Examples of using Securitisation position in English and their translations into Romanian
{-}
-
Colloquial
-
Official
-
Medicine
-
Ecclesiastic
-
Ecclesiastic
-
Computer
-
Programming
Particular cases of exposure to the credit risk of a securitisation position.
Where a securitisation position benefits from full credit protection, the following requirements shall apply.
The use of each of the approaches depends on the information available to the institution holding the securitisation position.
Under the so-called'look-trough' approach a securitisation position receives a maximum RW equal to the average RW applicable to the underlying exposures.
(4) 're-securitisation' means securitisation where at least one of the underlying exposures is a securitisation position;
(8)‘rated position' means a securitisation position which has an eligible credit assessment by an eligible ECAI as defined in Section 4;
(g) all the structural features of the securitisation that can materially impact the performance of the institution's securitisation position.
Where the credit protection is not provided to the SSPE but directly to a securitisation position, the credit assessment shall not be recognised.
(7)‘unrated position' means a securitisation position which does not have an eligible credit assessment by an eligible ECAI as defined in Section 4;
Institutions shall use the SEC-IRBA to calculate risk-weighted exposure amounts in relation to a securitisation position where the following conditions are met.
The risk-weighted exposure amount of a securitisation position may be reduced by 12.5 times the amount of any specific credit adjustments made by the institution in respect of the position. .
Although securitisations that are simple, transparent andstandardised have in the past performed well, the satisfaction of any STS requirements does not mean that the securitisation position is free of risks, nor does it indicate anything about the credit quality underlying the securitisation. .
The risk-weighted exposure amount of a securitisation position shall be calculated by multiplying the exposure value of the position, calculated as set out in Article 248, by the relevant total risk weight.
Following the seller's default or an acceleration event, no substantial amount of cash shall be trapped in the SSPE andprincipal receipts from the underlying exposures shall be passed to investors holding a securitisation position via sequential payment of the securitisation positions, as determined by the seniority of the securitisation position. .
The risk-weighted exposure amount of a securitisation position shall be calculated by applying to the exposure value of the position, calculated as set out in Article 241, the relevant total risk weight.
(bd) the institution providing credit protection shall calculate risk-weighted exposure amounts for the securitisation position benefiting from credit protection in accordance with Subsection 3 as if it held that position directly;
The securitisation position shall be in a tranche which is economically in a second loss position or better in the securitisation and the first loss tranche shall provide meaningful credit enhancement to the second loss tranche;
Moreover, the credit support provided to the institution assuming exposure to a securitisation position should not decline disproportionately relative to the rate of repayment on the underlying exposures.
Unless a securitisation position is deducted from Common Equity Tier 1 items pursuant to Article 33(1)(k), the risk-weighted exposure amount shall be included in the institution's total of risk-weighted exposure amounts for the purposes of Article 87(3).
(14)'credit enhancement' means any arrangement which provides support for a securitisation position and serves to increase the likelihood that any such securitisation position will be repaid;
Where a securitisation position is assigned a 1250% risk weight, institutions may in accordance with Article 33(1)(k), as an alternative to including the position in their calculation of risk-weighted exposure amounts, deduct from own funds the exposure value of the position. .
The weightings in column C of Table 4 shall be applied where the securitisation position is not a re-securitisation position and where the effective number of exposures securitised is less than six.
Where a securitisation position is assigned a 1,250% risk weight under this Section, institutions may deduct the exposure value of such position from Common Equity Tier 1 capital in accordance with Article 36(1)(k) as an alternative to including the position in their calculation of risk-weighted exposure amounts.
Where risk-weighted exposure amounts are calculated using the Ratings Based Method,the exposure value or the risk-weight for a securitisation position in respect of which credit protection has been obtained may be modified in accordance with the provisions of Chapter 4 as they apply for the calculation of risk-weighted exposure amounts under Chapter 2.
Where an institution has a securitisation position in the form of a derivative, the institution may attribute to the derivative an inferred risk weight equivalent to the risk weight of the reference position calculated in accordance with this Article.
(az) the exposure value for the counterparty credit risk of a securitisation position that results from a derivative instrument listed in Annex II, shall be determined in accordance with Chapter 6.
(ax) the exposure value of an on-balance sheet securitisation position shall be its accounting value remaining after the relevant credit risk adjustments on the securitisation position have been applied in accordance with Article 110;
Institutions may use ECAI credit assessments to determine the risk weight of a securitisation position only where the credit assessment has been issued by an ECAI or has been endorsed by an eligible ECAI in accordance with Regulation(EC) No 1060/2009.
The risk-weighted exposure amount of a securitisation position to which a 1250% risk weight is assigned may be reduced by 12.5 times the amount of any specific credit adjustments made by the institution in respect of the securitised exposures.
Under the SEC-ERBA, the risk weighted exposure amount for a securitisation position shall be calculated by multiplying the exposure value of the position as calculated in accordance with Article 248 by the applicable risk weight in accordance with this Article.
