(c)

Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) · European Union

The instruments used to transfer credit risk do not contain terms or conditions that: impose significant materiality thresholds below which credit protection is deemed not to be triggered if a credit event occurs; allow for the termination of the protection due to deterioration of the credit quality of the underlying exposures; other than in the case of early amortisation provisions, require positions in the securitisation to be improved by the originator credit institution; increase the credit institutions' cost of credit protection or the yield payable to holders of positions in the securitisation in response to a deterioration in the credit quality of the underlying pool; and

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.