title: Commission Implementing Regulation (EU) 2015/462 of 19 March 2015 laying down implementing technical standards with regard to the procedures for supervisory approval to establish special purpose vehicles, for the cooperation and exchange of information between supervisory authorities regarding special purpose vehicles as well as to set out formats and templates for information to be reported by special purpose vehicles in accordance with Directive 2009/138/EC of the European Parliament and of the Council  Text with EEA relevance

text:
               20.3.2015

               EN

               Official Journal of the European Union

               L 76/23

         COMMISSION IMPLEMENTING REGULATION (EU) 2015/462
   of 19 March 2015
   laying down implementing technical standards with regard to the procedures for supervisory approval to establish special purpose vehicles, for the cooperation and exchange of information between supervisory authorities regarding special purpose vehicles as well as to set out formats and templates for information to be reported by special purpose vehicles in accordance with Directive 2009/138/EC 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 Directive 2009/138/EC of 25 November 2009 of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1), and in particular Article 211(2)(a) and (b) thereof,
   Whereas:

               (1)

               Special purpose vehicles require supervisory approval to be established prior to assuming risks from insurance or reinsurance undertakings. The conditions and procedures to be followed for granting and withdrawing this approval, including documentation requirements, are regulated by Directive 2009/138/EC and should be complemented by this Regulation.

               (2)

               Where a special purpose vehicle assumes risks from more than one insurance or reinsurance undertaking, the special purpose vehicle should maintain assets equal to or exceeding its aggregate maximum risk exposure taking into account each individual contractual obligation. When granting supervisory approval, the supervisory authority should assess whether this obligation is being met and consider each individual contractual arrangement and risk transfer.

               (3)

               It is important to set procedures for the cooperation and exchange of information between supervisory authorities, where the special purpose vehicle is established in a Member State which is not the Member State where the insurance or reinsurance undertaking, from which it assumes risk, is established. The cooperation and exchange of information between those supervisory authorities is particularly important during the process of the supervisory approval of the special purpose vehicle. Also, if there are material changes that potentially affect the special purpose vehicle's compliance with the requirements of Article 211 of Directive 2009/138/EC and when the authorisation is withdrawn or lapses, the cooperation and exchange of information between those supervisory authorities is necessary to ensure effective and efficient supervision.

               (4)

               The supervisory reporting requirements, which are set out in Article 325 of Commission Delegated Regulation (EU) 2015/35 (2), should enable the supervisory authorities of the special purpose vehicles to assess continued compliance with the relevant requirements. Those requirements should be complemented by the templates and formats set out in this Regulation.

               (5)

               For a clearer understanding of the appropriate technical rules to be laid down, it is necessary to define the term multi-arrangement special purpose vehicle.

               (6)

               This Regulation is based on the draft implementing technical standards submitted by the European Insurance and Occupational Pensions Authority (EIOPA) to the Commission.

               (7)

               EIOPA 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 Insurance and Reinsurance Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council (3).

               (8)

               In order to enhance legal certainty about the supervisory regime during the phasing-in period provided for in Article 308a of Directive 2009/138/EC, which will start on 1 April 2015, it is important to ensure that this Regulation enters into force as soon as possible, on the day after that of its publication in the Official Journal of the European Union,

         HAS ADOPTED THIS REGULATION:
   Article 1
   Subject matter
   This Regulation sets out:

               (a)

               the procedures to be followed for granting and withdrawing supervisory approval to establish special purpose vehicles;

               (b)

               the procedures to be followed for cooperation and exchange of information between the supervisory authority of the Member State in which the special purpose vehicle is established and the supervisory authority of the Member State in which the insurance or reinsurance undertaking transferring risk is established;

               (c)

               the formats and templates to be used for the annual reporting of information by the special purpose vehicle.

         Article 2
   Definition
   For the purposes of this Regulation, ‘multi-arrangement special purpose vehicle’ means a special purpose vehicle which assumes risks under more than one separate contractual arrangement from one or more insurance or reinsurance undertakings.
   Article 3
   Supervisory approval to establish special purpose vehicles
   The special purpose vehicle shall seek authorisation from the supervisory authority of the Member State to establish its head office within the territory of that Member State.
   Article 4
   Decision of the supervisory authority
   1.   The supervisory authority of the Member State in which the special purpose vehicle is established or is to be established shall decide on an application for authorisation within six months of the date of its receipt.
   2.   In its decision to grant supervisory approval the supervisory authority shall state the activities for which the special purpose vehicle is authorised and, where relevant, any terms and conditions relating to those activities.
   3.   Any decision to refuse an authorisation shall state full reasons and shall be communicated to the applicant by the supervisory authority.
   Article 5
   Demonstration and documentation requirements
   When applying for supervisory approval to establish, the special purpose vehicle shall demonstrate that the requirements set out in Articles 318 to 324, 326 and 327 of Delegated Regulation (EU) 2015/35 are met and that the special purpose vehicle is capable of meeting the requirements of Article 325 of Delegated Regulation (EU) 2015/35 by providing documentary evidence of that in its application. When submitting an application for authorisation, the applicant shall submit, at least, the supporting documentation as set out in Annex I. The documentation shall cover the structure of the special purpose vehicle, the risk to be assumed and the funding of that special purpose vehicle.
   Article 6
   Withdrawal of authorisation
   1.   The supervisory authority granting supervisory approval to establish the special purpose vehicle may withdraw the authorisation of that special purpose vehicle where:

               (a)

               the special purpose vehicle no longer fulfils the original conditions under which the approval to establish that special purpose vehicle was granted;

               (b)

               the special purpose vehicle fails seriously in its obligations under the regulations to which it is subject.

