title: Commission Implementing Regulation (EU) No 1323/2011 of 16 December 2011 laying down rules for the management and distribution of textile quotas established for the year 2012 under Council Regulation (EC) No 517/94

text:
               17.12.2011

               EN

               Official Journal of the European Union

               L 335/57

         COMMISSION IMPLEMENTING REGULATION (EU) No 1323/2011
   of 16 December 2011
   laying down rules for the management and distribution of textile quotas established for the year 2012 under Council Regulation (EC) No 517/94
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Council Regulation (EC) No 517/94 of 7 March 1994 on common rules for imports of textile products from certain third countries not covered by bilateral agreements, protocols or other arrangements, or by other specific Community import rules (1), and in particular Article 17(3) and (6) and Article 21(2) thereof,
   Whereas:

               (1)

               Regulation (EC) No 517/94 established quantitative restrictions on imports of certain textile products originating in certain third countries to be allocated on a first come, first served basis.

               (2)

               Under that Regulation it is possible, in certain circumstances, to use other allocation methods, to divide quotas into tranches, or to reserve a proportion of a specific quantitative limit exclusively for applications which are supported by evidence of the results of past import performance.

               (3)

               Rules for management of the quotas established for 2012 should be adopted before the quota year begins so that the continuity of trade flows is not affected unduly.

               (4)

               The measures adopted in previous years, such as those in Commission Regulation (EU) No 1159/2010 of 9 December 2010 laying down rules for the management and distribution of textile quotas established for the year 2011 under Council Regulation (EC) No 517/94 (2), proved to be satisfactory and it is therefore appropriate to adopt similar rules for 2012.

               (5)

               In order to satisfy the greatest possible number of operators it is appropriate to make the ‘first come, first served’ allocation method more flexible by placing a ceiling on the quantities which can be allocated to each operator by that method.

               (6)

               To guarantee a degree of continuity in trade and efficient quota administration, operators should be allowed to make their initial import authorisation application for 2012 equivalent to the quantity which they imported in 2011.

               (7)

               To achieve optimum use of the quantities, an operator who has used up at least one half of the amount already authorised should be permitted to apply for a further amount, provided that quantities are available in the quotas.

               (8)

               To secure a sound administration, import authorisations should be valid for 9 months from the date of issue but only until the end of the year at the latest. Member States should issue licences only after being notified by the Commission that quantities are available and only if an operator can prove the existence of a contract and can certify, in the absence of a specific provision to the contrary, that he has not already been allocated a Community import authorisation under this Regulation for the categories and countries concerned. The competent national authorities should, however, be authorised, in response to importers’ applications, to extend by 3 months and up to 31 March 2013 licences of which at least one half has been used by the application date.

               (9)

               The measures provided for in this Regulation are in accordance with the opinion of the Textile Committee established by Article 25 of Regulation (EC) No 517/94,

         HAS ADOPTED THIS REGULATION:
   Article 1
   The purpose of this Regulation is to lay down rules on the management of quantitative quotas for imports of certain textile products set out in Annex IV to Regulation (EC) No 517/94 for the year 2012.
   Article 2
   The quotas referred to in Article 1 shall be allocated according to the chronological order of receipt by the Commission of Member States’ notifications of applications from individual operators, for amounts not exceeding the maximum quantities per operator set out in Annex I.
   The maximum quantities shall not, however, apply to operators able to prove to the competent national authorities, when making their first application for 2012, that, in respect of given categories and given third countries, they imported more than the maximum quantities specified for each category pursuant to import licences granted to them for 2011.
   In the case of such operators, the competent authorities may authorise imports not exceeding the quantities imported in 2011 from given third countries and in given categories, provided that enough quota capacity is available.
   Article 3
   Any importer who has already used up 50 percent or more of the amount allocated to him under this Regulation may make a further application, in respect of the same category and country of origin, for amounts not exceeding the maximum quantities laid down in Annex I.
   Article 4
   1.   The competent national authorities listed in Annex II may, from 10 o’clock a.m. on 9 January 2012, notify the Commission of the amounts covered by requests for import authorisations.
   The time fixed in the first subparagraph shall be understood as Brussels time.
   2.   The competent national authorities shall issue authorisations only after being notified by the Commission pursuant to Article 17(2) of Regulation (EC) No 517/94 that quantities are available for importation.
   They shall issue authorisations only if an operator:

               (a)

               proves the existence of a contract relating to the provision of the goods; and

               (b)

               certifies in writing that, in respect of the categories and countries concerned:

                           (i)

                           the operator has not already been allocated an authorisation under this Regulation; or

                           (ii)

                           the operator has been allocated an authorisation under this Regulation but has used up at least 50 percent of it.

         3.   Import authorisations shall be valid for 9 months from the date of issue, but until 31 December 2012 at the latest.
   The competent national authorities may, however, at the importer’s request, grant a three-month extension for authorisations which are at least 50 percent used up at the time of the request. Such extension shall in no circumstances expire later than 31 March 2013.
   Article 5
   This Regulation shall enter into force on 1 January 2012.

      This Regulation shall be binding in its entirety and directly applicable in all Member States.
      Done at Brussels, 16 December 2011.

            For the Commission

            The President

         José Manuel BARROSO

      (1)  OJ L 67, 10.3.1994, p. 1.

      (2)  OJ L 326, 10.12.2010, p. 25.

