QA2017-109 - Guidance T03.02 / T03.03

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Feb 01, 2024
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QA2017-109

Question


Could you please confirm that the only financial guarantees should be reported? If so, can we apply the definition of “financial guarantees” provided in the Implementing Regulation (EU) No 680/2014? [Annex V - FinRep: The following items of Annex I of the CRR shall be classified as “financial guarantees”: (a) “Guarantees having the character of credit substitute”. (b) “Credit derivatives” that meet the definition of financial guarantee. (c) “Irrevocable standby letters of credit having the character of credit substitutes”]


Response


In line with the classes of guarantees that can be reported through these two tables, they should not only cover guarantees for credit risk, but also for liquidity or other financial risks. As such, the reference to the implementing regulation does not seem entirely appropriate.