         2.   In the case referred to in paragraph (1)(b) above, the supervisory authority shall consider the special purpose vehicle to have committed a serious failure where it does not comply with the requirement to remain fully funded and the supervisory authority considers that the special purpose vehicle cannot restore its compliance within a reasonable timeframe.
   3.   Any decision to withdraw authorisation shall state the full reasons and shall be communicated to the special purpose vehicle without delay.
   Article 7
   Multi-arrangement special purpose vehicle
   1.   When applying for supervisory approval to establish a multi-arrangement special purpose vehicle, the applicant shall additionally demonstrate to the satisfaction of its supervisory authority that its solvency cannot be adversely affected by the winding-up proceedings of any one of the insurance or reinsurance undertakings transferring risks and that the multi-arrangement special purpose vehicle can maintain the solvency requirement at all times.
   2.   When demonstrating that the multi-arrangement special purpose vehicle's solvency cannot be adversely affected by the winding-up proceedings of any one of the insurance or reinsurance undertakings transferring risk, the multi-arrangement special purpose vehicle shall provide sufficient supporting evidence to allow its supervisory authority to assess the multi-arrangement special purpose vehicle's overall aggregate maximum risk exposure and the aggregate maximum risk exposure of each individual contractual arrangement relating to the transfer of risk from an insurance or reinsurance undertaking.
   3.   When applying for supervisory approval to establish a multi-arrangement special purpose vehicle, the applicant shall provide sufficient supporting evidence that it satisfies the conditions set out in Articles 319 to 321 and 326 of the Implementing Measures taking into account each individual contractual arrangement in order to determine whether the multi-arrangement special purpose vehicle complies with the solvency requirements.
   4.   Where the applicant is not able to provide sufficient supporting evidence in line with the provisions of paragraphs 1 to 3, the supervisory authority shall refuse the application for the establishment of the multi-arrangement special purpose vehicle.
   Article 8
   Ongoing cooperation between supervisory authorities
   1.   Where the special purpose vehicle which assumes risk from an insurance or reinsurance undertaking is established in a Member State which is not the Member State in which the insurance or reinsurance undertaking is authorised, the supervisory authorities concerned shall cooperate on an ongoing basis.
   2.   The supervisory authorities shall exchange information relevant to the exercise of supervisory tasks, including information on any planned supervisory actions against the special purpose vehicle or the insurance and reinsurance undertakings transferring risk where this may affect the supervision of that special purpose vehicle or the insurance and reinsurance undertakings transferring risk. In such circumstances, the supervisory authorities shall communicate without delay.
   Article 9
   Prior consultation before granting an authorisation
   Prior to granting authorisation, the supervisory authority from which supervisory approval to establish a special purpose vehicle is sought shall consult with the supervisory authority of the Member State in which the insurance or reinsurance undertaking transferring risk is established.
   Article 10
   Communication of changes
   The special purpose vehicle's supervisory authority shall communicate without delay any relevant information received from a special purpose vehicle according to Article 325(5) of Delegated Regulation (EU) 2015/35 relating to any changes that could affect the special purpose vehicle's compliance with the requirements set out in Articles 318 to 324, 326 and 327 of Delegated Regulation (EU) 2015/35 to the supervisory authority of the insurance or reinsurance undertaking transferring risk to that special purpose vehicle. The supervisory authority shall communicate without delay the special purpose vehicle's breach of solvency requirements.
   Article 11
   Communication of withdrawal of authorisation
   In the event of withdrawal of a special purpose vehicle's authorisation, that special purpose vehicle's supervisory authority shall notify the supervisory authority of the insurance or reinsurance undertaking transferring risk to that special purpose vehicle without delay.
   Article 12
   Communication of the annual report
   The special purpose vehicle's supervisory authority shall share the annual report of the special purpose vehicle, submitted according to Article 325(3) and (4) of Delegated Regulation (EU) 2015/35, with the supervisory authority of the insurance or reinsurance undertaking transferring risk to that special purpose vehicle without delay. In case of a multi-arrangement special purpose vehicle, the multi-arrangement special purpose vehicle's supervisory authority may share with the supervisory authorities only those parts of the report that relate to the insurance and reinsurance undertaking established in the Member State of those supervisory authorities.
   Article 13
   Quantitative content of the annual report
   In line with Article 325 of Delegated Regulation (EU) 2015/35, the special purpose vehicle shall submit annually to its supervisory authority quantitative information following the formats and templates, as set out in Annex II and in accordance with the instructions in Annex III, and comprising:

               (a)

               content of submission, as specified in template SPV.01.01 of Annex II, according to the instructions in Annex III under the reference SPV.01.01;

               (b)

               basic information on the special purpose vehicle, as specified in template SPV.01.02 of Annex II, according to the instructions in Annex III under the reference SPV.01.02;

               (c)

               balance sheet data of the special purpose vehicle, distinguishing the material classes of assets, liabilities and equity items, including debt or other financing mechanism issued, as specified in template SPV.02.01 of Annex II, according to the instructions in Annex III under the reference SPV.02.01;

               (d)

               off-balance sheet data of the special purpose vehicle, as specified in template SPV.02.02 of Annex II, according to the instructions in Annex III under the reference SPV.02.02;

               (e)

               risks assumed regarding each individual contractual arrangement relating to the transfer of risk from an insurance or reinsurance undertaking, as specified in template SPV.03.01 of Annex II, according to the instructions in Annex III under the reference SPV.03.01;

               (f)

               list of debt securities or other financing mechanism issued regarding each individual contractual arrangement relating to the transfer of risk from an insurance or reinsurance undertaking, as specified in template SPV.03.02 of Annex II, according to the instructions in Annex III under the reference SPV.03.02.

         Article 14
   Qualitative content of the annual report
   In line with Article 325 of Delegated Regulation (EU) 2015/35, the special purpose vehicle shall submit annually to its supervisory authority qualitative information covering the following:

               (a)

               an adequate description of the basis, methods and assumptions used for the valuation of the assets;

               (b)

               an adequate description of the basis, methods and assumptions used for the determination of the aggregate maximum risk exposure;

               (c)

               details of any conflicts of interest between the special purpose vehicle, the insurance or reinsurance undertakings and the providers of debt or finance;

               (d)

               details of any significant transactions entered into by the special purpose vehicle during the last reporting period;

               (e)

               information to demonstrate that the special purpose vehicle continues to be fully funded, including:

                           (i)

                           a description of the risks, including liquidity risks and quantifiable risks, assumed by the special purpose vehicle;

                           (ii)

                           information on the debt instruments issued or other financing mechanism entered into;

               (f)

               if the special purpose vehicle has not continuously complied with the requirement to be fully funded during the reporting period, the special purpose vehicle shall report any relevant information on that non-compliance and its rectification according to Article 326 of Delegated Regulation (EU) 2015/35 during the reporting period;

               (g)

               qualitative information on any changes that could affect the special purpose vehicle's compliance with the requirements set out in Articles 318 to 324, 326 and 327 of Delegated Regulation (EU) 2015/35.

         Article 15
   Description of the risks assumed by the special purpose vehicle
   When describing the risks assumed, as required by Article 14, the special purpose vehicle shall provide information in the annual report on:

               (a)

               whether the risks assumed are mainly life or non-life type of risks;

               (b)

               what types of trigger events apply to those risks;

               (c)

               whether a trigger event occurred in the reporting period, triggering a claim against the special purpose vehicle's assets;

               (d)

               whether any amounts arising from a claim were paid out in the reporting period, and if that is the case, how much has been paid out to date and whether the trigger event has negatively affected the special purpose vehicle's liquidity;

               (e)

               whether the special purpose vehicle's risk profile has changed materially since the previous reporting period or from the original terms and conditions as communicated to its supervisory authority upon authorisation.

         Article 16
   Information on debt instruments issued or other financing mechanism entered into
   When providing information on debt instruments issued or other financing mechanism entered into as required by Article 14, the special purpose vehicle shall report on the following:

               (a)

               the proceeds of the debt issuance or other financing mechanism and whether they have been fully paid-in regarding each individual contractual arrangement relating to the transfer of risk from an insurance or reinsurance undertaking;

               (b)

               the types of tiers of the financing mechanism, specifying the tranches or tiers, including information on external ratings received or internal ratings used for issued debt instruments and which, if any, credit rating agencies were used;

               (c)

               the reasons why the financial arrangements are regarded as sufficiently robust to ensure continued protection of potential claims of the insurance or reinsurance undertaking transferring risk to the special purpose vehicle, to maintain its ability to meet amounts it is liable for as they fall due and to ensure the pay-out structure of debt or financing mechanisms;

               (d)

               any debt instruments that have been cancelled, bought back or redeemed, partially or in full, since those instruments were issued and separately for the current reporting period.

         Article 17
   Means for reporting
   Special purpose vehicles shall submit the quantitative content of the report referred to in Article 13 to the supervisory authority electronically, and the qualitative content of the report referred to in Article 15 in an electronic readable format.
   Article 18
   Currency and units
   1.   Special purpose vehicles shall submit all monetary data from the report referred to in Article 13 in the special purpose vehicle's currency of reporting. For that purpose, other currencies shall be converted into the currency of reporting, using the applicable exchange rate at the end of the reporting period.
   2.   Special purpose vehicles shall submit numeric values as facts according to the following formats:

               (a)

               data points with the data type ‘Monetary’ shall be reported using a minimum precision equivalent to units;

               (b)

               data points with the data type ‘Integer’ shall be reported using no decimals and a precision equivalent to units.