      ANNEX I

         Maximum amounts referred to in Articles 2 and 3

                  Country concerned

                  Category

                  Unit

                  Maximum amount

                  Belarus

                  1

                  Kilograms

                  20 000

                  2

                  Kilograms

                  80 000

                  3

                  Kilograms

                  5 000

                  4

                  Pieces

                  20 000

                  5

                  Pieces

                  15 000

                  6

                  Pieces

                  20 000

                  7

                  Pieces

                  20 000

                  8

                  Pieces

                  20 000

                  15

                  Pieces

                  17 000

                  20

                  Kilograms

                  5 000

                  21

                  Pieces

                  5 000

                  22

                  Kilograms

                  6 000

                  24

                  Pieces

                  5 000

                  26/27

                  Pieces

                  10 000

                  29

                  Pieces

                  5 000

                  67

                  Kilograms

                  3 000

                  73

                  Pieces

                  6 000

                  115

                  Kilograms

                  20 000

                  117

                  Kilograms

                  30 000

                  118

                  Kilograms

                  5 000

                  North Korea

                  1

                  Kilograms

                  10 000

                  2

                  Kilograms

                  10 000

                  3

                  Kilograms

                  10 000

                  4

                  Pieces

                  10 000

                  5

                  Pieces

                  10 000

                  6

                  Pieces

                  10 000

                  7

                  Pieces

                  10 000

                  8

                  Pieces

                  10 000

                  9

                  Kilograms

                  10 000

                  12

                  Pairs

                  10 000

                  13

                  Pieces

                  10 000

                  14

                  Pieces

                  10 000

                  15

                  Pieces

                  10 000

                  16

                  Pieces

                  10 000

                  17

                  Pieces

                  10 000

                  18

                  Kilograms

                  10 000

                  19

                  Pieces

                  10 000

                  20

                  Kilograms

                  10 000

                  21

                  Pieces

                  10 000

                  24

                  Pieces

                  10 000

                  26

                  Pieces

                  10 000

                  27

                  Pieces

                  10 000

                  28

                  Pieces

                  10 000

                  29

                  Pieces

                  10 000

                  31

                  Pieces

                  10 000

                  36

                  Kilograms

                  10 000

                  37

                  Kilograms

                  10 000

                  39

                  Kilograms

                  10 000

                  59

                  Kilograms

                  10 000

                  61

                  Kilograms

                  10 000

                  68

                  Kilograms

                  10 000

                  69

                  Pieces

                  10 000

                  70

                  Pairs

                  10 000

                  73

                  Pieces

                  10 000

                  74

                  Pieces

                  10 000

                  75

                  Pieces

                  10 000

                  76

                  Kilograms

                  10 000

                  77

                  Kilograms

                  5 000

                  78

                  Kilograms

                  5 000

                  83

                  Kilograms

                  10 000

                  87

                  Kilograms

                  8 000

                  109

                  Kilograms

                  10 000

                  117

                  Kilograms

                  10 000

                  118

                  Kilograms

                  10 000

                  142

                  Kilograms

                  10 000

                  151A

                  Kilograms

                  10 000

                  151B

                  Kilograms

                  10 000

                  161

                  Kilograms

                  10 000

      ANNEX II

         List of licensing offices referred to in Article 4

      1.   Austria

                  Bundesministerium für Wirtschaft, Familie und Jugend

                  Außenwirtschaftsadministration

                  Abteilung C2/2

                  Stubenring 1A

                  1011 Wien, Österreich

                  Tel.: +43 171100-0

                  Fax: +43 171100-8386

            2.   Belgium

                  FOD Economie, kmo, Middenstand en Energie

                  Algemene Directie Economisch Potentieel

                  Dienst Vergunningen

                  Vooruitganstraat 50

                  1210 Brussel

                  Tel. +32 22776713

                  Fax +32 22775063

                  SPF Économie, PME, classes moyennes et énergie

                  Direction générale potentiel économique

                  Service licences

                  Rue du Progrès 50

                  1210 Bruxelles

                  BELGIQUE

                  Tél. +32 22776713

                  Fax +32 22775063

            3.   Bulgaria

                  Министерство на икономиката, енергетиката и туризма

                  Дирекция „Регистриране, лицензиране и контрол“

                  ул. „Славянска“ № 8

                  1052 София

                  Тел.: +359 29 40 7008/+359 29 40 7673/+359 29 40 7800

                  Факс: +359 29 81 5041/+359 29 80 4710/+359 29 88 3654

            4.   Cyprus

                  Ministry of Commerce, Industry and Tourism

                  Trade Department

                  6 Andrea Araouzou Str.

                  CY-1421 Nicosia

                  Τηλ. +357 2 867100

                  Φαξ +357 2 375120

            5.   Czech Republic

                  Ministerstvo průmyslu a obchodu

                  Licenční správa

                  Na Františku 32

                  CZ-110 15 Praha 1

                  Tel.: (420) 22490 7111

                  Fax: (420) 22421 2133

            6.   Denmark

                  Erhvervs- og Byggestyrelsen

                  Økonomi- og Erhvervsministeriet

                  Langelinje Allé 17

                  DK – 2100 København

                  Tlf. (45) 35 46 60 30

                  Fax (45) 35 46 60 29

            7.   Estonia

                  Majandus- ja Kommunikatsiooniministeerium

                  Harju 11

                  15072 Tallinn

                  EESTI/ESTONIA

                  Tel: +372 6256400

                  Faks: +372 6313660

            8.   Finland

                  Tullihallitus

                  PL 512

                  FI-00101 Helsinki

                  SUOMI

                  Puhelin: +358 96141

                  Faksi: +358 204922852

                  Tullstyrelsen

                  PB 512

                  FI-00101 Helsingfors

                  FINLAND

                  Faksi: +358 204922852

            9.   France

                  Ministère de l’économie, de l’industrie et de l’emploi

                  Direction générale de la compétitivité, de l’industrie et des services

                  Sous-direction «industries de santé, de la chimie et des nouveaux matériaux»

                  Bureau «matérieaux du futur et nouveaux procédés»

                  Le Bervil

                  12, rue Villiot

                  75572 Paris Cedex 12

                  FRANCE

                  Tél. + 33 153449026

                  Fax + 33 153449172

            10.   Germany

                  Bundesamt für Wirtschaft und Ausfuhrkontrolle (BAFA)

                  Frankfurter Str. 29-35

                  65760 Eschborn, Deutschland

                  Tel.: +49 6196-9080

                  Fax: +49 6196-908800

            11.   Greece

                  Υπουργείο Ανάπτυξης, Ανταγωνιστικότητας & Ναυτιλίας

                  Γενική Διεύθυνση Διεθνούς Οικονομικής Πολιτικής

                  Διεύθυνση Καθεστώτων Εισαγωγών-Εξαγωγών, Εμπορικής Άμυνας

                  Κορνάρου 1

                  GR-105 63 Αθήνα

                  Τηλ. +(30 210) 328 6021-22

                  Φαξ +(30 210) 328 60 94

            12.   Hungary

                  Magyar Kereskedelmi Engedélyezési Hivatal

                  Budapest

                  Németvölgyi út 37–39.

                  1124

                  MAGYARORSZÁG

                  Tel. +36 1458 5503

                  Fax + 36 1458 5814

                  E-mail: mkeh@mkeh.gov.hu

            13.   Ireland

                  Department of Enterprise, Trade and Employment

                  Internal Market

                  Kildare Street

                  IRL-Dublin 2

                  Tel. (353 1) 631 21 21

                  Fax (353 1) 631 28 26

            14.   Italy

                  Ministero dello Sviluppo economico

                  Dipartimento per l’impresa e l’internazionalizzazione

                  Direzione generale per la Politica commerciale internazionale

                  Divisione III — Politiche settoriali

                  Viale Boston, 25

                  I-00144 Roma

                  Tel. (39 06) 5964 7517, 5993 2202, 5993 2198

                  Fax (39 06) 5993 2263, 5993 2636

                  E-mail: polcom3@sviluppoeconomico.gov.it

            15.   Latvia

                  Ekonomikas ministrija

                  Brīvības iela 55

                  LV-1519 Rīga

                  Tālr.: + 371 670 132 99/+ 371 670 132 48

                  Fakss: + 371 672 808 82

            16.   Lithuania

                  Lietuvos Respublikos Ūkio ministerija

                  Gedimino pr. 38, Vasario 16-osios g. 2

                  LT-01104 Vilnius

                  Tel.: + 370 706 64 658/+ 370 706 64 808

                  Faks. + 370 706 64 762

            17.   Luxembourg

                  Ministère de l’économie et du commerce

                  Office des licences

                  Boîte postale 113

                  2011 Luxembourg

                  LUXEMBOURG

                  Tél. + 352 4782371

                  Fax + 352 466138

            18.   Malta

                  Il-Ministeru tal-Finanzi, l-Ekonomija u l-Investiment

                  Id-Dipartiment tal-Kummerċ, Id-Direttorat tas-Servizzi Kummerċjali

                  Lascaris

                  Valletta VLT 2000

                  Malta

                  Tel. 00 356 256 90 202

                  Fax 00 356 212 37 112

            19.   Netherlands

                  Belastingdienst/Douane

                  Centrale dienst voor in- en uitvoer

                  Kempkensberg 12

                  Postbus 30003

                  9700 RD Groningen

                  Tel. +31 881512122

                  Fax +31 881513182

            20.   Poland

                  Ministerstwo Gospodarki

                  Pl. Trzech Krzyży 3/5

                  PL-00-950 Warszawa

                  Tel.: 0048/22/693 55 53

                  Faks: 0048/22/693 40 21

            21.   Portugal

                  Ministério das Finanças

                  Direcção-Geral das Alfândegas e dos Impostos Especiais sobre o Consumo

                  Rua Terreiro do Trigo

                  Edifício da Alfândega

                  P-1149-060 LISBOA

                  Tel. (351-1) 218 814 263

                  Fax: (351-1) 218 814 261

                  E-mail: dsl@dgaiec.min-financas.pt

            22.   Romania

                  Ministerul Economiei,

                  Comerțului și Mediului de Afaceri

                  Direcția Generală Politici Comerciale

                  Str. Ion Câmpineanu, nr. 16

                  București, sector 1

                  Cod poștal 010036

                  Tel. +40 213150081

                  Fax +40 213150454

                  e-mail: clc@dce.gov.ro

            23.   Slovakia

                  Ministerstvo hospodárstva SR

                  Oddelenie licencií

                  Mierová 19

                  SK-827 15 Bratislava

                  Tel.: +421 24854 2021 / +421 2 4854 7119

                  Fax: + 421 24342 3919

            24.   Slovenia

                  Ministrstvo za finance

                  Carinska uprava Republike Slovenije

                  Carinski urad Jesenice

                  Center za TARIC in kvote

                  Spodnji plavž 6c

                  SLO-4270 Jesenice

                  Slovenija

                  Telefon: +386-4 2974470

                  Telefaks: +386-4 2974472

                  E-naslov: taric.cuje@gov.si

            25.   Spain

                  Ministerio de Industria, Turismo y Comercio

                  Dirección General de Comercio e Inversiones

                  Paseo de la Castellana no 162

                  E-28046 Madrid

                  Tel. (34 91) 349 38 17 / 349 38 74

                  Fax (34 91) 349 38 31

                  E-mail: sgindustrial.sscc@comercio.mityc.es

            26.   Sweden

                  National Board of Trade (Kommerskollegium)

