LegalizeCommission Implementing Regulation (EU) 2021/763 of 23 April 2021 laying down implementing technical standards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council and Directive 2014/59/EU of the European Parliament and of the Council with regard to the supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (Text with EEA relevance)
| Columns | Legal references and instructions |
|---|---|
| a | Entities shall disclose in this column the relevant information on internal MREL in accordance with Articles 45 and 45f of Directive 2014/59/EU. |
| b | Entities that are material subsidiaries of non-EU G-SIIs pursuant to Article 92b of Regulation (EU) No 575/2013 shall disclose in this column the relevant information on internal TLAC in accordance with Article 92b of Regulation (EU) No 575/2013. |
| c | Qualitative information related to the applicable requirement and the level of application. |
| Row | Legal references and instructions |
| --- | --- |
| EU-1 | Is the entity subject to a non-EU G-SII requirement for own funds and eligible liabilities? (Y/N) Whether the entity is subject to an internal TLAC requirement pursuant to Article 92b of Regulation (EU) No 575/2013. |
| EU-2 | If EU-1 is answered by ‘Yes’, is the requirement applicable on a consolidated or individual basis? (C/I) Whether the entity is subject to the internal TLAC requirement on a consolidated or individual basis, pursuant to Article 18 of Regulation (EU) No 575/2013. Where the requirement is on a consolidated basis, this entire template shall be filled in on a consolidated basis. In all other cases this template shall be filled in on an individual basis. |
| EU-2a | Is the entity subject to an internal MREL? (Y/N) Whether the entity is subject to an MREL pursuant to Articles 45 and 45f of Directive 2014/59/EU. |
| EU-2b | If EU-2a is answered by ‘Yes’, is the requirement applicable on a consolidated or individual basis? (C/I) Whether the entity is subject to an internal MREL on a consolidated or individual basis. Where the requirement is on a consolidated basis, this entire template shall be filled in on a consolidated basis. In all other cases this template shall be filled in on an individual basis. |
| EU-3 | Common Equity Tier 1 capital (CET1) Article 50 of Regulation (EU) No 575/2013 CET1 capital, on an individual or consolidated basis, where applicable, in accordance with Article 50 of Regulation (EU) No 575/2013. |
| EU-4 | Eligible Additional Tier 1 capital Article 61 of Regulation (EU) No 575/2013 Additional Tier 1 instruments shall only be considered where they fulfil the criteria set out in Article 92b of Regulation (EU) No 575/2013 and in Article 45f(2), point (b)(ii), of Directive 2014/59/EU. In case of internal MREL, instruments referred to in Article 89(2), fourth subparagraph, of Directive 2014/59/EU shall be included where that paragraph applies. Instruments governed by the law of a third country shall only be included if they meet the requirements set out in Article 55 of Directive 2014/59/EU. |
| EU-5 | Eligible Tier 2 capital Article 71 of Regulation (EU) No 575/2013 Tier 2 instruments shall only be considered where they fulfil the criteria set out in Article 92b of Regulation (EU) No 575/2013 and in Article 45f(2), point (b)(ii), of Directive 2014/59/EU. In case of internal MREL, instruments referred to in Article 89(2), fourth subparagraph, of Directive 2014/59/EU shall be included where that paragraph applies. Instruments governed by the law of a third country shall only be included if they meet the requirements set out in Article 55 of Directive 2014/59/EU. |
| EU-6 | Eligible own funds Sum of CET1 capital, eligible Additional Tier 1 capital and eligible Tier 2 capital. |
| EU-7 | Eligible liabilities Internal MREL Eligible liabilities which fulfil the conditions set out in Article 45f(2) of Directive 2014/59/EU, considering also, where applicable, Article 89(2), fourth subparagraph, of that Directive. In case of instruments governed by the law of a third country, the instrument shall only be included in this row if it meets the requirements set out in Article 55 of Directive 2014/59/EU. Where the resolution authority of the subsidiary permits the entity to meet the internal MREL with guarantees, the amount of guarantees that are provided by the resolution entity and fulfil all the conditions set out in Article 45f(5) of Directive 2014/59/EU shall be included in this row as well. Internal TLAC The amount of eligible liabilities shall be calculated in accordance with Article 72k of Regulation (EU) No 575/2013 where those liabilites fulfil the conditions set out in Article 92b(2) of that Regulation. |
