(211)

Article 429c is amended as follows: in paragraph 3, point (a) is replaced by the following: ; for trades not cleared through a QCCP, the cash received by the recipient counterparty is not segregated from the assets of the institution;’ paragraph 4 is replaced by the following: ; For the purposes of paragraph 1 of this Article, institutions shall not include collateral received in the calculation of NICA as defined in Article 272, point (12a).’ the following paragraph is inserted: ‘4a. By way of derogation from paragraphs 3 and 4, an institution may recognise any collateral received in accordance with Part Three, Title II, Chapter 6, Section 3 where all of the following conditions are met: ; the collateral is received from a client for a derivative contract cleared by the institution on behalf of that client; the contract referred to in point (a) is cleared through a QCCP; where the collateral has been received in the form of initial margin, that collateral is segregated from the assets of the institution.’ in paragraph 6, the first subparagraph is replaced by the following: ‘By way of derogation from paragraph 1 of this Article, institutions may use the method set out in Part Three, Title II, Chapter 6, Section 4 or 5 to determine the exposure value of the following: ; derivative contracts listed in Annex II and credit derivatives, where they also use that method for determining the exposure value of those contracts for the purposes of meeting the own funds requirements set out in Article 92(1), points (a), (b) and (c); credit derivatives to which they apply the treatment set out in Article 273(3) or (5), where the conditions to use that method are met.’

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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.