązane normy

Normy