Article 3, Paragraph 2., Point (a) · Commission Delegated Regulation (EU) 2025/1265

Contents

1. By way of derogation from Articles 1 and 2, institutions m…
2. For bonds which consist in fixed-rate debt instruments wit…
3. For bonds which consist in floating-rate debt instruments…
4. For a stock position, the main risk driver shall be the eq…
5. For a cash position in a currency different from the insti…
6. For positions in a physical commodity, the main risk drive…
7. For a position in a collective investment undertaking (CIU…
8. For a position in a repurchase transaction where the insti…

(a)institutions shall identify the main risk driver depending on the credit quality step and sector of the bond referred to in Article 325ah of Regulation (EU) No 575/2013 and the residual maturity of the bond, on the basis of either of the following:

(i)Table 1 in the Annex to this Regulation, where the cash flows of the bond are not functionally dependent on inflation rates;

(ii)Table 2 in the Annex to this Regulation, where the cash flows of the bond are functionally dependent on inflation rates;