                  Box 6803

                  113 86 Stockholm

                  Tfn +46 86904800

                  Fax +46 8306759

                  E-post: registrator@kommers.se

            27.   United Kingdom

                  Department for Business, Innovation and Skills

                  Import Licensing Branch

                  Queensway House – West Precinct

                  Billingham

                  UK-TS23 2NF

                  Tel. (44-1642) 36 43 33

                  Fax (44-1642) 36 42 69

                  E-mail: enquiries.ilb@bis.gsi.gov.uk


title: Commission Implementing Regulation (EU) 2016/200 of 15 February 2016 laying down implementing technical standards with regard to disclosure of the leverage ratio for institutions, according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance)

text:
               16.2.2016

               EN

               Official Journal of the European Union

               L 39/5

         COMMISSION IMPLEMENTING REGULATION (EU) 2016/200
   of 15 February 2016
   laying down implementing technical standards with regard to disclosure of the leverage ratio for institutions, according to Regulation (EU) No 575/2013 of the European Parliament and of the Council
   (Text with EEA relevance)
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (1), and in particular the third subparagraph of Article 451(2) thereof,
   Whereas:

               (1)

               The objective of uniform disclosure templates is to help improve transparency and comparability of leverage ratio figures. Therefore, rules for disclosure of the leverage ratio by institutions supervised under Directive 2013/36/EU of the European Parliament and of the Council (2) should be consistent with international standards as reflected in the Revised Basel III leverage ratio framework and disclosure requirements of the Basel Committee on Banking Supervision (BCBS) adapted to take into account the Union regulatory framework and its specificities, as laid down in Regulation (EU) No 575/2013.

               (2)

               For the same reasons of improving transparency and comparability of leverage ratio figures, it is appropriate that one of the templates for the disclosure of the leverage ratio provides a breakdown of leverage ratio total exposure measure sufficiently granular to identify the main composition of the leverage ratio, as well as the on-balance sheet exposure, which is usually the biggest part of the leverage ratio total exposure measure.

               (3)

               Article 429(2) of Regulation (EU) No 575/2013, as amended by Regulation (EU) 2015/62 (3), no longer requires the calculation of the leverage ratio as the simple arithmetic mean of the monthly leverage ratios over a quarter but only requires a calculation as at the end of the quarter. As a result, there should no longer be any need for competent authorities to provide the permission to calculate the end-of-quarter leverage ratio referred to in Article 499(3) of Regulation (EU) No 575/2013. Therefore, the uniform disclosure templates for the disclosure of the leverage ratio no longer need to include any specification about how the institution applies Article 499(3).

               (4)

               Where, in accordance with the second subparagraph of Article 13(1) of Regulation (EU) No 575/2013, institutions have the obligation to disclose any information on the leverage ratio at sub-consolidated level and in order to keep the administrative burden proportionate to the objectives of the rules on leverage ratio disclosure, rules on the leverage ratio disclosure should not require those institutions to complete and publish the template entitled ‘LRSpl’ at sub-consolidated level. This disclosure template is required to be completed and published at the consolidated level and its publication at sub-consolidated level would not provide any considerable added value, given that further breakdown of the total exposure measure for the sub-consolidated level is already provided via the completion of the template entitled ‘LRCom’. Furthermore, publication of the LRSpl template could add considerable burden on institutions as they cannot easily derive such a template from the respective supervisory reporting framework, which is not applicable at sub-consolidated level.

               (5)

               The scope of consolidation and the valuation methods for accounting purposes and for regulatory purposes can be different, and this results in differences between the information used in the calculation of the leverage ratio and the information used in the published financial statements. In order to reflect this discrepancy, it is also necessary to disclose the difference between the values in the financial statements and the values under the regulatory scope of consolidation of elements in the financial statements that are used to calculate the leverage ratio. Therefore, a reconciliation between the two should also be presented in a template.

               (6)

               To facilitate comparability of the information disclosed, a uniform template and detailed instructions should also be provided for the description and disclosure of processes used to manage the risk of excessive leverage, and factors that had an impact on the leverage ratio during the period to which the disclosed leverage ratio refers.

               (7)

               Article 451(1) of Regulation (EU) No 575/2013 started to apply from 1 January 2015. To ensure that the obligation to disclose the information related to the leverage ratio is carried out by institutions in an effective and harmonised manner across the Union the soonest possible, it is necessary to require that institutions use the templates for disclosure of such information at the earliest possible date.

               (8)

               This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority to the European Commission.

               (9)

               The European Banking Authority has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council (4),

         HAS ADOPTED THIS REGULATION:
   Article 1
   Disclosure of the leverage ratio and application of Article 499(2) of Regulation (EU) No 575/2013
   Institutions shall disclose the relevant information regarding the leverage ratio and the application of Article 499(2) of Regulation (EU) No 575/2013, as referred to in point (a) of Article 451(1) of that Regulation, by completing and publishing rows 22 and EU-23 of the template entitled ‘LRCom’ set out in Annex I in accordance with the instructions set out in Annex II.
   Article 2
   Change of the decision on which leverage ratio to disclose
   1.   Where, in accordance with Article 499(2) of Regulation (EU) No 575/2013, institutions change their choice of leverage ratio to be disclosed, they shall disclose the reconciliation of the information on all leverage ratios disclosed up to the moment of that change by completing and publishing the templates entitled ‘LRSum’, ‘LRCom’, ‘LRSpl’ and ‘LRQua’ set out in Annex I for each of the reference dates corresponding to the leverage ratios disclosed up to the moment of the change.
   2.   Institutions shall disclose the items referred to in paragraph 1 in the first disclosure that occurs after the change of choice of leverage ratio.
   Article 3
   Breakdown of the leverage ratio total exposure measure
   1.   Institutions shall disclose the breakdown of the leverage ratio total exposure measure, as referred to in point (b) of Article 451(1) of Regulation (EU) No 575/2013, by completing and publishing both of the following:

               (a)

               rows 1 to EU-19b of the template entitled ‘LRCom’ set out in Annex I in accordance with the instructions set out in in Annex II;

               (b)

               rows EU-1 to EU-12 of the template entitled ‘LRSpl’ set out in Annex I in accordance with the instructions set out in in Annex II.

         2.   By way of derogation from paragraph 1(b), where institutions are required, by virtue of the second subparagraph of Article 13(1) of Regulation (EU) No 575/2013 to disclose information on a sub-consolidated basis, they shall not be required to complete and publish the template entitled ‘LRSpl’ of Annex I on a sub-consolidated basis.
   Article 4
   Reconciliation of leverage ratio to published financial statements
   1.   Institutions shall disclose the reconciliation of the leverage ratio total exposure measure to the relevant information in published financial statements, as referred to in point (b) of Article 451(1) of Regulation (EU) No 575/2013, by completing and publishing the template entitled ‘LRSum’ set out in Annex I in accordance with the instructions set out in Annex II.
   2.   Where institutions do not publish financial statements at the level of application referred to in paragraph 6 of Part 1 of Annex II they shall not be required to complete and publish the template entitled ‘LRSum’ set out in Annex I.
   Article 5
   Disclosure of the amount of derecognised fiduciary items
   Institutions shall disclose, where applicable, the amount of derecognised fiduciary items, as referred to in point (c) of Article 451(1) of Regulation (EU) No 575/2013, by completing and publishing row EU-24 of the template entitled ‘LRCom’ set out in Annex I, in accordance with the instructions in Annex II.
   Article 6
   Disclosure of qualitative information on risk of excessive leverage and factors impacting the leverage ratio
   Institutions shall disclose the description of the processes used to manage the risk of excessive leverage and of the factors that have had an impact on the leverage ratio during the period to which the disclosed leverage ratio refers, as referred to in points (d) and (e) of Article 451(1) of Regulation (EU) No 575/2013, by completing and publishing the template entitled ‘LRQua’ set out in Annex I in accordance with the instructions set out in Annex II.
   Article 7
   Entry into force
   This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.

      This Regulation shall be binding in its entirety and directly applicable in all Member States.
      Done at Brussels, 15 February 2016.

            For the Commission

            The President

         Jean-Claude JUNCKER

      (1)  OJ L 176, 27.6.2013, p. 1.

      (2)  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).

      (3)  Commission Delegated Regulation (EU) 2015/62 of 10 October 2014 amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio (OJ L 11, 17.1.2015, p. 37).