         Article 19
   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, 19 March 2015.

            For the Commission

            The President

         Jean-Claude JUNCKER

      (1)  OJ L 335, 17.12.2009, p. 1.

      (2)  Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 12, 17.1.2015, p. 1).

      (3)  Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48).

      ANNEX I
      The supporting documentation referred to in Article 5 of this Regulation shall include the following:

                  1.

                  a clear and profound presentation and analysis in an organisational chart identifying all the relevant parties involved in the transaction, including the insurance or reinsurance undertakings involved, which are supervised by supervisory authorities other than the supervisory authority responsible for granting the special purpose vehicle's authorisation;

                  2.

                  information about the identity and qualification of the originator or sponsor of the special purpose vehicle, where this party differs from the insurance or reinsurance undertaking transferring risk to the special purpose vehicle;

                  3.

                  information about the insurance or reinsurance undertaking transferring risk to the special purpose vehicle;

                  4.

                  identification and qualification of the persons who are, or will be, appointed to act as trustees, where applicable, of the special purpose vehicles' assets;

                  5.

                  information about the identity and qualification of the persons who are, or will be, employees of the special purpose vehicle, including details of persons who effectively run the special purpose vehicle;

                  6.

                  information about the identity and qualification of persons who have, or will be expected to have, qualifying holdings, directly or indirectly in the special purpose vehicle together with the amounts of those holdings;

                  7.

                  information about the identity and qualification of the persons who are providing or will provide management and professional services, such as accounting to the special purpose vehicle;

                  8.

                  the special purpose vehicle's memorandum and articles of association, or drafts thereof;

                  9.

                  details of the insurance or reinsurance undertakings' original insurance policies clearly detailing which risks were initially assumed by the insurance or reinsurance undertaking and which will be transferred to the special purpose vehicle, including an assessment and a description of how the transfer of ceded risks and the retention of any residual risks will comply with the requirements of Article 320 of Delegated Regulation (EU) 2015/35;

                  10.

                  details of the draft contractual arrangement relating to the transfer of risk between the special purpose vehicle and the insurance or reinsurance undertaking including a description of how the contract will meet the requirements of Articles 210, 211, 319 and 320 of Delegated Regulation (EU) 2015/35. The description shall include:

                              (a)

                              any relevant triggering events or mechanisms under the contract;

                              (b)

                              the maximum aggregate risk exposure of the contract;

                  11.

                  an assessment outlining how the legal and governance structures of the special purpose vehicle are deemed to comply with the requirements of Articles 210, 319, 320, 324, 326 and 327 of Delegated Regulation (EU) 2015/35. The review should also give an opinion on whether the legal structure chosen for the special purpose vehicle affords a legally enforceable protection of the assets of the special purpose vehicle, thereby ensuring that the solvency of the special purpose vehicle shall not be adversely affected in line with the requirements of Articles 318(b) and Article 321 of Delegated Regulation (EU) 2015/35. The assessment should include the following:

                              (a)

                              an explanation of how the special purpose vehicle is, or will be, fully funded, including relevant tests, such as stress and scenario tests, to determine if the fully funded requirement has been complied with and how the status will be maintained;

                              (b)

                              information on the special purpose vehicle's equity including size, growth, potential investor concentration, and on the special purpose vehicle's management share of that equity;

                              (c)

                              details of the counterparties to the contractual arrangements relating to the transfer of risk from an insurance or reinsurance undertaking to the special purpose vehicle, including details of all the roles of the special purpose vehicle and the insurance or reinsurance undertaking, as well as the roles and identities of other participants, including, but not limited to, note holders, account managers and account servicing managers, custodians and trusts, asset managers, underwriters and sponsors to the transaction. This shall also include an assessment of the applicable accounting consolidation requirements of the special purpose vehicle into a group;

                              (d)

                              information on quantifiable risks of the special purpose vehicle including details of the special purpose vehicle's liquidity risk and liquidity strategy;

                              (e)

                              information on risk implications of the special purpose vehicle's proposed investment strategy;

                              (f)

                              information on the special purpose vehicle's adherence to the solvency requirements according to Article 327 of Delegated Regulation (EU) 2015/35;

                              (g)

                              details of the risk transfer, including assessment of material residual risks, including basis risk;

                              (h)

                              details on, if any, the use and details of hedging instruments, such as interest rate swaps or currency contracts;

                              (i)

                              details of any off-balance sheet commitments to support the special purpose vehicle, including guarantees or any other form of credit risk mitigation sold to or otherwise provided to the special purpose vehicle;

                              (j)

                              financial projections over the expected life of the special purpose vehicle;

                              (k)

                              an actuarial assessment of the insurance risks assumed;

                              (l)

                              a draft plan outlining the special purpose vehicle's supervisory reporting procedures, designed to comply with the requirements of Articles 325 to 327 of Delegated Regulation (EU) 2015/35, including specific reportable matters identified under Article 325(2) and Article 326(1) and (2) of Delegated Regulation (EU) 2015/35 and with regards to how material changes would be communicated to the supervisory authority;

                  12.

                  transaction documentation, or drafts thereof, regarding the issue of debt or financial mechanisms, and risk transfer to providers of such debt or financing mechanisms, to explain how compliance with Articles 210, 211, 320 and 321 of Delegated Regulation (EU) 2015/35 will be maintained. This documentation should include:

                              (a)

                              prospectus or offering circular or private placement memorandum, or drafts thereof;

                              (b)

                              rating assessment or credit rating agency's report prior to the issue of the funding instruments by the special purpose vehicle;

                              (c)

                              details relating to the potential use of financial guarantors on any of the ‘tranches’ of notes to be issued;

                              (d)

                              trustee agreement, where such an arrangement exists, or drafts thereof;

                              (e)

                              with regard to the debt or financing mechanisms, details of the special purpose vehicle's liquidity strategy for the issued financial instruments, including the structure and tiering, types of positions, and note holder withdrawal rules;

                              (f)

                              information on risk implications of the special purpose vehicle's investment strategy;

                              (g)

                              contracts, or drafts thereof, and details of any hedging instrument, such as interest rate swaps or currency contracts;

                              (h)

                              transaction documentation, or draft thereof, governing parts of the contractual arrangements relating to the transfer of risk from an insurance or reinsurance undertaking to the special purpose vehicle, which may be understood as connected transaction according to Articles 210(3) and 320(2) of Delegated Regulation (EU) 2015/35. Where applicable, this may include contracts with other participants to the transaction, as well as outsourcing and service contracts;

                  13.

                  where a special purpose vehicle, which was authorised prior to 31 December 2015, commences any new activities after 31 December 2015, the special purpose vehicle shall report any relevant information on how the existing activity of the special purpose vehicle may impact on its aggregate risk exposure profile in relation to any new activity.

