25.

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

An early amortisation provision shall be considered to be ‘controlled’ where the following conditions are met: the originator credit institution has an appropriate capital/liquidity plan in place to ensure that it has sufficient capital and liquidity available in the event of an early amortisation; throughout the duration of the transaction there is pro-rata sharing between the originator's interest and the investor's interest of payments of interest and principal, expenses, losses and recoveries based on the balance of receivables outstanding at one or more reference points during each month; the amortisation period is considered sufficient for 90 % of the total debt (originator's and investors' interest) outstanding at the beginning of the early amortisation period to have been repaid or recognised as in default; and the speed of repayment is no more rapid than would be achieved by straight-line amortisation over the period set out in point (c).

← anx_IX__cpt_4__cpt_2__cpt_5__cpt_3__point_24__text_1 · All articles · anx_IX__cpt_4__cpt_2__cpt_5__cpt_3__point_25__text_1 →

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