Commission Delegated Regulation (EU) 2018/345

means the measurement basis refered to in Article 12(5).

means an institution or an entity as referred to in points (b), (c) or (d) of Article 1(1) of Directive 2014/59/EU.

means an estimated market price, for transferred or issued shares, that results from the application of generally accepted valuation methodologies.

means the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the valuation date, as defined in the relevant accounting framework.

means the net present value of cash flows that can reasonably be expected to result from the maintenance and renewal of assets and liabilities or businesses and includes the impact of any business opportunities, as relevant, including those stemming from the different resolution actions that are assessed by the valuer.

means the present value, discounted at an appropriate rate, of cash flows that the entity can reasonably expect under fair, prudent and realistic assumptions from retaining particular assets and liabilities, considering factors affecting customer or counterparty behaviour or other valuation parameters in the context of resolution.

means the approach for determining the monetary amounts at which assets or liabilities are presented by the valuer.

means the date on which the decision to resolve an entity is adopted, pursuant to Article 82 of Directive 2014/59/EU.

means either the assessment of an entity's assets and liabilities conducted by a valuer pursuant to Article 36(1) of Directive 2014/59/EU, or the provisional valuation conducted by the resolution authority or the valuer, as the case may be, pursuant respectively to paragraphs (2) and (9) of Article 36 of that Directive.

means either the independent valuer within the meaning of Article 38 of Commission Delegated Regulation (EU) 2016/1075 or the resolution authority when conducting a provisional valuation pursuant to paragraphs (2) and (9) of Article 36 of Directive 2014/59/EU.