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Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements · European Union
Member States shall ensure that on the occurrence of an enforcement event, the collateral taker shall be able to realise in the following manners, any financial collateral provided under, and subject to the terms agreed in, a security financial collateral arrangement: financial instruments by sale or appropriation and by setting off their value against, or applying their value in discharge of, the relevant financial obligations; cash by setting off the amount against or applying it in discharge of the relevant financial obligations.
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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.