| EU-8 | Eligible liabilities – of which permitted guarantees Where the resolution authority of the subsidiary permits the entity to meet the internal MREL with guarantees, the amount of guarantees that are provided by the resolution entity and fulfil all the conditions set out in Article 45f(5) of Directive 2014/59/EU. |
| EU-9a | (Adjustments) Negative amount The following adjustments shall be disclosed in this row: — holdings of own funds instruments and eligible liabilities instruments that are to be deducted in accordance with Article 72e(5) of Regulation (EU) No 575/2013 or Article 45c(2a), fifth subpararaph, of Directive 2014/59/EU, — amounts covered by a permission to call, redeem, repay or repurchase eligible liabilities instruments in accordance with Article 78a of Regulation (EU) No 575/2013, to the extent the reporting entity has not yet used up that amount to call, redeem, repay or repurchase instruments (‘unused prior permission amounts’) |
| EU-9b | Own funds and eligible liabilities items after adjustments Internal MREL Amounts of eligible own funds and eligible liabilities of the entity, net of adjustments, counting towards internal MREL as set out in Article 45f(2) of Directive 2014/59/EU, considering also, where applicable, Article 89(2), fourth subparagraph, of that Directive. In case of instruments governed by the law of a third country, the instrument shall only be included in this row if it meets the requirements set out in Article 55 of Directive 2014/59/EU. To be calculated as row EU-6 plus row EU-7 plus row EU-9a. Internal TLAC Eligible own funds and eligible liabilities counting towards the requirement for own funds and eligible liabilities for non-EU G-SIIs as set out in Article 92b(2) of Regulation (EU) No 575/2013. To be calculated as row EU-6 plus row EU-7. |
| EU-10 | Total risk exposure amount (TREA) Total risk exposure amount of the individual entity or of the consolidated group at the level of which the requirements have been set, as applicable, in accordance with Article 18(1), second subparagraph, of Regulation (EU) No 575/2013. The total risk exposure amount reported in this row shall be the total risk exposure amount which is the basis for compliance with the requirements of Article 45 of Directive 2014/59/EU or Article 92b of Regulation (EU) No 575/2013, as applicable. |
| EU-11 | Total exposure measure (TEM) Total exposure measure (denominator of leverage ratio), of the individual entity or of the consolidated group at the level of which the requirements have been set, as applicable, in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013. The total exposure measure reported in this row shall be the total exposure measure which is the basis for compliance with the requirements set out in Article 45 of Directive 2014/59/EU or in Article 92b of Regulation (EU) No 575/2013, as applicable. |
| EU-12 | Own funds and eligible liabilities as a percentage of the TREA Own funds and eligible liabilities ratio, as a percentage of the total risk exposure amount. To be calculated as row EU-9b divided by row EU-10. |
| EU-13 | Own funds and eligible liabilities as a percentage of the TREA – of which permitted guarantees Where the resolution authority of the subsidiary permits the entity to meet the internal MREL with guarantees, the amount of the guarantees that are provided by the resolution entity and comply with the conditions set out in Article 45f(5) of Directive 2014/59/EU, as a percentage of the total risk exposure amount. To be calculated as row EU-8 divided by row EU-10. |
| EU-14 | Own funds and eligible liabilities as a percentage of the TEM Own funds and eligible liabilities ratio, as a percentage of the total exposure measure. To be calculated as row EU-9b divided by row EU-11. |