      ANNEX II

         Special Purpose Vehicles reporting templates

         SPV.01.01 — Content of the submission

                     Template Code

                     Template name

                  C0010

                  SPV.01.02

                  Basic Information

                  R0010

                  SPV.02.01

                  Balance sheet

                  R0020

                  SPV.02.02

                  Off-balance sheet

                  R0030

                  SPV.03.01

                  Risks assumed

                  R0040

                  SPV.03.02

                  Debt or other financing mechanism

                  R0050

         SPV.01.02 — Basic information

                  C0010

                  Name of reporting special purpose vehicle

                  R0010

                  Identification code

                  R0020

                  Type of code

                  R0030

                  Home-country of the special purpose vehicle

                  R0040

                  Reporting date

                  R0050

                  Reference date

                  R0060

                  Currency used for reporting

                  R0070

                  Risks assumed through separate arrangements

                  R0080

                  Compliance with fully funded requirement throughout the reporting period

                  R0090

         SPV.02.01 — Balance sheet

                     Value

                     Assets

                  C0010

                  Deposits and loans claims

                  R0010

                  Securitised loans

                  R0020

                  Debt securities

                  R0030

                  Other securitised assets

                  R0040

                  Equity and collective investment units

                  R0050

                  Financial derivatives

                  R0060

                  Non-financial assets (including fixed assets)

                  R0070

                  Total of other material classes of assets

                  R0080

                  Remaining assets

                  R0090

                     Total assets

                  R0100

                     Liabilities

                  Loans and deposits received

                  R0110

                  Debt securities issued

                  R0120

                  Financial derivatives

                  R0130

                  Total of other material classes of liabilities

                  R0140

                  Remaining liabilities

                  R0150

                     Total Liabilities

                  R0160

                     Equity

                     Total Equity

                  R0170

                  Description of items

                     Value

                  C0020

                  C0010

                  Other material classes of assets 1

                  R0180

                  …

                  Description of items

                     Value

                  C0020

                  C0010

                  Other material classes of liabilities 1

                  R0190

                  …

                  Description of items

                     Value

                  C0020

                  C0010

                  Equity item 1

                  R0200

                  …

         SPV.02.02 — Off-Balance sheet

                     Accounting value

                     Off-balance sheet items

                  C0010

                  Guarantees received by the special purpose vehicle directly

                  R0010

                  Collateral held

                  R0020

                  Total of other off-balance sheet item

                  R0030

                     Off-balance sheet obligations

                  Collateral pledged

                  R0040

                  Total of other off-balance sheet obligation

                  R0050

                  Description of items

                     Accounting value

                  C0020

                  C0010

                  Off-balance sheet item 1

                  R0060

                  …

                  Description of items

                     Accounting value

                  C0020

                  C0010

                  Off-balance sheet obligation 1

                  R0070

                  …

         SPV.03.01 — Risks assumed

                     Arrangement

                     Date of issuance

                     Issues/uses commenced prior to implementation of Directive 2009/138/EC

                     Name of cedent

                     Cedent code

                     Type of code

                     Aggregate maximum risk exposure per arrangement

                     Assets held for separable risk

                     Compliance with the fully funded requirement for the arrangement throughout the reporting period

                     Duration

                  C0010

                  C0020

                  C0030

                  C0040

                  C0050

                  C0060

                  C0070

                  C0080

                  C0090

                  C0100

                     Total

                  R0010

                  Risk 1

                  R0020

                  …

                  …

         SPV.03.02 — Debt or other financing mechanism

                     Arrangement

                     Description of the debt or other financing mechanism issued for arrangement

                     Amount of the debt or other financing mechanism issued for arrangement

                  C0010

                  C0020

                  C0030

                     Total

                  R0010

                  Debt or other financing mechanism 1

                  R0020

                  …

      ANNEX III
      This Annex contains additional instructions in relation to the templates included in Annex II to this Regulation. The first column of the tables identifies the items to be reported by identifying the cells as presented in the template in Annex II.
      Where the special purpose vehicle is requested to complement the quantitative reporting with a particular justification, the explanation is not to be submitted within the reporting template, but shall be included within the narrative part of the submission of information by the special purpose vehicle to the supervisory authority.

         SPV.01.01 — Content of the submission

                  Cell

                  Item

                  Instructions

                  R0010/C0010

                  Basic Information

                  Reported.

                  R0020/C0010

                  Balance Sheet

                  One of the options in the following closed list shall be used:

                              1

                              —

                              Reported;

                              9

                              —

                              Not reported (in this case justification is required).

                  R0030/C0010

                  Off-balance sheet

                  One of the options in the following closed list shall be used:

                              1

                              —

                              Reported;

                              2

                              —

                              Not reported o/a no off-balance sheet items;

                              9

                              —

                              Not reported other reason (in this case justification is required).

                  R0040/C0010

                  Risks assumed

                  One of the options in the following closed list shall be used:

                              1

                              —

                              Reported;

                              9

                              —

                              Not reported (in this case justification is required).

                  R0050/C0010

                  Debt or other financing mechanism

                  One of the options in the following closed list shall be used:

                              1

                              —

                              Reported;

                              9

                              —

                              Not reported (in this case justification is required).

         SPV.01.02 — Basic information

                  Cell

                  Item

                  Instructions

                  R0010/C0010

                  Name of reporting special purpose vehicle

                  Name of special purpose vehicle submitting the report to the supervisory authority.

                  R0020/C0010

                  Identification code

                  Identification of the special purpose vehicle using the following priority:

                              —

                              Legal Entity Identifier (LEI);

                              —

                              Identification code used in the local market, attributed by national supervisory authority.

                  R0030/C0010

                  Type of code

                  Identification of the code used in item ‘Identification code’. One of the options in the following closed list shall be used:

                              1

                              —

                              LEI

                              2

                              —

                              Local code

                  R0040/C0010

                  Home-country of the special purpose vehicle

                  ISO 3166-1 alpha-2 code of the country where the special purpose vehicle has been authorised.

                  R0050/C0010

                  Reporting date

                  ISO 8601 (yyyy-mm-dd) code of the date when the report to the supervisory authority is made.

                  R0060/C0010

                  Reference date

                  ISO 8601 (yyyy-mm-dd) code of the date identifying the last day of the reporting period.

                  R0070/C0010

                  Currency used for reporting

                  ISO 4217 alphabetic code of the currency of the monetary amounts used in each report.

                  R0080/C0010

                  Risks assumed through separate arrangements

                  Identify the number of separate risk arrangements that a SPV may have received authorisation to assume under terms and conditions as set by its supervisory authority.

                  R0090/C0010

                  Compliance with fully funded requirement throughout the period

                  To state whether fully-funded requirement was maintained between two reporting periods. The following closed list shall be used:

                              1

                              —

                              Compliance with fully-funded

                              2

                              —

                              Non-compliance with fully-funded

         SPV.02.01 — Balance sheet

                  Cell

                  Item

                  Instructions

                  R0010/C0010

                  Deposits and loans claims

                  Value of the deposits and loan claims according to Article 75 of Directive 2009/138/EC. This item shall include:

                              —

                              All deposits

                              —

                              Loans granted by the SPV

                              —

                              Cash

                  R0020/C0010

                  Securitised loans

                  Value of the securitised loans acquired by the special purpose vehicle according to Article 75 of Directive 2009/138/EC.

                  R0030/C0010

                  Debt securities

                  Value of holdings of debt securities according to Article 75 of Directive 2009/138/EC. It includes subordinated debt in the form of debt securities.

                  R0040/C0010

                  Other securitised assets

                  Value of other securitised assets not included in items ‘Securitised loans’ (C0010/R0020) or ‘Debt securities’ (C0010/R0030) according to Article 75 of Directive 2009/138/EC.

                  R0050/C0010

                  Equity and collective investment units

                  Value of equity and collective investment units held according to Article 75 of Directive 2009/138/EC.

                  R0060/C0010

                  Financial derivatives

                  Value of financial derivatives with positive value according to Article 75 of Directive 2009/138/EC.

                  R0070/C0010

                  Non-financial assets (including fixed assets)

                  Value of tangible and intangible assets, other than financial assets according to Article 75 of Directive 2009/138/EC.

                  R0080/C0010

                  Total of other material classes of assets

                  Total amount of other material classes of assets

                  R0090/C0010

                  Remaining assets

                  Value of all the others assets, not covered by the previous items according to Article 75 of Directive 2009/138/EC.

