Article 1 › 5

‘5. For the sole purpose of calculating the applicable amount of insufficient coverage for non-performing exposures in accordance with paragraph 1, point (m), of this Article, by way of derogation from Article 47c and after having notified the competent authority, the applicable amount of insufficient coverage for non-performing exposures purchased by a specialised debt restructurer shall be zero. The derogation set out in this subparagraph shall apply on an individual basis and, in the case of groups in which all institutions qualify as specialised debt restructurers, on a consolidated basis. For the purposes of this paragraph, “specialised debt restructurer” means an institution that, during the preceding financial year, complied with all of the following conditions on both an individual and on a consolidated basis: (a) the main activity of the institution is the purchase, management and restructuring of non-performing exposures in accordance with a clear and effective internal decision process implemented by its management body; (b) the accounting value measured without taking into account any credit risk adjustments of its own originated loans does not exceed 15 % of its total assets; (c) at least 5 % of the accounting value measured without taking into account any credit risk adjustments’ of its own originated loans constitutes a total or partial refinancing, or the adjustment of relevant terms, of the purchased non-performing exposures that qualifies as a forbearance measure in accordance with Article 47b; (d) the total value of the assets of the institution does not exceed EUR 20 billion; (e) the institution maintains, on an ongoing basis, a net stable funding ratio of at least 130 %; (f) the sight deposits of the institution do not exceed 5 % of the total liabilities of the institution. The specialised debt restructurer shall notify the competent authority, without delay, if one or more of the conditions set out in the second subparagraph are no longer met. Competent authorities shall notify EBA at least on an annual basis of the application of this paragraph by institutions under their supervision. EBA shall establish, maintain, and publish a list of specialised debt restructurers. EBA shall monitor the activity of specialised debt restructurers and shall report by 31 December 2028 to the Commission on the results of such monitoring and, where appropriate, shall advise the Commission as to whether the conditions to qualify as “specialised debt restructurer” are sufficiently risk-based and appropriate in view of favouring the secondary market for non-performing loans, and assess if additional conditions are necessary.’

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