| EU-15 | Own funds and eligible liabilities as a percentage of the TEM – of which permitted guarantees Where the resolution authority of the subsidiary permits the entity to meet the internal MREL with guarantees, the amount of the guarantees that are provided by the resolution entity and comply with the conditions set out in Article 45f(5) of Directive 2014/59/EU, as a percentage of the total exposure measure. To be calculated as row EU-8 divided by row EU-11. |
| EU-16 | CET1 (as a percentage of the TREA) available after meeting the entity’s requirements The amount of CET1, equal to zero or positive, available after meeting each of the requirements referred to in Article 141a, points (a), (b) and (c), of Directive 2013/36/EU and the higher of: (a) where applicable, the non EU G-SII requirement for own funds and eligible liabilities pursuant to Article 92b of Regulation (EU) No 575/2013 when calculated in accordance with Article 92b(1) of Regulation (EU) No 575/2013 as 90 % of the requirement of Article 92a(1), point (a), of that Regulation; and (b) the minimum requirement for own funds and eligible liabilities pursuant to Article 45f of Directive 2014/59/EU, when calculated in accordance with Article 45(2), point (a), of that Directive. The disclosed figure shall be identical in both the MREL and TLAC columns. It shall take into account the effect of transitional provisions on the own funds and eligible liabilities, the total risk exposure amount and the requirements themselves. Neither the guidance on additional own funds as referred to in Article 104b of Directive 2013/36/EU nor the combined buffer requirement set out in Article 128, first paragraph, point (6), of that Directive shall be considered. |
| EU-17 | Institution-specific combined buffer requirement Institution-specific combined buffer requirement defined in Article 128, first paragraph, point (6), of Directive 2013/36/EU, expressed as a percentage of the total risk exposure amount, applicable to the entity in accordance with Article 128, first paragraph, point (6), of Directive 2013/36/EU. |
| EU-18 | Requirement expressed as a percentage of the TREA Internal MREL Requirement for own funds and eligible liabilities applicable to the entity in accordance with Article 45f of Directive 2014/59/EU, expressed as a percentage of the total risk exposure amount (at individual or at consolidated level, as applicable). Internal TLAC Requirement set out in Article 92b of Regulation (EU) No 575/2013, expressed as a percentage of the total risk exposure amount (at individual or at consolidated level, as applicable). |
| EU-19 | Requirement expressed as a percentage of the TREA – of which part of the requirement that may be met with a guarantee Where applicable, part of the requirement for own funds and eligible liabilities expressed as a percentage of the total risk exposure amount which can be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU. |
| EU-20 | Requirement expressed as a percentage of the TEM Internal MREL Requirement for own funds and eligible liabilities applicable to the entity in accordance with Article 45f of Directive 2014/59/EU, expressed as a percentage of the total exposure measure (at individual or at consolidated EU parent undertaking level, as applicable). Internal TLAC Requirement set out in Article 92b of Regulation (EU) No 575/2013, expressed as a percentage of the total exposure measure (at individual or at consolidated level, as applicable). |
| EU-21 | Requirement expressed as a percentage of the TEM – of which part of the requirement that may be met with a guarantee Where applicable, part of the requirement for own funds and eligible liabilities expressed as a percentage of the total exposure measure which can be met with a guarantee provided by the resolution entity, in accordance with Article 45f(5) of Directive 2014/59/EU. |
| EU-22 | Total amount of excluded liabilities referred to in Article 72a(2) of Regulation (EU) No 575/2013 |
5. EU TLAC2: Creditor ranking – entities that are not resolution entities themselves
- 8.The information included in template EU TLAC2 is disclosed at the level of the individual entity.
- 9.Template EU TLAC2 exists in two versions, EU TLAC2a and EU TLAC2b. TLAC2a captures all funding that is pari passu or junior to MREL-eligible instruments, including own funds and other capital instruments. EU TLAC2b captures only own funds and liabilities eligible to meet the requirement set out in Article 45 of Directive 2014/59/EU in accordance with Article 45f of that Directive.