                  R0100/C0010

                  Total assets

                  Total value of the assets of the special purpose vehicle.

                  R0110/C0010

                  Loans and deposits received

                  Value owed to creditors by the special purpose vehicle, other than those arising from the issue of negotiable securities.

                  R0120/C0010

                  Debt securities issued

                  Value of the securities issued by the special purpose vehicle, other than equity according to Article 75 of Directive 2009/138/EC.

                  R0130/C0010

                  Financial derivatives

                  Value of financial derivatives with negative value according to Article 75 of Directive 2009/138/EC.

                  R0140/C0010

                  Total of other material classes of liabilities

                  Total amount of other material classes of liabilities

                  R0150/C0010

                  Remaining liabilities

                  Value of all the others liabilities, not covered by the previous items according to Article 75 of Directive 2009/138/EC.

                  R0160/C0010

                  Total Liabilities

                  Total of the liabilities of the special purpose vehicle.

                  R0170/C0010

                  Total Equity

                  Total of the equity of the special purpose vehicle.

                  R0180/C0020

                  Other material classes of assets 1

                  Description of the material class of assets. Identify as many other material classes as needed to give a clear view of the nature of the material assets of the special purpose vehicle.

                  R0180/C0010

                  Other material classes of assets 1 — Value

                  Value of each material class of assets.

                  R0190/C0020

                  Other material classes of liabilities 1

                  Description of the material class of liabilities. Identify as many other material classes as needed to give a clear view of the nature of the material liabilities of the special purpose vehicle.

                  R0190/C0010

                  Other material classes of liabilities 1 — Value

                  Value of each material class of liabilities.

                  R0200/C0020

                  Equity (Material items)

                  Description of the material equity items. To be decided by each special purpose vehicle considering the nature of material items held by the reporting special purpose vehicle and to be kept consistent over reporting periods.

                  R0200/C0010

                  Equity item 1

                  Value of each equity item reported according to Article 75 of Directive 2009/138/EC.

         SPV.02.02 — Off-Balance sheet

                  Cell

                  Item

                  Instructions

                  R0010/C0010

                  Guarantees received by the special purpose vehicle directly

                  Accounting value of the guarantees received by the special purpose vehicle directly.

                  R0020/C0010

                  Collateral held

                  Accounting value of the collaterals held.

                  R0030/C0010

                  Total of other off-balance sheet items

                  Accounting value of each other off-balance sheet items reported.

                  R0040/C0010

                  Collateral pledged

                  Accounting value of Collaterals pledged.

                  R0050/C0010

                  Total of other off-balance sheet obligations

                  Accounting value of each other off-balance sheet obligations reported.

                  R0060/C0020

                  Off-balance sheet item 1

                  Description of each other off-balance sheet item. The special purpose vehicle shall report as many different items as needed.

                  R0060/C0010

                  Off-balance sheet item 1 — Accounting Value

                  Accounting value of each other off-balance sheet items reported.

                  R0070/C0020

                  Off-balance sheet obligation 1

                  Description of each other off-balance sheet obligation. The special purpose vehicle shall report as many different items as needed.

                  R0070/C0010

                  Off-balance sheet obligation 1 — Accounting value

                  Accounting value of each other off-balance sheet obligations reported.

         SPV.03.01 — Risks assumed

                  Cell

                  Item

                  Instructions

                  R0010/C0070

                  Total — Aggregate maximum risk exposure per arrangement

                  Total of the special purpose vehicle's aggregate maximum risk exposure
                  C0070/R0010 = Sum (C0070/R0020)

                  R0010/C0080

                  Total — Assets held for separable risk

                  Value of the total assets held
                  SPV.03.01 C0080/R0010 = Sum (C0080/R0020) = SPV.02.01.C0010/R0100

                  R0020/C0010

                  Arrangement

                  Where multi-arrangement special purpose vehicles are involved, information shall be provided for each separate arrangement (each separable risk assumed). This item identifies the risk arrangement code.
                  If the supervisory authority attributes a code, that code shall be used. If not, the special purpose vehicle shall attribute a code that shall be kept consistent over the reporting years and shall not be reused.
                  The number of lines reported shall be the same as the number identified in SPV.01.02.C0010/R0080

                  R0020/C0020

                  Date of issuance

                  ISO 8601 (yyyy-mm-dd) code of the issuance date for each separable risk arrangement.

                  R0020/C0030

                  Issues/uses commenced prior to implementation of Directive 2009/138/EC

                  Identification if arrangement entered before 31 December 2015. The following closed list shall be used:

                              1

                              —

                              Prior to 31 December 2015

                              2

                              —

                              After 31 December 2015

                  R0020/C0040

                  Name of cedant

                  Name of the insurance or reinsurance undertaking transferring risks to the special purpose vehicle.

                  R0020/C0050

                  Cedant code

                  Identification code of the cedant using the following priority, if existent:

                              —

                              Legal Entity Identifier (LEI);

                              —

                              Specific code.

                        Specific code:

                              —

                              For EEA (re) insurance undertakings: identification code used in the local market, attributed by the undertaking's supervisory authority;

                              —

                              For non-EEA undertakings and non-regulated undertakings, identification code provided by the special purpose vehicle. When allocating an identification code to each non-EEA or non-regulated undertaking, it shall comply with the following format in a consistent manner:

                        identification code of the undertaking + ISO 3166-1 alpha-2 code of the country of the undertaking + 5 digits

                  R0020/C0060

                  Type of code

                  Identification of the code used in the item ‘Cedant code’ (C0050). One of the options in the following closed list shall be used:

                              1

                              —

                              LEI

                              2

                              —

                              Specific code

                  R0020/C0070

                  Aggregate maximum risk exposure per arrangement

                  Value per arrangement of the aggregate maximum risk exposure.

                  R0020/C0080

                  Assets held for separable risk

                  Value of the total assets held per arrangement.

                  R0020/C0090

                  Compliance with the fully funded requirement for the arrangement throughout the reporting period

                  To state whether fully-funded requirement was maintained between two reporting periods. The following closed list shall be used:

                              1

                              —

                              Compliance with fully-funded

                              2

                              —

                              Non-compliance with fully-funded

                  R0020/C0100

                  Duration

                  Value of the remaining duration of the arrangement in months.

         SPV.03.02 — Debt or other financing mechanism

                  Cell

                  Item

                  Instructions

                  R0010/C0030

                  Total — Amount of debt or other financing mechanism issued for arrangement

                  Value of the total debt securities issued
                  SPV.03.02.C0030/R0010 = Sum (C0030/R0020) = SPV.02.01.C0010/R0120

                  R0020/C0010

                  Arrangement

                  Where multi-arrangement special purpose vehicles are involved, information shall be provided for each separate arrangement (each separable risk assumed). This item identifies the risk arrangement code.
                  If the supervisory authority attributes a code, that code shall be used. If not, special purpose vehicle shall attribute a code that shall be kept consistent over the reporting years and shall not be reused.
                  The number of lines reported shall be the same as the number identified in SPV.01.02.C0010/R0080.

                  R0020/C0020

                  Debt or other financing mechanism 1

                  Description of the debt or other financing mechanism issued for arrangement, including the transaction reference.
                  As many lines as needed shall be used per arrangement to report each debt security issued.

