Commission Delegated Regulation (EU) 2015/61 on liquidity coverage requirement for credit institutions
On 17 January 2015 the Official Journal of the European Union published the Commission Delegated Regulation (EU) 2015/61 of 10 October 2014 to supplement Regulation (EU) No 575/2013 of the European Parliament and the Council with regard to liquidity coverage requirement for credit institutions.
This Regulation lays down rules to specify in detail the liquidity coverage requirement provided for in Article 412(1) of Regulation (EU) No 575/2013 and shall apply to credit institutions supervised under Directive 2013/36/EU. Investment firms remain subject to the general liquidity requirement under article 412(1) of the CRR, however are not subject to the Regulation.
The Regulation will enter into force as from 1 October 2015 with the following transitional provisions:
a. 60% of the liquidity coverage requirement as from 1 October 2015;
b. 70% as from 1 January 2016;
c. 80% as from 1 January 2017;
d. 100% as from 1 January 2018.
We refer to the Deloitte regulatory news alert : Delegated regulation on liquidity coverage requirement for credit institutions we issued on 21 October 2014.