Amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securitisation exposures
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In interinstitutional negotiations (trilogues). Parliament and Council are working toward a provisional agreement, which would still need formal adoption to become law.
Last active 21 May 2026
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What this bill does
In plain terms: what it changes and who it affects.
This proposal lowers and refines bank capital rules for securitisation exposures to make EU securitisation easier while preserving risk controls.
Who it affects
It affects banks that originate, sponsor, or invest in securitisations, and indirectly businesses and households seeking credit. It also affects investors in securitised products.
Core of the proposal
- Introduces risk-sensitive floors for senior securitisation positions instead of flat 10% and 15% floors.
- Reduces and caps parts of the capital formula, especially for senior and resilient securitisation positions.
- Replaces existing significant-risk-transfer tests with a new test requiring transfer of at least 50% of unexpected losses.
- Requires originator self-assessments and cash-flow modelling to show effective risk transfer, including under stress.
Key provisions
- Takes effect
- It enters into force on the day specified in the final Regulation following publication in the Official Journal.
Articles changed · 41 across 1 law
- Regulation (EU) No 575/2013 (32013R0575)
- art. 238(2): adds subparagraph on positive incentive in time call options
- art. 242: replaces point (6) definition of senior securitisation position
- art. 243: replaces article title and amends criteria for differentiated capital treatment
- art. 243(2): replaces point (b)(ii) and deletes point (b)(iii)
- art. 243(3): adds eligibility criteria for senior positions in STS securitisations
- art. 243(4): adds eligibility criteria for senior positions in non-STS securitisations
- art. 243(5): adds WAL calculation rule for paragraphs 3 and 4
- art. 244: replaces Article 244 on traditional securitisation
- art. 245: replaces Article 245 on synthetic securitisation
- art. 248(1): replaces points (b), (d), (e) and deletes second to fourth subparagraphs
- art. 254(1): replaces point (c) on SEC-ERBA use
- art. 254(5): replaces paragraph on Internal Assessment Approach
- art. 255(6): replaces paragraph on KSA calculation
- art. 256(7): adds rule reducing outstanding balance for allocated losses
- art. 259: amends SEC-IRBA risk-weighted exposure calculation and KIRB mixed-pool formula
- art. 259(1a): inserts senior securitisation position risk-weight floor under SEC-IRBA
- art. 259(1b): inserts lower floor for positions meeting Article 243(4) criteria
- art. 259(7): replaces paragraph with revised mixed-pool capital charge formula
- art. 260: replaces Article 260 on STS securitisations under SEC-IRBA
- art. 261: amends SEC-SA calculation rules and defaulted exposure treatment
- art. 261(1a): inserts senior securitisation position floor under SEC-SA
- art. 261(1b): inserts lower floor for positions meeting Article 243(4) criteria
- art. 261(2): adds subparagraph defining nominal amount of underlying exposures in default
- art. 262: replaces Article 262 on STS securitisations under SEC-SA
- art. 263(2): replaces short-term credit assessment risk-weight table
- art. 263(2a): inserts CQS1 senior tranche risk weight for Article 243(4) securitisations
- art. 263(2b): inserts fallback 15% risk weight where KA cannot be calculated
- art. 263(3): replaces long-term credit assessment risk-weight table
- art. 263(3a): inserts CQS1/CQS2 senior tranche risk weight for Article 243(4) securitisations
- art. 263(3b): inserts fallback 15% risk weight where KA cannot be calculated
- art. 264(2): replaces short-term credit assessment risk-weight table for STS securitisations
- art. 264(2a): inserts CQS1 senior tranche risk weight for Article 243(3) securitisations
- art. 264(2b): inserts fallback 10% risk weight where KA cannot be calculated
- art. 264(3): replaces long-term credit assessment risk-weight table for STS securitisations
- art. 264(3a): inserts CQS1/CQS2 senior tranche risk weight for Article 243(3) securitisations
- art. 264(3b): inserts fallback 10% risk weight where KA cannot be calculated
- art. 268(1): replaces maximum capital requirement rule for securitisation positions
- art. 268(3): replaces V calculation and carve-out rule for certain tranches
- art. 270: deletes paragraphs 2, 3 and 4
- art. 506b: deletes Article 506b
- art. 506d: replaces Article 506d on prudential treatment review and EBA reporting
Latest update
05 Jun 2026The most recent development in this bill's progress.
Trilogues (interinstitutional negotiations) → Trilogues (interinstitutional negotiations)
Trilogues (interinstitutional negotiations) → Trilogues (interinstitutional negotiations)
Documents
1 recentSourcesOEILEUR-LexEU Law Tracker