                  R0020/C0030

                  Amount of the debt or other financing mechanism issued for arrangement

                  Value of each debt issuance or each other financing mechanism.


title: Commission Implementing Regulation (EU) 2017/1467 of 11 August 2017 amending Regulation (EU) No 1255/2010 as regards the import tariff quota for ‘baby beef’ products originating in Kosovo (This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence. )

text:
                  12.8.2017

                  EN

                  Official Journal of the European Union

                  L 209/13

            COMMISSION IMPLEMENTING REGULATION (EU) 2017/1467
      of 11 August 2017
      amending Regulation (EU) No 1255/2010 as regards the import tariff quota for ‘baby beef’ products originating in Kosovo (*1)

      THE EUROPEAN COMMISSION,
      Having regard to the Treaty on the Functioning of the European Union,
      Having regard to Regulation (EU) No 1308/2013 of the European Parliament and of the Council of 17 December 2013 establishing a common organisation of the markets in agricultural products and repealing Council Regulations (EEC) No 922/72, (EEC) No 234/79, (EC) No 1037/2001 and (EC) No 1234/2007 (1), and in particular point (b) of the first paragraph of Article 187 thereof,
      Whereas:

                  (1)

                  Commission Regulation (EU) No 1255/2010 (2) lays down detailed rules for the management of import tariff quotas for ‘baby beef’ products.

                  (2)

                  Council Regulation (EC) No 1215/2009 (3) provides for an annual import tariff quota of 475 tonnes for ‘baby beef’ products originating in the customs territory of Kosovo (*1).

                  (3)

                  The Commission adopted Implementing Regulation (EU) No 374/2012 (4) which amended Regulation (EU) No 1255/2010 in order to open and provide for the administration of the annual import tariff quota for ‘baby beef’ products originating in Kosovo (*1).

                  (4)

                  The Stabilisation and Association Agreement between the European Union and the European Atomic Energy Community, of the one part, and Kosovo (*1), of the other part (‘the Agreement’), was concluded on behalf of the Union by the Council by Decision (EU) 2016/342 (5) and it is the new instrument governing trade relations with Kosovo (*1). Article 28(3) of the Agreement provides for a tariff quota of 475 tonnes for ‘baby beef’ products originating in the customs territory of Kosovo (*1). As a consequence, the tariff quota for ‘baby beef’ products provided for in the first subparagraph of Article 3(2) of Regulation (EC) No 1215/2009 was set at zero tonnes by Commission Delegated Regulation (EU) 2017/1464 (6).

                  (5)

                  Regulation (EU) No 1255/2010 should therefore be amended accordingly.

                  (6)

                  The measures provided for in this Regulation are in accordance with the opinion of the Committee for the Common Organisation of the Agricultural Markets,

            HAS ADOPTED THIS REGULATION:
      Article 1
      In Annex VIIa to Regulation (EU) No 1255/2010, box 8 is replaced by the following:

                     ‘8.

                     I, the undersigned …, acting on behalf of the authorised issuing body (box 9) certify that the goods described above were subjected to health inspection at …, in accordance with the attached veterinary certificate of …, originate in and come from Kosovo (*2) and correspond exactly to the definition contained in Annex II to the Stabilisation and Association Agreement between the European Union and the European Atomic Energy Community, of the one part, and Kosovo (*2), of the other part (OJ L 71, 16.3.2016, p. 3).’

      Article 2
      This Regulation shall enter into force on the third 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, 11 August 2017.

               For the Commission

               The President

            Jean-Claude JUNCKER

         (*1)  This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence.

         (1)  OJ L 347, 20.12.2013, p. 671.

         (2)  Commission Regulation (EU) No 1255/2010 of 22 December 2010 laying down detailed rules for the application of the import tariff quotas for ‘baby beef’ products originating in Bosnia and Herzegovina, Croatia, the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Kosovo * (OJ L 342, 28.12.2010, p. 1).

         (3)  Council Regulation (EC) No 1215/2009 of 30 November 2009 introducing exceptional trade measures for countries and territories participating in or linked to the European Union's Stabilisation and Association process (OJ L 328, 15.12.2009, p. 1).

         (4)  Commission Implementing Regulation (EU) No 374/2012 of 26 April 2012 amending Regulation (EU) No 1255/2010 laying down detailed rules for the application of the import tariff quotas for ‘baby beef’ products originating in Bosnia and Herzegovina, Croatia, the former Yugoslav Republic of Macedonia, Montenegro, Serbia (OJ L 118, 3.5.2012, p. 1).

         (5)  Council Decision (EU) 2016/342 of 12 February 2016 on the conclusion, on behalf of the Union, of the Stabilisation and Association Agreement between the European Union and the European Atomic Energy Community, of the one part, and Kosovo *, of the other part (OJ L 71, 16.3.2016, p. 1).

         (6)  Commission Delegated Regulation (EU) 2017/1464 of 2 June 2017 amending Council Regulation (EC) No 1215/2009 as regards trade concessions granted to Kosovo * following the entry into force of the Stabilisation and Association Agreement between the European Union and the European Atomic Energy Community, of the one part, and Kosovo, of the other part (see page 1 of this Official Journal).

         (*2)  This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the ICJ Opinion on the Kosovo declaration of independence.


title: Commission Implementing Regulation (EU) No 514/2013 of 4 June 2013 establishing the standard import values for determining the entry price of certain fruit and vegetables

text:
               5.6.2013

               EN

               Official Journal of the European Union

               L 152/48

         COMMISSION IMPLEMENTING REGULATION (EU) No 514/2013
   of 4 June 2013
   establishing the standard import values for determining the entry price of certain fruit and vegetables
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Council Regulation (EC) No 1234/2007 of 22 October 2007 establishing a common organisation of agricultural markets and on specific provisions for certain agricultural products (Single CMO Regulation) (1),
   Having regard to Commission Implementing Regulation (EU) No 543/2011 of 7 June 2011 laying down detailed rules for the application of Council Regulation (EC) No 1234/2007 in respect of the fruit and vegetables and processed fruit and vegetables sectors (2), and in particular Article 136(1) thereof,
   Whereas:

               (1)

               Implementing Regulation (EU) No 543/2011 lays down, pursuant to the outcome of the Uruguay Round multilateral trade negotiations, the criteria whereby the Commission fixes the standard values for imports from third countries, in respect of the products and periods stipulated in Annex XVI, Part A thereto.

               (2)

               The standard import value is calculated each working day, in accordance with Article 136(1) of Implementing Regulation (EU) No 543/2011, taking into account variable daily data. Therefore this Regulation should enter into force on the day of its publication in the Official Journal of the European Union,

         HAS ADOPTED THIS REGULATION:
   Article 1
   The standard import values referred to in Article 136 of Implementing Regulation (EU) No 543/2011 are fixed in the Annex to this Regulation.
   Article 2
   This Regulation shall enter into force on the day 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, 4 June 2013.

            For the Commission, On behalf of the President,
         Jerzy PLEWA

            Director-General for Agriculture and Rural Development

      (1)  OJ L 299, 16.11.2007, p. 1.

      (2)  OJ L 157, 15.6.2011, p. 1.

