+Article 495b 3.

Article 495b 3.

By way of derogation from Article 122a(3), point (a), specialised lending exposures as referred to in that point for which a directly applicable credit assessment by a nominated ECAI is not available may, until 31 December 2032, be assigned a risk weight of 80 %, where the adjustment to own funds requirements for credit risk referred to in Article 501a is not applied and the exposure is deemed to be of high quality when taking into account all of the following criteria:

(a) 

the obligor can meet its financial obligations even under severely stressed conditions due to the presence of all of the following features:

(i) 

adequate exposure-to-value of the exposure;

(ii) 

conservative repayment profile of the exposure;

(iii) 

commensurate remaining lifetime of the assets upon full pay-out of the exposure or alternatively recourse to a protection provider with high creditworthiness;

(iv) 

low refinancing risk of the exposure by the obligor or that risk is adequately mitigated by a commensurate residual asset value or recourse to a protection provider with high creditworthiness;

(v) 

the obligor has contractual restrictions over its activity and funding structure;

(vi) 

the obligor uses derivatives only for risk-mitigation purposes;

(vii) 

material operating risks are properly managed;

(b) 

the contractual arrangements on the assets provide lenders with a high degree of protection, including the following features:

(i) 

the lenders have a legally enforceable first-ranking right over the assets financed and, where applicable, over the income that they generate;

(ii) 

there are contractual restrictions on the ability of the obligor to make changes to the asset which would have a negative impact on its value;

(iii) 

where the asset is under construction, the lenders have a legally enforceable first-ranking right over the assets and the underlying construction contracts;

(c) 

the assets being financed meet all of the following standards to operate in a sound and effective manner:

(i) 

the technology and design of the asset are tested;

(ii) 

all necessary permits and authorisations for the operation of the assets have been obtained;

(iii) 

where the asset is under construction, the obligor has adequate safeguards on the agreed specifications, budget and completion date of the asset, including strong completion guarantees or the involvement of an experienced constructor and adequate contract provisions for liquidated damages.

1. Prezentare generală

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1.1 Referințe

1.2 Cerințe identificate

1.3 Standarde asociate

2. Cerințe identificate

Cerințe

3. Standarde asociate

Standarde