(b)

the following point is inserted: ; the institution’s exposures to its shareholders, provided that such exposures are collateralised to the level of at least 125 % by assets referred to in Article 129(1), points (d) and (e), and those assets are accounted for in the shareholders’ leverage ratio requirement, where the institution is not a public development credit institution but it meets the following conditions: its shareholders are credit institutions and do not exercise control over the institution; it complies with paragraph 2, points (a), (b), (c) and (e), of this Article; its exposures are located in the same Member State; it is subject to some form of oversight by a Member State’s central government on an ongoing basis; its business model is limited to the pass-through of the amount corresponding to the proceeds raised through the issuance of covered bonds to its shareholders, in the form of debt instruments;’

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.