      ANNEX
      Standard import values for determining the entry price of certain fruit and vegetables

                  (EUR/100 kg)

                  CN code

                  Third country code (1)

                  Standard import value

                  0702 00 00

                  AL

                  41,5

                  MA

                  51,3

                  MK

                  65,0

                  TN

                  25,9

                  TR

                  63,9

                  ZZ

                  49,5

                  0707 00 05

                  AL

                  41,5

                  MK

                  46,1

                  TR

                  142,5

                  ZZ

                  76,7

                  0709 93 10

                  TR

                  141,4

                  ZZ

                  141,4

                  0805 50 10

                  AR

                  115,5

                  TR

                  81,9

                  ZA

                  112,5

                  ZZ

                  103,3

                  0808 10 80

                  AR

                  181,7

                  BR

                  96,0

                  CL

                  115,9

                  CN

                  77,1

                  NZ

                  135,5

                  US

                  155,7

                  ZA

                  130,9

                  ZZ

                  127,5

                  0809 10 00

                  TR

                  195,8

                  ZZ

                  195,8

                  0809 29 00

                  TR

                  469,8

                  US

                  557,8

                  ZZ

                  513,8

         (1)  Nomenclature of countries laid down by Commission Regulation (EC) No 1833/2006 (OJ L 354, 14.12.2006, p. 19). Code ‘ZZ’ stands for ‘of other origin’.


title: Commission Implementing Regulation (EU) 2017/882 of 23 May 2017 on the derogations from the rules of origin laid down in Protocol 1 to the Economic Partnership Agreement between the European Union and its Member States, of the one part, and the SADC EPA States, of the other part, that apply within a quota for certain products from Namibia

text:
               24.5.2017

               EN

               Official Journal of the European Union

               L 135/15

         COMMISSION IMPLEMENTING REGULATION (EU) 2017/882
   of 23 May 2017
   on the derogations from the rules of origin laid down in Protocol 1 to the Economic Partnership Agreement between the European Union and its Member States, of the one part, and the SADC EPA States, of the other part, that apply within a quota for certain products from Namibia
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Regulation (EU) No 952/2013 of the European Parliament and of the Council of 9 October 2013 laying down the Union Customs Code (1), and in particular Article 58(1) thereof,
   Whereas:

               (1)

               By Decision (EU) 2016/1623 (2), the Council authorised the signature, on behalf of the Union, of the Economic Partnership Agreement between the European Union and its Member States, of the one part, and the SADC EPA States, of the other part (3) (‘the Agreement’). The SADC EPA States comprise Botswana, Lesotho, Mozambique, Namibia, Swaziland and South Africa. Pursuant to Decision (EU) 2016/1623, the Agreement is to be applied on a provisional basis, pending the completion of the procedures for its conclusion. The Agreement applies on a provisional basis from 10 October 2016.

               (2)

               Protocol 1 to the Agreement concerns the definition of the concept of ‘originating products’ and methods of administrative cooperation. For a specific product, namely prepared or preserved Albacore tuna (Thunnus alalunga) of HS Heading 1604, manufactured from non-originating Albacore tuna of HS Headings 0302 or 0303, Article 43 to that Protocol provides for an automatic derogation from the rules of origin set out in that Protocol in the framework of an annual quota granted to Namibia. It is therefore necessary to lay down the conditions for the application of those derogations for imports from Namibia.

               (3)

               The quota set out in Article 43(10) to Protocol 1 to the Agreement should be managed by the Commission on the basis of the chronological order of dates of acceptance of customs declarations for release for free circulation in accordance with Commission Implementing Regulation (EU) 2015/2447 (4).

               (4)

               Entitlement to benefit from the tariff concessions should be subject to the presentation of the relevant proof of origin to the customs authorities.

               (5)

               In order to ensure the smooth application of the quota system set up by the Protocol, this Regulation should apply from the same date as that of the provisional application of the Agreement.

               (6)

               The measures provided for in this Regulation are in accordance with the opinion of the Customs Code Committee,

         HAS ADOPTED THIS REGULATION:
   Article 1
   The derogations from the rules of origin in favour of Namibia set out in Article 43(10) to Protocol 1 to the Economic Partnership Agreement between the European Union and its Member States, of the one part, and the SADC EPA States, of the other part (‘the Agreement’), shall apply within the quota set out in the Annex to this Regulation.
   Article 2
   To benefit from the derogations set out in Article 1, the products listed in the Annex shall be accompanied by a proof of origin as set out in Annex III to Protocol 1 to the Agreement.
   The following shall be entered in box 7 of movement certificate EUR.1 issued by the competent authorities of Namibia pursuant to this Regulation: ‘Derogation — Regulation (EU) 2017/882’.
   Article 3
   The quota set out in the Annex shall be managed in accordance with Articles 49 to 54 of Implementing Regulation (EU) 2015/2447.
   Article 4
   This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union.
   It shall apply from 10 October 2016.

      This Regulation shall be binding in its entirety and directly applicable in all Member States.
      Done at Brussels, 23 May 2017.

            For the Commission

            The President

         Jean-Claude JUNCKER

      (1)  OJ L 269, 10.10.2013, p. 1.

      (2)  Council Decision (EU) 2016/1623 of 1 June 2016 on the signing, on behalf of the European Union and provisional application of the Economic Partnership Agreement between the European Union and its Member States, of the one part, and the SADC EPA States, of the other part (OJ L 250, 16.9.2016, p. 1).

      (3)  OJ L 250, 16.9.2016, p. 3.

      (4)  Commission Implementing Regulation (EU) 2015/2447 of 24 November 2015 laying down detailed rules for implementing certain provisions of Regulation (EU) No 952/2013 of the European Parliament and of the Council laying down the Union Customs Code (OJ L 343, 29.12.2015, p. 558).

      ANNEX
      Notwithstanding the rules for the interpretation of the Combined Nomenclature, the wording of the description of the products in the fifth column of this table is to be considered as having no more than an indicative value. The preferential scheme is determined, within the context of this Annex, by the CN codes applicable at the time of adoption of this Regulation.

                  Order No

                  CN code

                  TARIC sub-division

                  Description of products

                  Quota period

                  Quota volume (in tonnes net weight if not otherwise specified)

                  09.1600

                  ex 1604 14 41
                  ex 1604 14 46
                  ex 1604 14 48
                  ex 1604 20 70

                  30
                  92 , 97
                  30
                  92 , 97

                  Prepared or preserved Albacore tuna (Thunnus alalunga) of HS Heading 1604 , manufactured from non-originating Albacore tuna of HS Headings 0302  or 0303

                  From 10.10 to 31.12.2016

                  178

                  From 1.1 to 31.12.2017 and for each period thereafter from 1.1 to 31.12.

                  800


title: Commission Implementing Regulation (EU) No 785/2013 of 14 August 2013 approving non-minor amendments to the specification for a name entered in the register of protected designations of origin and protected geographical indications [Miel de La Alcarria (PDO)]

text:
               17.8.2013

               EN

               Official Journal of the European Union

               L 220/12

      COMMISSION IMPLEMENTING REGULATION (EU) No 785/2013
   of 14 August 2013
   approving non-minor amendments to the specification for a name entered in the register of protected designations of origin and protected geographical indications [Miel de La Alcarria (PDO)]
   THE EUROPEAN COMMISSION,
   Having regard to the Treaty on the Functioning of the European Union,
   Having regard to Regulation (EU) No 1151/2012 of the European Parliament and of the Council of 21 November 2012 on quality schemes for agricultural products and foodstuffs (1), and in particular Article 52(2) thereof,
   Whereas:

               (1)

               Regulation (EU) No 1151/2012 repealed and replaced Council Regulation (EC) No 510/2006 of 20 March 2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs (2).

               (2)

               By virtue of the first subparagraph of Article 9(1) of Regulation (EC) No 510/2006, the Commission has examined Spain's application for the approval of amendments to the specification for the protected designation of origin 'Miel de La Alcarria' registered under Commission Regulation (EC) No 1107/96 (3).

