Article 194 › 6

In the case of unfunded credit protection, a protection agreement shall qualify as an eligible protection agreement only where it meets both the following conditions: (a) it is included in the list of eligible protection agreements set out in Articles 203 and 204(1); (b) it is legally effective and enforceable in the relevant jurisdictions, to provide appropriate certainty as to the credit protection achieved having regard to the approach used to calculate risk-weighted exposure amounts and to the degree of recognition allowed; (c) the protection provider meets the criteria laid down in paragraph 5.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04