Examples of Article 122a in a sentence
Article 122a also requires an EU regulated credit institution to be able to demonstrate that it has a comprehensive and thorough understanding of the key terms and risks of the transaction and it has undertaken certain due diligence in respect of, amongst other things, its note position and the underlying exposures and that procedures are established for such activities to be conducted on an on-going basis.
Article 122a restricts an EU regulated credit institution from investing in asset-backed securities unless the originator, sponsor or original lender in respect of the relevant securitisation has explicitly disclosed to the EU regulated credit institution that it will retain, on an ongoing basis, a net economic interest of not less than 5% in respect of certain specified credit risk tranches or asset exposures as contemplated by Article 122a.
If the Joint Committee, in accordance with Article 12.2(a) (Functions of the Joint Committee), adopts a decision approving the terms for an accession and inviting an accession candidate to become a Party, the Joint Committee shall specify a period, which may be subject to extension by agreement of the Parties, during which the accession candidate may deposit an instrument of accession with the Depositary indicating that it accepts the terms for the accession.
In the absence of specific interpretation given by ESMA or by the Joint Committee of the European Supervisory Authorities, the provisions of this Section shall be interpreted in a consistent manner with the corresponding provisions of Directive 2006/48/EC and with the Guidelines to Article 122a of the Capital Requirements Directive of 31 December 201014 issued by the Committee of European Banking Supervisors and their subsequent amendments.
Investors who are uncertain as to the requirements that will need to be complied with in order to avoid the additional regulatory charges for non compliance with Article 122a should seek guidance from their regulator.