      (4)  Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).

      ANNEX I

         CRR Leverage Ratio — Disclosure Template

                  Reference date

                  Entity name

                  Level of application

         Table LRSum: Summary reconciliation of accounting assets and leverage ratio exposures

                     Applicable Amount

                  1

                  Total assets as per published financial statements

                  2

                  Adjustment for entities which are consolidated for accounting purposes but are outside the scope of regulatory consolidation

                  3

                  (Adjustment for fiduciary assets recognised on the balance sheet pursuant to the applicable accounting framework but excluded from the leverage ratio total exposure measure in accordance with Article 429(13) of Regulation (EU) No 575/2013)

                  4

                  Adjustments for derivative financial instruments

                  5

                  Adjustment for securities financing transactions (SFTs)

                  6

                  Adjustment for off-balance sheet items (ie conversion to credit equivalent amounts of off-balance sheet exposures)

                  EU-6a

                  (Adjustment for intragroup exposures excluded from the leverage ratio total exposure measure in accordance with Article 429(7) of Regulation (EU) No 575/2013)

                  EU-6b

                  (Adjustment for exposures excluded from the leverage ratio total exposure measure in accordance with Article 429(14) of Regulation (EU) No 575/2013)

                  7

                  Other adjustments

                  8

                     Leverage ratio total exposure measure

         Table LRCom: Leverage ratio common disclosure

                     CRR leverage ratio exposures

                     On-balance sheet exposures (excluding derivatives and SFTs)

                  1

                  On-balance sheet items (excluding derivatives, SFTs and fiduciary assets, but including collateral)

                  2

                  (Asset amounts deducted in determining Tier 1 capital)

                  3

                     Total on-balance sheet exposures (excluding derivatives, SFTs and fiduciary assets) (sum of lines 1 and 2)

                     Derivative exposures

                  4

                  Replacement cost associated with all derivatives transactions (ie net of eligible cash variation margin)

                  5

                  Add-on amounts for PFE associated with all derivatives transactions (mark-to-market method)

                  EU-5a

                  Exposure determined under Original Exposure Method

                  6

                  Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the applicable accounting framework

                  7

                  (Deductions of receivables assets for cash variation margin provided in derivatives transactions)

                  8

                  (Exempted CCP leg of client-cleared trade exposures)

                  9

                  Adjusted effective notional amount of written credit derivatives

                  10

                  (Adjusted effective notional offsets and add-on deductions for written credit derivatives)

                  11

                     Total derivatives exposures (sum of lines 4 to 10)

                     SFT exposures

                  12

                  Gross SFT assets (with no recognition of netting), after adjusting for sales accounting transactions

                  13

                  (Netted amounts of cash payables and cash receivables of gross SFT assets)

                  14

                  Counterparty credit risk exposure for SFT assets

                  EU-14a

                  Derogation for SFTs: Counterparty credit risk exposure in accordance with Articles 429b(4) and 222 of Regulation (EU) No 575/2013

                  15

                  Agent transaction exposures

                  EU-15a

                  (Exempted CCP leg of client-cleared SFT exposure)

                  16

                     Total securities financing transaction exposures (sum of lines 12 to 15a)

                     Other off-balance sheet exposures

                  17

                  Off-balance sheet exposures at gross notional amount

                  18

                  (Adjustments for conversion to credit equivalent amounts)

                  19

                     Other off-balance sheet exposures (sum of lines 17 and 18)

                     Exempted exposures in accordance with Article 429(7) and (14) of Regulation (EU) No 575/2013 (on and off balance sheet)

                  EU-19a

                  (Intragroup exposures (solo basis) exempted in accordance with Article 429(7) of Regulation (EU) No 575/2013 (on and off balance sheet))

                  EU-19b

                  (Exposures exempted in accordance with Article 429 (14) of Regulation (EU) No 575/2013 (on and off balance sheet))

                     Capital and total exposure mesure

                  20

                     Tier 1 capital

                  21

                     Leverage ratio total exposure measure (sum of lines 3, 11, 16, 19, EU-19a and EU-19b)

                     Leverage ratio

                  22

                     Leverage ratio

                     Choice on transitional arrangements and amount of derecognised fiduciary items

                  EU-23

                  Choice on transitional arrangements for the definition of the capital measure

                  EU-24

                  Amount of derecognised fiduciary items in accordance with Article 429(11) of Regulation (EU) No 575/2013

         Table LRSpl: Split-up of on balance sheet exposures (excluding derivatives, SFTs and exempted exposures)

                     CRR leverage ratio exposures

                  EU-1

                  Total on-balance sheet exposures (excluding derivatives, SFTs, and exempted exposures), of which:

                  EU-2

                  Trading book exposures

                  EU-3

                  Banking book exposures, of which:

                  EU-4

                  Covered bonds

                  EU-5

                  Exposures treated as sovereigns

                  EU-6

                  Exposures to regional governments, MDB, international organisations and PSE
                        not
                      treated as sovereigns

                  EU-7

                  Institutions

                  EU-8

                  Secured by mortgages of immovable properties

                  EU-9

                  Retail exposures

                  EU-10

                  Corporate

                  EU-11

                  Exposures in default

                  EU-12

                  Other exposures (eg equity, securitisations, and other non-credit obligation assets)

         CRR Leverage Ratio — Disclosure Template

         Table LRQua: Free format text boxes for disclosure on qualitative items

                     Column

                  Free format

                     Row

                  1

                  Description of the processes used to manage the risk of excessive leverage

                  2

                  Description of the factors that had an impact on the leverage Ratio during the period to which the disclosed leverage Ratio refers

      ANNEX II

         INSTRUCTIONS FOR THE COMPLETION OF THE TEMPLATES IN ANNEX I

         PART 1: GENERAL INSTRUCTIONS

      1.   Conventions and reference data

      1.1.   Conventions

                  1.

                  The following general notation is followed in the instructions: {Template;Row}.

                  2.

                  The following notation is followed where the instructions cross refer to cell(s) in Annex XI of Commission Implementing Regulation (EU) No 680/2014: {Annex XI SupRep;Template;Row;Column}.

                  3.

                  For the purpose of the disclosure of the leverage ratio, ‘of which’ shall refer to an item that is a subset of a higher level exposure category.

                  4.

                  Just as is the case for the entire titles of these rows, institutions shall disclose the values in rows {LRCom;2}, {LRCom;7}, {LRCom;8}, {LRCom;10}, {LRCom;13}, {LRCom;EU-15a}, {LRCom;18}, {LRCom;EU-19a}, and {LRCom;EU-19b} between brackets as the values disclosed in these rows reduce the leverage ratio exposure. Institutions shall ensure that these values contribute negatively to the sums to be disclosed in {LRCom;3}, {LRCom;11}, {LRCom;16}, {LRCom;19}, and {LRCom;21}.

            1.2.   Reference data

                  5.

                  In the cell ‘Reference date’ institutions shall insert the date which all information that they disclose in templates LRSum, LRCom and LRSpl refer to. This date shall be the last calendar day of the third month of the respective quarter.

                  6.

                  In the cell ‘Entity name’ institutions shall insert the name of the entity to which the data provided in templates LRSum, LRCom, LRSpl, and LRQua refer.

                  7.

                  In the cell ‘Level of application’ institutions shall indicate the level of application that forms the basis for the data provided in the templates. When completing this cell institutions shall select one of the following:

                              —

                              Consolidated

                              —

                              Individual

                              —

                              Subconsolidated

            1.3.   Reference data

                  8.

                  For the purposes of this annex and related templates the following abbreviations are used:

                              —

                              CRR, which is an abbreviation of Capital Requirements Regulation and shall mean Regulation (EU) No 575/2013.

                              —

                              SFT, which is an abbreviation of Securities Financing Transaction and shall mean ‘repurchase transactions, securities or commodities lending or borrowing transactions, long settlement transactions and margin lending transactions’ of Regulation (EU) No 575/2013.

         PART 2: TEMPLATE-SPECIFIC INSTRUCTIONS

      2.   Template LRSum: Summary reconciliation of accounting assets and leverage ratio exposures

                  9.

                  Institutions shall apply the instructions provided in this section in order to complete template LRSum of Annex I.

                              Legal references and instructions

                                 Row

                              {1}

                                 Total assets as per published financial statements

                              Institutions shall disclose the total assets as published in their financial statements under the applicable accounting framework as defined in Article 4(1)(77) of Regulation (EU) No 575/2013.

