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Banking Rule Book
Text applicable on 7 Oct 2026Consolidated version of 11 May 2026In forceUnofficial text · authentic on EUR-Lex (opens in a new tab)

BRRD Article 45a — as applicable on 7 Oct 2026 (version of 11 May 2026)

Article 45a

Exemption from the minimum requirement for own funds and eligible liabilities

On this provision: 1 EBA Q&A

1.

Notwithstanding Article 45, resolution authorities shall exempt from the requirement laid down in Article 45(1) mortgage credit institutions financed by covered bonds which are not allowed to receive deposits under national law, provided that all of the following conditions are met:

(a)

those institutions will be wound up in national insolvency proceedings, or in other types of proceedings laid down for those institutions and implemented in accordance with Article 38, 40 or 42; and

(b)

the proceedings referred to in point (a), ensure that creditors of those institutions, including holders of covered bonds, where relevant, bear losses in a way that meets the resolution objectives.

2.

Institutions exempted from the requirement laid down in Article 45(1) shall not be part of the consolidation referred to in Article 45e(1).