               (3)

               Since the amendments in question are not minor, the Commission published the amendment application in the Official Journal of the European Union
                   (4), as required by Article 6(2) of Regulation (EC) No 510/2006. As no statement of objection under Article 7 of that Regulation has been received by the Commission, the amendments to the specification should be approved,

         HAS ADOPTED THIS REGULATION:
   Article 1
   The amendments to the specification published in the Official Journal of the European Union regarding the name contained in the Annex to this Regulation are hereby approved.
   Article 2
   This Regulation shall enter into force on the twentieth 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, 14 August 2013.

            For the Commission, On behalf of the President,
         Johannes HAHN

            Member of the Commission

      (1)  OJ L 343, 14.12.2012, p. 1.

      (2)  OJ L 93, 31.3.2006, p. 12.

      (3)  OJ L 148, 21.6.1996, p. 1.

      (4)  OJ C 302, 6.10.2012, p. 24.

      ANNEX
      Agricultural products intended for human consumption listed in Annex I to the Treaty:

         Class 1.4.   Other products of animal origin (eggs, honey, various dairy products except butter, etc.)

      SPAIN
      Miel de La Alcarria (PDO)


title: Commission Implementing Regulation (EU) 2017/954 of 6 June 2017 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012 of the European Parliament and of the Council (Text with EEA relevance. )

text:
               7.6.2017

               EN

               Official Journal of the European Union

               L 144/14

         COMMISSION IMPLEMENTING REGULATION (EU) 2017/954
   of 6 June 2017
   on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012 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 Article 497(3) thereof,
   Whereas:

               (1)

               In order to avoid disruption to international financial markets and to prevent penalising institutions by subjecting them to higher own funds requirements during the processes of recognition of existing third-country central counterparties (CCPs), Article 497(2) of Regulation (EU) No 575/2013 established a transitional period during which third-country CCPs with which institutions established in the Union clear transactions may be considered qualifying CCPs by those institutions.

               (2)

               Regulation (EU) No 575/2013 amended Regulation (EU) No 648/2012 (2) in respect of certain inputs to the calculation of institutions' own funds requirements for exposures to third-country CCPs. Accordingly, Article 89(5a) of Regulation (EU) No 648/2012 requires certain third-country CCPs to report, for a limited period of time, the total amount of initial margin they have received from their clearing members. That transitional period mirrors the one laid down in Article 497(2) of Regulation (EU) No 575/2013.

               (3)

               Both transitional periods were set to expire on 15 June 2014.

               (4)

               Article 497(3) of Regulation (EU) No 575/2013 empowers the Commission to adopt an implementing act in order to extend the transitional period for own funds requirements by six months in exceptional circumstances. That extension should also apply in respect of the time limits laid down in Article 89(5a) of Regulation (EU) No 648/2012. Those transitional periods have been extended until 15 June 2017 by Commission Implementing Regulations (EU) No 591/2014 (3), (EU) No 1317/2014 (4), (EU) 2015/880 (5), (EU) 2015/2326 (6), (EU) 2016/892 (7) and (EU) 2016/2227 (8).

               (5)

               Of the CCPs established in third countries that have applied for recognition so far, 28 CCPs have already been recognised by the European Securities and Markets Authority. Of those, two CCPs from the United States of America have been recognised after the adoption of Implementing Regulation (EU) 2016/2227 on the basis of Commission Implementing Decision (EU) 2016/377 (9). In addition, following the adoption of Commission Implementing Decisions (EU) 2016/2269 (10), (EU) 2016/2275 (11), (EU) 2016/2276 (12), (EU) 2016/2277 (13) and (EU) 2016/2278 (14) five CCPs respectively from India, Japan, Brazil, Dubai International Financial Centre and United Arab Emirates have also been recognised. Finally, additional CCPs from India and from New Zealand may be recognised on the basis of Commission Implementing Decisions (EU) 2016/2269 and (EU) 2016/2274 (15), respectively. In spite of these developments, the remaining third-country CCPs are still awaiting recognition and the recognition process will not be completed by 15 June 2017. If the transitional period is not extended, institutions established in the Union (or their subsidiaries established outside the Union) having exposures to the remaining third-country CCPs would be required to increase significantly their own funds for those exposures. Even if such increases may only be temporary, they could potentially lead to the withdrawal of those institutions as direct participants in those CCPs or, at least temporary, to the cessation of the provision of clearing services to those institutions' clients and thus cause severe disruption in the markets in which those CCPs operate.

               (6)

               The need to avoid disruption to markets outside of the Union that led previously to the extension of the transitional period laid down in Article 497(2) of Regulation (EU) No 575/2013 would therefore remain after the expiry of the extension of the transitional period set out in Implementing Regulation (EU) 2016/2227. A further extension of the transitional period should enable institutions established in the Union (or their subsidiaries established outside the Union) to avoid significant increase in the own funds requirements due to the lack of completion of the recognition process for CCPs which provide, in a viable and accessible way, the specific type of clearing services that institutions established in the Union (or their subsidiaries established outside the Union) require. An additional six-month extension of the transitional periods is therefore appropriate.

               (7)

               The measures provided for in this Regulation are in accordance with the opinion of the European Banking Committee,

         HAS ADOPTED THIS REGULATION:
   Article 1
   The 15-month periods referred to in Article 497(2) of Regulation (EU) No 575/2013 and in the second subparagraph of Article 89(5a) of Regulation (EU) No 648/2012, respectively, as last extended in accordance with Article 1 of Implementing Regulation (EU) 2016/2227, are extended by an additional 6 months until 15 December 2017.
   Article 2
   This Regulation shall enter into force on the third 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, 6 June 2017.

            For the Commission

            The President

         Jean-Claude JUNCKER

      (1)  OJ L 176, 27.6.2013, p. 1.

      (2)  Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ L 201, 27.7.2012, p. 1).

      (3)  Commission Implementing Regulation (EU) No 591/2014 of 3 June 2014 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties in Regulation (EU) No 575/2013 and Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 165, 4.6.2014, p. 31).

      (4)  Commission Implementing Regulation (EU) No 1317/2014 of 11 December 2014 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties in Regulations (EU) No 575/2013 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 355, 12.12.2014, p. 6).

      (5)  Commission Implementing Regulation (EU) 2015/880 of 4 June 2015 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012 of the European Parliament and of the Council (OJ L 143, 9.6.2015, p. 7).

      (6)  Commission Implementing Regulation (EU) 2015/2326 of 11 December 2015 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 and Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 328, 12.12.2015, p. 108).

      (7)  Commission Implementing Regulation (EU) 2016/892 of 7 June 2016 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 and Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 151, 8.6.2016, p. 4).

      (8)  Commission Implementing Regulation (EU) 2016/2227 of 9 December 2016 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 and Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 336, 10.12.2016, p. 36).

      (9)  Commission Implementing Decision (EU) 2016/377 of 15 March 2016 on the equivalence of the regulatory framework of the United States of America for central counterparties that are authorised and supervised by the Commodity Futures Trading Commission to the requirements of Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 70, 16.3.2016, p. 32).

      (10)  Commission Implementing Decision (EU) 2016/2269 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in India in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 38).

      (11)  Commission Implementing Decision (EU) 2016/2275 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in Japan in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 57).

      (12)  Commission Implementing Decision (EU) 2016/2276 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in Brazil in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 61).

      (13)  Commission Implementing Decision (EU) 2016/2277 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in the Dubai International Financial Centre in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 65).

      (14)  Commission Implementing Decision (EU) 2016/2278 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in the United Arab Emirates in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 68).

      (15)  Commission Implementing Decision (EU) 2016/2274 of 15 December 2016 on the equivalence of the regulatory framework for central counterparties in New Zealand in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 342, 16.12.2016, p. 54).