26.

The following parties may be recognised as eligible providers of unfunded credit protection: central governments and central banks; regional governments or local authorities; multilateral development banks; international organisations exposures to which a 0 % risk weight under Articles 78 to 83 is assigned; public sector entities, claims on which are treated by the competent authorities as claims on institutions or central governments under Articles 78 to 83; institutions; and other corporate entities, including parent, subsidiary and affiliate corporate entities of the credit institution, that: have a credit assessment by a recognised ECAI which has been determined by the competent authorities to be associated with credit quality step 2 or above under the rules for the risk weighting of exposures to corporates under Articles 78 to 83; and in the case of credit institutions calculating risk‐weighted exposure amounts and expected loss amounts under Articles 84 to 89, do not have a credit assessment by a recognised ECAI and are internally rated as having a PD equivalent to that associated with the credit assessments of ECAIs determined by the competent authorities to be associated with credit quality step 2 or above under the rules for the risk weighting of exposures to corporate under Articles 78 to 83.

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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.