                              {2}

                                 Adjustment for entities which are consolidated for accounting purposes but are outside the scope of regulatory consolidation

                              Institutions shall disclose the difference in value between the leverage ratio exposure as disclosed in {LRSum;8} and total accounting assets as disclosed in {LRSum;1} that results from differences between the accounting scope of consolidation and the regulatory scope of consolidation.
                              If this adjustment leads to an increase in exposure, institutions shall disclose this as a positive amount. If this adjustment leads to a decrease in exposure, institutions shall disclose this as a negative amount.

                              {3}

                                 (Adjustment for fiduciary assets recognised on the balance sheet pursuant to the applicable accounting framework but excluded from the leverage ratio total exposure measure in accordance with Article 429(13) of Regulation (EU) No 575/2013)

                              Institutions shall disclose the amount of derecognised fiduciary items in accordance with Article 429(13) of Regulation (EU) No 575/2013.
                              As this adjustment reduces the total leverage ratio total exposure measure, institutions shall place the value disclosed in this row between brackets (which signifies a negative amount).

                              {4}

                                 Adjustment for derivative financial instruments

                              For credit derivatives and contracts listed in Annex II of Regulation (EU) No 575/2013, institutions shall disclose the difference in value between the accounting value of the derivatives recognised as assets and the leverage ratio exposure value as determined by application of Article 429(4)(b), Article 429(9) in conjunction with Article 429a, 429(11)(a) and (b) and 429(12) and of Regulation (EU) No 575/2013.
                              If this adjustment leads to an increase in exposure, institutions shall disclose this as a positive amount. If this adjustment leads to a decrease in exposure, institutions shall place this amount between brackets (which signifies a negative amount).

                              {5}

                                 Adjustment for securities financing transactions (SFTs)

                              For SFTs institutions shall disclose the difference in value between the accounting value of the SFTs recognised as assets and the leverage ratio exposure value as determined by application of Article 429(4)(a) and (c) in conjunction with Article 429b, Articles 429(5)(c) and (d), 429 (8), and 429 (11)(c)-(f) of Regulation (EU) No 575/2013.
                              If this adjustment leads to an increase in the exposure, institutions shall disclose this as a positive amount. If this adjustment leads to a decrease in exposure, institutions shall place this amount between brackets (which signifies a negative amount).

                              {6}

                                 Adjustment for off-balance sheet items (i.e. conversion to credit equivalent amounts of off-balance sheet exposures)

                              Institutions shall disclose the difference in value between the leverage ratio exposure as disclosed in {LRSum;8} and total accounting assets as disclosed in {LRSum;1} that results from the inclusion of off-balance sheet items in the leverage ratio total exposure measure.
                              As this adjustment increases the leverage ratio total exposure measure, it shall be disclosed as a positive amount.

                              {EU-6a}

                                 (Adjustment for exempted intragroup exposures excluded from the leverage ratio total exposure measure in accordance with Article 429(7) of Regulation (EU) No 575/2013)

                              Articles 429(7), 113(6) of Regulation (EU) No 575/2013
                              Institutions shall disclose the on balance sheet portion of exposures excluded from the leverage ratio total exposure measure in accordance with 429(7) of Regulation (EU) No 575/2013 provided that all the conditions set out in points (a) to (e) of Article 113(6) of Regulation (EU) No 575/2013 are met and where the competent authorities have given their approval.
                              As this adjustment reduces the leverage ratio total exposure measure, institutions shall place the value disclosed in this row between brackets (which signifies a negative amount).

                              {EU-6b}

                                 (Adjustment for exposures excluded from the leverage ratio total exposure measure in accordance with Article 429(14) of Regulation (EU) No 575/2013)

                              Article 429(14) of Regulation (EU) No 575/2013
                              Institutions shall disclose the on balance sheet portion of exposures excluded from the leverage ratio total exposure measure in accordance with Article 429(14) of Regulation (EU) No 575/2013 subject to the therein stated conditions being met and where the competent authorities have given their approval.
                              As this adjustment reduces the leverage ratio total exposure measure, institutions shall place the values disclosed in this row between brackets (which signifies a negative amount).

                              {7}

                                 Other adjustments

                              Institutions shall include any remaining difference in value between the leverage ratio exposure as disclosed in {LRSum;8} and total accounting assets as disclosed in {LRSum;1} that is not included in {LRSum;2}, {LRSum;3}, {LRSum;4}, {LRSum;5}, {LRSum;6}, {LRSum;EU-6a}, or {LRSum;EU-6b}. This may include, for example, the asset amounts that are deducted from Tier 1 capital and that are therefore subtracted from the leverage ratio total exposure measure as per {LRCom;2}
                              If these adjustments lead to an increase in the exposure, institutions shall report this as a positive amount. If these adjustments lead to a decrease in exposure, the institutions shall place this amount between brackets (which signifies a negative amount).

                              {8}

                                 Leverage ratio total exposure measure

                              Institutions shall disclose the amount disclosed in {LRCom;21}.

            3.   Template LRCom: Leverage ratio common disclosure

                  10.

                  Institutions shall apply the instructions provided in this section in order to complete template LRCom of Annex I.

                                 Row

                                 Legal references and instructions

                              {1}

                                 On-balance sheet items (excluding derivatives, SFTs and fiduciary assets, but including collateral)

                              Article 429 of Regulation (EU) No 575/2013
                              Institutions shall disclose all assets other than contracts listed in Annex II of Regulation (EU) No 575/2013, credit derivatives, SFTs and fiduciary assets in accordance with Article 429(13) of Regulation (EU) No 575/2013. Institutions shall base the valuation of these assets on the principles set out in Article 429(5) of Regulation (EU) No 575/2013.
                              Institutions shall include in this cell cash received or any security that is provided to a counterparty via SFTs and that is retained on the balance sheet (i.e. the accounting criteria for derecognition under the applicable accounting framework are not met).

                              {2}

                                 (Asset amounts deducted in determining Tier 1 capital)

                              Article 429(4)(a) and Article 499(2) of Regulation (EU) No 575/2013
                              Institutions shall disclose the amount of regulatory value adjustments made to Tier 1amounts in accordance with the choice made pursuant to Article 499(2) of Regulation (EU) No 575/2013, as disclosed in {LRCom;EU-23}.
                              More specifically, institutions shall disclose the value of the sum of all the adjustments that target the value of an asset and which are required by:

                                          —

                                          Articles 32 to 35 of Regulation (EU) No 575/2013, or

                                          —

                                          Articles 36 to 47 of Regulation (EU) No 575/2013, or

                                          —

                                          Articles 56 to 60 of Regulation (EU) No 575/2013,

                                    as applicable.
                              Where the choice to disclose Tier 1 capital is made in accordance with Article 499(1)(a) of Regulation (EU) No 575/2013, institutions shall take into account the exemptions, alternatives and waivers to such deductions laid down in Articles 48, 49 and 79 of Regulation (EU) No 575/2013, without taking into account the derogation laid down in Chapters 1 and 2 of Title I of Part Ten of Regulation (EU) No 575/2013. In contrast, where the choice to disclose Tier 1 capital is made in accordance with Article 499(1)(b) of Regulation (EU) No 575/2013, institutions shall take into account exemptions, alternatives and waivers to such deductions laid down in Articles 48, 49 and 79 of REGULATION (EU) No 575/2013, in addition to taking into account the derogations laid down in Chapter 1 and 2 of Title I of Part Ten of Regulation (EU) No 575/2013
                              To avoid double counting, institutions shall not report adjustments already applied pursuant to Article 111 of Regulation (EU) No 575/2013 when calculating the exposure value in rows 1, 4 and, 12 nor shall they report any adjustment that does not deduct the value of a specific asset.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;3}).

                              {3}

                                 Total on-balance sheet exposures (excluding derivatives, SFTs and fiduciary assets) (sum of lines 1 and 2)

                              The sum of {LRCom;1} and {LRCom;2}. Institutions shall take into account that {LRCom;2} contributes negatively to this sum.