- 10.In accordance with Article 13(2) of this Regulation, entities that are not subject to the obligation to comply with the requirement of Article 92b of Regulation (EU) No 575/2013, but are subject to the obligation to comply with the requirement set out in Article 45 of Directive 2014/59/EU in accordance with Article 45f of that Directive can choose whether they use EU TLAC2a or EU TLAC2b to comply with the disclosure requirement set out in Article 45i(3), point (b), of Directive 2014/59/EU.
- 11.From the date of application of Article 45i(3) of Directive 2014/59/EU, issuing entities shall disclose under template TLAC2a liabilities potentially eligible for meeting the internal MREL and internal TLAC requirements. Before that date, issuing entities shall disclose liabilities potentially eligible for meeting the internal TLAC requirement.
- 12.The outstanding amounts referred to in the rows have to be broken down into insolvency ranks on the basis of the insolvency law of the issuing entity, irrespective of the governing law of the instrument.
- 13.Insolvency rankings shall be those communicated by the competent resolution authority in compliance with the standardised presentation specified in Article 8 of this Regulation.
- 14.The ranks are presented from the most junior to the more senior. Columns for ranks have to be added until the most senior ranking potentially eligible instruments have been disclosed.
- 15.The amount attributable to each rank is further broken down into amounts owned by the resolution entity, including amounts owned directly or indirectly by the resolution entity through entities along the chain of ownership, where applicable; and other amounts not owned by the resolution entity, where applicable. The total amount of each row is filled into the last column of each row.
| Rows | Legal references and instructions |
|---|---|
| 1 | Empty set in the EU |
| 2 | Description of insolvency rank (free text) The number of insolvency ranks (n) in the creditor hierarchy will depend on the set of liabilities of the issuing entity. The description should include a specification of the types of claims that are within that insolvency rank (e.g. CET1, Tier 2 instruments). There is one column for each insolvency rank where the amount is held entirely by the resolution entity, including amounts owned directly or indirectly by the resolution entity through entities along the chain of ownership, where applicable, and a second column where a part of the amount per rank is also held by owners that are not the resolution entity. |
| 3 | Liabilities and own funds The amount of own funds, eligible liabilities and liabilities ranking lower than or pari passu with own funds or eligible liabilities. This shall include also liabilities excluded from bail-in. This row is not applicable in template EU TLAC2b. |
| 4 | Liabilities and own funds – of which excluded liabilities Breakdown of the liabilities excluded pursuant to Article 72a(2) of Regulation (EU) No 575/2013 or Article 44(2) of Directive 2014/59/EU and, where applicable, Article 44(3) of Directive 2014/59/EU. This row is not applicable in template EU TLAC2b. |
| 5 | Liabilities and own funds less excluded liabilities Liabilities and own funds net of excluded liabilities. This row is not applicable in template EU TLAC2b. |
| 6 | Subset of liabilities and own funds less excluded liabilities that are own funds and eligible liabilities for the purpose of internal MREL/internal TLAC Breakdown of the amount of own funds and eligible liabilities for the purpose of internal MREL or for the purpose of internal TLAC, as applicable in accordance with paragraph 11 above. |
| 7 | Of which residual maturity ≥ 1 year < 2 years Subset of row 6 with the relevant residual maturity. |
| 8 | Of which residual maturity ≥ 2 year < 5 years Subset of row 6 with the relevant residual maturity. |
| 9 | Of which residual maturity ≥ 5 years < 10 years Subset of row 6 with the relevant residual maturity. |
| 10 | Of which residual maturity ≥ 10 years, but excluding perpetual securities Subset of row 6 with the relevant residual maturity. |
| 11 | Of which perpetual securities Subset of row 6 that are perpetual securities. |
6. EU TLAC3: Creditor ranking – resolution entity
- 16.The information included in template EU TLAC3 is disclosed at the level of the individual entity.
