(a)

the obligor can meet its financial obligations even under severely stressed conditions due to the presence of all of the following features: adequate exposure-to-value of the exposure; conservative repayment profile of the exposure; commensurate remaining lifetime of the assets upon full pay-out of the exposure or alternatively recourse to a protection provider with high creditworthiness; low refinancing risk of the exposure by the obligor or that risk is adequately mitigated by a commensurate residual asset value or recourse to a protection provider with high creditworthiness; the obligor has contractual restrictions over its activity and funding structure; the obligor uses derivatives only for risk-mitigation purposes; material operating risks are properly managed;

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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.