                              {4}

                                 Replacement cost associated with all derivatives transactions (i.e. net of eligible cash variation margin)

                              Articles 274, 295, 296, 297, 298, 429a and 429a(3) of Regulation (EU) No 575/2013
                              Institutions shall disclose the current replacement cost as specified in Article 274(1) of contracts listed in Annex II of Regulation (EU) No 575/2013 and credit derivatives including those that are off-balance sheet. These replacement costs shall be net of eligible cash variation margin in accordance with Article 429a(3) of Regulation (EU) No 575/2013 whereas any cash variation margin received on an exempted CCP leg in accordance with Article 429(11) of Regulation (EU) No 575/2013 shall not be included.
                              As determined by Article 429a(1) of Regulation (EU) No 575/2013, institutions may take into account the effects of contracts for novation and other netting agreements in accordance with Article 295 of Regulation (EU) No 575/2013. Cross-product netting shall not apply. However, institutions may net within the product category referred to in point (25)(c) of Article 272 of Regulation (EU) No 575/2013 and credit derivatives when they are subject to a contractual cross-product netting agreement referred to in Article 295(c) of Regulation (EU) No 575/2013.
                              Institutions shall include all credit derivatives, not solely those in the trading book.
                              Institutions shall not include in this cell contracts measured by application of the Original Exposure Method in accordance with Articles 429a(8) and 275 of Regulation (EU) No 575/2013.

                              {5}

                                 Add-on amount for PFE associated with all derivatives transactions (mark-to-market method)

                              Articles 274, 295, 296, 297, 298, 299 (2) and 429a of Regulation (EU) No 575/2013
                              Institutions shall disclose the add-on for the potential future exposure of contracts listed in Annex II of Regulation (EU) No 575/2013 and of credit derivatives including those that are off-balance sheet calculated in accordance with the Mark-to-market Method (Article 274 of Regulation (EU) No 575/2013 for contracts listed in Annex II of Regulation (EU) No 575/2013 and Article 299(2) of Regulation (EU) No 575/2013 for credit derivatives) and applying netting rules in accordance with Article 429a(1) of Regulation (EU) No 575/2013. In determining the exposure value of those contracts, institutions may take into account the effects of contracts for novation and other netting agreements in accordance with Article 295 of Regulation (EU) No 575/2013. Cross-product netting shall not apply. However, institutions may net within the product category referred to in point (25)(c) of Article 272 of Regulation (EU) No 575/2013 and credit derivatives when they are subject to a contractual cross-product netting agreement referred to in Article 295(c) of Regulation (EU) No 575/2013.
                              In accordance with Article 429a(1), subparagraph 2 of Regulation (EU) No 575/2013, when determining the potential future credit exposure of credit derivatives, institutions shall apply the principles laid down in Article 299(2)(a) of Regulation (EU) No 575/2013 to all their credit derivatives, not just those assigned to the trading book.
                              Institutions shall not include in this cell contracts measured by application of the Original Exposure Method in accordance with Articles 429a(8) and 275 of Regulation (EU) No 575/2013.

                              {EU-5a}

                                 Exposure determined under Original Exposure Method

                              Articles 429a(8) and 275 of Regulation (EU) No 575/2013
                              Institutions shall disclose the exposure measure of contracts listed in points 1 and 2 of Annex II of Regulation (EU) No 575/2013 calculated in accordance with the Original Exposure Method set out in Article 275 of Regulation (EU) No 575/2013.
                              Institutions that apply the Original Exposure Method shall not reduce the exposure measure by the amount of variation margin received in cash in accordance with Article 429a(8) of Regulation (EU) No 575/2013.
                              Institutions that do not use the Original Exposure Method shall not report this cell.
                              Institutions shall not include in this cell contracts measured by application of the Mark-to-market method in accordance with Articles 429a(1) and 274 of Regulation (EU) No 575/2013.

                              {6}

                                 Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the applicable accounting framework

                              Article 429a(2) of Regulation (EU) No 575/2013
                              Institutions shall disclose the amount of any derivatives collateral provided where the provision of that collateral reduces the amount of assets under the applicable accounting framework, as set out in Article 429a(2) of Regulation (EU) No 575/2013.
                              Institutions shall not include in this cell initial margin for client-cleared derivative transactions with a qualifying CCP (QCCP) or eligible cash variation margin, as defined in Article 429a(3) of Regulation (EU) No 575/2013.

                              {7}

                                 (Deductions of receivables assets for cash variation margin provided in derivatives transactions)

                              Article 429a(3) of Regulation (EU) No 575/2013
                              Institutions shall disclose the receivables for variation margin paid in cash to the counterparty in derivatives transactions if the institution is required, under the applicable accounting framework, to recognise these receivables as an asset, provided that the conditions in points (a) to (e) of Article 429a(3) of Regulation (EU) No 575/2013 are met.
                              The amount disclosed shall also be included in {LRCom;1}.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;11}).

                              {8}

                                 (Exempted CCP leg of client-cleared trade exposures)

                              Article 429(11) of Regulation (EU) No 575/2013
                              Institutions shall disclose the exempted trade exposures to a QCCP from client-cleared derivatives transactions, provided that those items meet the conditions laid down in Article 306(1)(c) of Regulation (EU) No 575/2013.
                              The part of the above-mentioned amount which is associated with the replacement cost shall be disclosed gross of cash variation margin.
                              The amount disclosed shall also be included, correspondingly, in: {LRCom;1}, {LRCom;4}, {LRCom;5}, and {LRCom;EU-5a}.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;11}).

                              {9}

                                 Adjusted effective notional amount of written credit derivatives

                              Article 429a(5) to (7) of Regulation (EU) No 575/2013
                              Institutions shall disclose the capped notional value of written credit derivatives (i.e. where the institution is providing credit protection to a counterparty) as set out in Article 429a(5) to (7) of Regulation (EU) No 575/2013.

                              {10}

                                 (Adjusted effective notional offsets and add-on deductions for written credit derivatives)

                              Article 429a(5) to (7) of Regulation (EU) No 575/2013
                              Institutions shall disclose the capped notional value of purchased credit derivatives (i.e. where the institution is buying credit protection from a counterparty) on the same reference names as those credit derivatives written by the institution, where the remaining maturity of the purchased protection is equal to or greater than the remaining maturity of the sold protection. Hence, the value shall not be greater than the value entered in {LRCom;9} for each reference name.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;11}).

                              {11}

                                 Total derivatives exposures (sum of lines 4 to 10)

                              Sum of {LRCom;4}, {LRCom;5}, {LRCom;EU-5a}, {LRCom;6}, {LRCom;7}, {LRCom;8}, {LRCom;9} and {LRCom;10}. Institutions shall take into account that {LRCom;7}, {LRCom;8}, and {LRCom;10} contribute negatively to this sum.

                              {12}

                                 Gross SFT assets (with no recognition of netting), after adjusting for sales accounting transactions

                              Articles 4(1)(77), 206 and 429b(5) of Regulation (EU) No 575/2013
                              Institutions shall disclose the accounting balance sheet value under the applicable accounting framework of SFTs that are both covered and not covered by a master netting agreement eligible under Article 206 of Regulation (EC) No 575/2013 where the contracts are recognised as assets on the balance sheet assuming no prudential or accounting netting or risk mitigation effects (i.e. the accounting balance sheet value adjusted for the effects of accounting netting or risk mitigation).
                              Furthermore, where sale accounting is achieved for a SFT under the applicable accounting framework, institutions shall reverse all sales-related accounting entries in accordance with Article 429b(5) of Regulation (EU) No 575/2013.
                              Institutions shall not include in this cell cash received or any security that is provided to a counterparty via the aforementioned transactions and is retained on the balance sheet (i.e. the accounting criteria for derecognition are not met).

                              {13}

                                 (Netted amounts of cash payables and cash receivables of gross SFT assets)

                              Articles 4(1)(77), 206, 429(5)(d), 429(8) and 429b(5) of Regulation (EU) No 575/2013
                              Institutions shall disclose the cash payables amount of gross SFT assets that have been netted in accordance with Article 429(8) of Regulation (EU) No 575/2013
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;16}).

                              {14}

                                 Counterparty credit risk exposure for SFT assets

                              Article 429b(1) of Regulation (EU) No 575/2013
                              Institutions shall disclose the add-on for counterparty credit risk of SFTs including those that are off-balance sheet determined in accordance with Article 429b(2) or (3) of Regulation (EU) No 575/2013, as applicable.
                              Institutions shall include in this cell transactions in accordance with Article 429b(6)(c) of Regulation (EU) No 575/2013.
                              Institutions shall not include in this cell agent SFTs where the institution provides an indemnity or guarantee to a customer or counterparty limited to any difference between the value of the security or cash the customer has lent and the value of collateral the borrower has provided in accordance with Article 429b(6)(a) of Regulation (EU) No 575/2013. Institutions shall instead include those items in {LRCom;15}.