- 17.Template EU TLAC3 exists in two versions, EU TLAC3a and EU TLAC3b. EU TLAC3a captures all funding that is pari passu or junior to instruments potentially eligible for MREL, including own funds and other capital instruments. Amounts that are ineligible solely as a result of subordination requirements shall be included in full in the row corresponding to the relevant insolvency rank, i.e. without applying the caps. EU TLAC3b captures only own funds and liabilities eligible to meet the requirement set out in Article 45 of Directive 2014/59/EU in accordance with Article 45e of that Directive.
- 18.In accordance with Article 14(2) of this Regulation, entities that are not subject to the obligation to comply with the requirement of Article 92a of Regulation (EU) No 575/2013, but are subject to the obligation to comply with the requirement set out in Article 45 of Directive 2014/59/EU in accordance with Article 45e of that Directive can choose whether they use EU TLAC3a or EU TLAC3b to comply with the disclosure requirement set out in Article 45i(3), point (b), of Directive 2014/59/EU.
- 19.From the date of application of Article 45i(3) of Directive 2014/59/EU, issuing entities shall disclose under template EU TLAC3a liabilities potentially eligible for meeting the MREL and TLAC requirements. Before that date, issuing entities shall disclose liabilities potentially eligible for meeting the internal TLAC requirement.
- 20.The outstanding amounts referred to in rows 2 to 10 have to be broken down into insolvency rank on the basis of the insolvency law of the issuing entity, irrespective of the governing law of the instrument.
- 21.The insolvency ranks shall be those communicated by the competent resolution authority in compliance with the standardised presentation specified in the relevant reporting template.
- 22.The ranks are presented from the most junior to the more senior. Columns for ranks have to be added until the most senior ranking potentially eligible instruments have been disclosed.
| Rows | Legal references and instructions |
|---|---|
| 1 | Description of insolvency rank (free text) The number of insolvency ranks (n) in the creditor hierarchy will depend on the set of liabilities of the entity. There is one column for each insolvency rank. The description should include a specification of the types of claims that are within that insolvency rank (e.g. CET1, Tier 2 instruments). |
| 2 | Liabilities and own funds The amount of own funds, eligible liabilities and liabilities ranking lower than or pari passu with own funds or eligible liabilities. This shall include also liabilities excluded from bail-in. This row is not applicable in template EU TLAC3b. |
| 3 | Liabilities and own funds – of which excluded liabilities Breakdown of the liabilities excluded pursuant to Article 72a(2) of Regulation (EU) No 575/2013 or Article 44(2) of Directive 2014/59/EU and, where applicable, Article 44(3) of that Directive. This row is not applicable in template EU TLAC3b. |
| 4 | Liabilities and own funds less excluded liabilities Liabilities and own funds net of excluded liabilities. This row is not applicable in template EU TLAC3b. |
| 5 | Subset of liabilities and own funds less excluded liabilities that are own funds and liabilities potentially eligible for meeting MREL/TLAC Breakdown of the amount of own funds and liabilities eligible for the purposes of MREL or for the purposes of TLAC, as applicable in accordance with paragraph 19 above, without application of the caps on the recognition of non-subordinated liabilities. |
| 6 | Of which residual maturity ≥ 1 year < 2 years Subset of row 5 with the relevant residual maturity. |
| 7 | Of which residual maturity ≥ 2 year < 5 years Subset of row 5 with the relevant residual maturity. |
| 8 | Of which residual maturity ≥ 5 years < 10 years Subset of row 5 with the relevant residual maturity. |
| 9 | Of which residual maturity ≥ 10 years, but excluding perpetual securities Subset of row 5 with the relevant residual maturity. |
| 10 | Of which perpetual securities Subset of row 5 that are perpetual securities. |
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Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).
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Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (OJ L 74, 14.3.2014, p. 8, ELI: http://data.europa.eu/eli/reg_del/2014/241/oj).
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