1. EXPOSURES TO CENTRAL GOVERNMENTS OR CENTRAL BANKS

Without prejudice to points 2 to 7, exposures to central governments and central banks shall be assigned a 100 % risk weight. Subject to point 3, exposures to central governments and central banks for which a credit assessment by a nominated ECAI is available shall be assigned a risk weight according to Table 1 in accordance with the assignment by the competent authorities of the credit assessments of eligible ECAIs to six steps in a credit quality assessment scale. Table 1 Credit quality step 1 2 3 4 5 6 Risk weight 0 % 20 % 50 % 100 % 100 % 150 % Exposures to the European Central Bank shall be assigned a 0 % risk weight. Exposures to Member States' central governments and central banks denominated and funded in the domestic currency of that central government and central bank shall be assigned a risk weight of 0 %. When the competent authorities of a third country which apply supervisory and regulatory arrangements at least equivalent to those applied in the Community assign a risk weight which is lower than that indicated in point 1 to 2 to exposures to their central government and central bank denominated and funded in the domestic currency, Member States may allow their credit institutions to risk weight such exposures in the same manner. Export Credit Agency credit assessments shall be recognised by the competent authorities if either of the following conditions is met: it is a consensus risk score from Export Credit Agencies participating in the OECD ‘Arrangement on Guidelines for Officially Supported Export Credits’; or the Export Credit Agency publishes its credit assessments, and the Export Credit Agency subscribes to the OECD agreed methodology, and the credit assessment is associated with one of the eight minimum export insurance premiums (MEIP) that the OECD agreed methodology establishes. Exposures for which a credit assessment by an Export Credit Agency is recognised for risk weighting purposes shall be assigned a risk weight according to Table 2. Table 2 MEIP 0 1 2 3 4 5 6 7 Risk weight 0 % 0 % 20 % 50 % 100 % 100 % 100 % 150 %

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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.