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Application provision

1.1 This Part applies to every firm that is a CRR firm.

1.1

01/01/2014

This Part applies to every firm that is a CRR firm.

1.2

31/12/2020

In this Part, the following definitions shall apply:

equity exposures

means exposures that meet the criteria in either:

(1) Article 133 of the CRR; or 

(2) Article 147(6) of the CRR, if a firm has permission to use internal models in accordance with Chapter 3, Title II, Part Three of the CRR.

exposure

means an asset or off-balance sheet item as defined for credit risk purposes by Article 5(1) of the CRR.

loss

means economic loss, including material discount effects, and material direct and indirect costs associated with collecting on the instrument as defined for credit risk purposes by Article 5(2) of the CRR.

non-retail exposures

means exposures that are not retail exposures, in accordance with Commission Delegated Regulation (EU) 2018/171. 

retail exposures

means exposures that meet the criteria in either:

(1) Article 123 of the CRR; or 

(2) Article 147(5) of the CRR, if a firm has permission to use internal models in accordance with Chapter 3, Title II, Part Three of the CRR.

1.3

01/01/2014

Unless otherwise defined, any italicised expression used in this Part and in the  CRR has the same meaning as in the CRR.