                              {EU-14a}

                                 Derogation for SFTs: Counterparty credit risk exposure in accordance with Articles 429b(4) and 222 of Regulation (EU) No 575/2013

                              Articles 429b(4) and 222 of Regulation (EU) No 575/2013
                              Institutions shall disclose the add-on for SFTs including those that are off-balance sheet calculated in accordance with Article 222 of Regulation (EU) No 575/2013, subject to a 20 % floor for the applicable risk weight.
                              Institutions shall include in this cell transactions in accordance with Article 429b(6)(c) of Regulation (EU) No 575/2013.
                              Institutions shall not include in this cell transactions for which the add-on part of the leverage ratio exposure value is determined in accordance with the method defined in Article 429b(1) of Regulation (EU) No 575/2013.

                              {15}

                                 Agent transaction exposures

                              Article 429b, (2), (3) and (6)(a) of Regulation (EU) No 575/2013
                              Institutions shall disclose the exposure value for agent SFTs where the institution provides an indemnity or guarantee to a customer or counterparty limited to any difference between the value of the security or cash the customer has lent and the value of collateral the borrower has provided in accordance with Article 429b(6)(a) of Regulation (EU) No 575/2013, consists only of the add-on determined in accordance with Article 429b(2) or (3) of Regulation (EU) No 575/2013, as applicable.
                              Institutions shall not include in this cell transactions in accordance with Article 429b(6)(c) of Regulation (EU) No 575/2013.

                              {EU-15a}

                                 (Exempted CCP leg of client-cleared SFT exposure)

                              Articles 429(11) and 306(1)(c) of Regulation (EU) No 575/2013
                              Institutions shall disclose the exempted CCP leg of client-cleared trade exposures of SFTs, provided that those items meet the conditions laid down in Article 306(1)(c) of Regulation (EU) No 575/2013.
                              Where the exempted leg to the CCP is a security it shall not be included in this cell unless it is a repledged security that under the applicable accounting framework (i.e. in accordance with the first sentence of Article 111(1) of Regulation (EU) No 575/2013) is included at full value.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;16}).

                              {16}

                                 Total SFT exposures (sum of lines 12 to 15a)

                              Institutions shall disclose the sum of {LRCom; 12}, {LRCom;EU-12a}, {LRCom;13}, {LRCom;14}, {LRCom;15} and {LRCom;EU-15a}.
                              Institutions shall take into account that {LRCom;13} and {LRCom;EU-15a} contribute negatively to this sum.

                              {17}

                                 Off-balance sheet exposures at gross notional amount

                              Article 429(10) of Regulation (EU) No 575/2013
                              Institutions shall disclose the nominal value of all off-balance sheet items as defined in Article 429(10) of Regulation (EU) No 575/2013, before any adjustment for conversion factors.

                              {18}

                                 (Adjustments for conversion to credit equivalent amounts)

                              Article 429(10) of Regulation (EU) No 575/2013
                              Institutions shall include the difference in value between the nominal value of off-balance sheet items as disclosed on {LRCom;17} and the leverage ratio exposure value of off-balance sheet items as included in {LRCom;19}.
                              Since it reduces the leverage ratio total exposure measure the value disclosed in this cell shall contribute negatively to the sum to be disclosed in {LRCom;19}.

                              {19}

                                 Other off-balance sheet exposures (sum of lines 17 and 18)

                              Articles 429(10), 111(1) and 166(9) of Regulation (EU) No 575/2013
                              Institutions shall disclose the leverage ratio exposure values for off-balance sheet items determined in accordance with Article 429(10) of Regulation (EU) No 575/2013 taking into account the relevant conversion factors.
                              Institutions shall take into account that {LRCom;18} contributes negatively to this sum.

                              {EU-19a}

                                 (Intragroup exposures (solo basis) exempted in accordance with Article 429(7) of Regulation (EU) No 575/2013 (on and off balance sheet))

                              Articles 429(7) and 113(6) of Regulation (EU) No 575/2013
                              Institutions shall disclose the exposures that have not been consolidated on the applicable level of consolidation, that can benefit from the treatment laid down in Article 113(6) of Regulation (EU) No 575/2013, provided that all the conditions set out in points (a) to (e) of Article 113(6) of Regulation (EU) No 575/2013 are met and where the competent authorities have given their approval.
                              The amount disclosed must also be included in the applicable cells above as if no exemption applied.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;21}).

                              {EU-19b}

                                 (Exposures exempted in accordance with Article 429(14) of Regulation (EU) No 575/2013 (on and off balance sheet))

                              Article 429(14) of Regulation (EU) No 575/2013
                              Institutions shall disclose the exposures exempted in accordance with 429(14) of Regulation (EU) No 575/2013 subject to the therein stated conditions being met and where the competent authorities have given their approval.
                              The amount disclosed must also be included in the applicable cells above as if no exemption applied.
                              Since it reduces the leverage ratio total exposure measure institutions shall place the value in this cell between brackets (which signifies that it shall contribute negatively to the sum to be disclosed in {LRCom;21}).

                              {20}

                                 Tier 1 capital

                              Articles 429(3) and 499(1) and (2) of Regulation (EU) No 575/2013
                              Institutions shall disclose the amount of Tier 1 capital calculated in accordance with the choice that the institution has made pursuant to Article 499(2) of Regulation (EU) No 575/2013, as disclosed by {LRCom;EU-23}.
                              More specifically, where the institution has chosen to disclose Tier 1 capital in accordance with Article 499(1)(a) of Regulation (EU) No 575/2013, it shall disclose the amount of Tier 1 capital as calculated in accordance with Article 25 of Regulation (EU) No 575/2013, without taking into account the derogations laid down in Chapters 1 and 2 of Title I of Part Ten of Regulation (EU) No 5752013.
                              In contrast, where the institution has chosen to disclose Tier 1 capital in accordance with Article 499(1)(b) of Regulation (EU) No 575/2013, it shall disclose the amount of Tier 1 capital as calculated in accordance with Article 25 of Regulation (EU) No 575/2013, after taking into account the derogations laid down in Chapters 1 and 2 of Title I of Part Ten of Regulation (EU) No 575/2013.

                              {21}

                                 Leverage ratio total exposure measure (sum of lines 3, 11, 16, 19, EU-19a and EU-19b)

                              Institutions shall disclose the sum of {LRCom;3}, {LRCom;11}, {LRCom;16}, {LRCom;19}, {LRCom;EU-19a} and {LRCom;EU-19b}.
                              Institutions shall take into account that {LRCom;EU-19a} and {LRCom;EU-19b} contribute negatively to this sum.

                              {22}

                                 Leverage ratio

                              Institutions shall disclose {LRCom;20} divided by {LRCom;21} expressed as a percentage.

                              {EU-23}

                                 Choice on transitional arrangements for the definition of the capital measure

                              Article 499(2) of Regulation (EU) No 575/2013
                              Institutions shall specify their choice of transitional arrangements for capital for the purpose of disclosure requirements by disclosing one of the following two labels:

                                          —

                                          ‘Fully phased in’ if the institution chooses to disclose the leverage ratio in accordance with Article 499(1)(a) of Regulation (EU) No 575/2013

                                          —

                                          ‘Transitional’ if the institution chooses to disclose the leverage ratio in accordance with Article 499(1)(b) of Regulation (EU) No 575/2013

                              {EU-24}

                                 Amount of derecognised fiduciary items in accordance with Article 429(13) of Regulation (EU) No 575/2013

                              Institutions shall disclose the amount of derecognised fiduciary items in accordance with Article 429(13) Regulation (EU) No 575/2013.

            4.   Template LRSpl: Split-up of on-balance sheet exposures (excluding derivatives and SFTs)

                  11.

                  Institutions shall apply the instructions provided in this section in order to complete template LRSpl of Annex I.

                              Legal references and instructions

                                 Row

                              {EU-1}

                                 Total on-balance sheet exposures (excluding derivatives and SFTs), of which:

                              Institutions shall disclose the sum of {LRSpl;EU-2} and {LRSpl;EU-3}.

                              {EU-2}

                                 Trading book exposures

                              Institutions shall disclose the exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;070;010}, which is the total exposure value of assets belonging to the trading book excluding derivatives and SFTs.

                              {EU-3}

                                 Banking book exposures, of which:

                              Institutions shall disclose the sum of {LRSpl;EU-4}, {LRSpl;EU-5}, {LRSpl;EU-6}, {LRSpl;EU-7}, {LRSpl;EU-8}, {LRSpl;EU-9}, {LRSpl;EU-10}, {LRSpl;EU-11} and {LRSpl;EU-12}.

                              {EU-4}

                                 Covered Bonds

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014{LR4;080;010} and {LR4;080;020}, which is the total exposure value of assets that are in the form of covered bonds.

                              {EU-5}

                                 Exposures treated as sovereigns

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;090;010} and {LR4;090;020}, which is the total exposure value towards entities that are treated as sovereigns under Regulation (EU) No 575/2013.

                              {EU-6}

                                 Exposures to regional governments, MDB, international organisations and PSE not treated as sovereigns

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;140;010} and {LR4;140;020}, which is the total exposure value towards to regional governments and local authorities, multilateral development banks, international organisations and public sector entities that are not treated as sovereigns under Regulation (EU) No 575/2013.

                              {EU-7}

                                 Institutions

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;180;010} and {LR4;180;020} which is the exposure value of exposures towards institutions.

                              {EU-8}

                                 Secured by mortgages of immovable properties

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;190;010} and {LR4;190;020} which is the exposure value of assets that are exposures secured by mortgages on immovable properties.

                              {EU-9}

                                 Retail exposures

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014{LR4;210;010} and {LR4;210;020} which is the total exposure value of assets that are retail exposure.

                              {EU-10}

                                 Corporate

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;230;010} and {LR4;230;020} which is the total exposure value of assets that are corporate exposure (i.e. financial and non-financial).

                              {EU-11}

                                 Exposures in default

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;280;010} and {LR4;280;020} which is the total exposure value of assets that are in default.

                              {EU-12}

                                 Other exposures (e.g. equity, securitisations, and other non-credit obligations assets)

                              Institutions shall disclose the sum of exposures as defined in Annex XI of Commission Implementing Regulation (EU) No 680/2014 {LR4;290;010} and {LR4;290;020} which is the total exposure value of other non-trading book exposures (e.g. equity, securitisations and non-credit obligation assets) under Regulation (EU) No 575/2013. Institutions shall include assets that are deducted in determining Tier 1 capital and therefore are disclosed in {LRCom;2} unless these assets are included in {LRSpl;EU-2} to {LRSpl;EU-12}.

            5.   Template LRQua: Free format text boxes for disclosure on qualitative items

                  12.

                  Institutions shall complete template LRQua of Annex I by applying the following.

                              Legal references and instructions

                                 Row

                              {1}

                                 Description of the processes used to manage the risk of excessive leverage

                              Article 451(1)(d) of Regulation (EU) No 575/2013
                              ‘Description of the processes used to manage the risk of excessive leverage’ shall include any relevant information on:

                                          (a)

                                          procedures and resources used to assess the risk of excessive leverage;

                                          (b)

                                          quantitative tools, if any, used to assess the risk of excessive leverage including details on potential internal targets and whether other indicators than the leverage ratio of Regulation (EU) No 575/2013 are being used;

                                          (c)

                                          ways of how maturity mismatches and asset encumbrance are taken into account in managing the risk of excessive leverage;

                                          (d)

                                          processes for reacting to leverage ratio changes, including processes and timelines for potential increase of Tier 1 capital to manage the risk of excessive leverage; or processes and timelines for adjusting the leverage ratio denominator (total exposure measure) to manage the risk of excessive leverage.

                              {2}

                                 Description of the factors that had an impact on the leverage ratio during the period to which the disclosed leverage ratio refers

                              Article 451(1)(e) of Regulation (EU) No 575/2013
                              ‘Description of the factors that had an impact on the leverage ratio during the period to which the disclosed leverage ratio refers’ shall include any material information on:

                                          (a)

                                          quantification of the change in the leverage ratio since the previous disclosure reference date

                                          (b)

                                          the main drivers of the leverage ratio since the previous disclosure reference date with explanatory comments on:

                                                      (1)

                                                      the nature of the change and whether it was a change in the numerator of the ratio, in the denominator of the ratio or in both;

                                                      (2)

                                                      whether it resulted from an internal strategic decision and, where so, whether that strategic decision was aimed directly at the leverage ratio or whether it impacted the leverage ratio only indirectly;

                                                      (3)

                                                      the most significant external factors related to the economic and financial environments that had an impact on the leverage ratio.


title: Commission Implementing Regulation (EU) No 1126/2011 of 7 November 2011 amending Annex III to Regulation (EC) No 1120/2009 as regards the amounts for the funding of the specific support provided for in Council Regulation (EC) No 73/2009

text:
               8.11.2011

               EN

               Official Journal of the European Union

               L 289/24

         COMMISSION IMPLEMENTING REGULATION (EU) No 1126/2011
   of 7 November 2011
   amending Annex III to Regulation (EC) No 1120/2009 as regards the amounts for the funding of the specific support provided for in Council Regulation (EC) No 73/2009
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Council Regulation (EC) No 73/2009 of 19 January 2009 establishing common rules for direct support schemes for farmers under the common agricultural policy and establishing certain support schemes for farmers, amending Regulations (EC) No 1290/2005, (EC) No 247/2006, (EC) No 378/2007 and repealing Regulation (EC) No 1782/2003 (1), and in particular the fourth subparagraph of Article 69(7) thereof,
   Whereas:

               (1)

               In accordance with Article 49(2) of Commission Regulation (EC) No 1120/2009 of 29 October 2009 laying down detailed rules for the implementation of the single payment scheme provided for in Title III of Council Regulation (EC) No 73/2009 establishing common rules for direct support schemes for farmers under the common agricultural policy and establishing certain support schemes for farmers (2), Member States may request by 1 August in any given calendar year from 2010 a revision of the amounts referred to in Article 69(6)(a) of Regulation (EC) No 73/2009 where the amount resulting from application of the calculation set out in the first subparagraph of Article 69(7) of that Regulation for the financial year in question differs by more than 20 % from the amount fixed in Annex III to Regulation (EC) No 1120/2009.

               (2)

               Denmark, Finland and Slovenia have addressed to the Commission a request for a revision of the amounts referred to in Article 69(6)(a) of Regulation (EC) No 73/2009 with effect from 2012.

               (3)

               Following the requests submitted by Denmark, Finland and Slovenia, the Commission has made the necessary calculation in order to verify that the threshold of 20 % referred to in Article 49(2) of Regulation (EC) No 1120/2009 was reached in the financial year 2010. For the purpose of applying Article 69(7)(a) of Regulation (EC) No 73/2009 the Commission used the average rate of modulation estimated for Denmark, Finland and Slovenia respectively when fixing the net ceilings set out in Annex IV to Regulation (EC) No 73/2009.

               (4)

               According to this calculation, in the case of Denmark, Finland and Slovenia, the amount resulting from application of the calculation set out in the first subparagraph of Article 69(7) of Regulation (EC) No 73/2009 for the financial year 2010 differs by 47 %, 29 % and 47 % respectively from the amount fixed in Annex III to Regulation (EC) 1120/2009.

               (5)

               The amount fixed for Denmark, Finland and Slovenia in Annex III to Regulation (EC) No 1120/2009 should therefore be revised. Such revised amounts should be applicable from the calendar year 2012, in accordance with the second subparagraph of Article 49(2) of Regulation (EC) No 1120/2009.

               (6)

               The measures provided for in this Regulation are in accordance with the opinion of the Management Committee for Direct Payments,

         HAS ADOPTED THIS REGULATION:
   Article 1
   Annex III to Regulation (EC) No 1120/2009 is amended as follows:

               (a)

               the entry concerning Denmark is replaced by the following:

                           ‘Denmark

                           23,25’

               (b)

               the entry concerning Finland is replaced by the following:

                           ‘Finland

                           6,19’

               (c)

               the entry concerning Slovenia is replaced by the following:

                           ‘Slovenia

                           3,52’

         Article 2
   This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Union.
   It shall apply from 1 January 2012.

      This Regulation shall be binding in its entirety and directly applicable in all Member States.
      Done at Brussels, 7 November 2011.

            For the Commission

            The President

         José Manuel BARROSO

      (1)  OJ L 130, 31.1.2009, p. 16.

      (2)  OJ L 316, 2.12.2009, p. 1.