Article 510 of Regulation (EU) No 575/2013 is amended as follows:
(1)
paragraph 6 is amended as follows:
(a)
the introductory wording is replaced by the following:
‘EBA shall monitor the amount of stable funding required to cover the funding risk linked to securities financing transactions, including to the assets received or given in those transactions, and to unsecured transactions with financial customers, where such transactions have a residual maturity of less than six months. EBA shall report to the Commission by 31 January 2029, and every five years thereafter, on the appropriateness of that stable funding requirement. Taking into account international developments and the regulatory treatment of similar transactions in other jurisdictions, those reports shall assess at a minimum:’
;
(b)
points (d) and (e) are replaced by the following:
‘(d)
the adequacy of the asymmetric treatment between liabilities with a residual maturity of less than six months provided by financial customers that are subject to a 0 % available stable funding factor in accordance with Article 428k(3), point (c), and assets resulting from transactions with a residual maturity of less than six months with financial customers that are subject to a 0 %, 5 % or 10 % required stable funding factor in accordance with Article 428r(1), point (g), Article 428s(1), point (b), and Article 428v, point (a);
(e)
the impact of the introduction of higher or lower required stable funding factors for securities financing transactions, in particular with a residual maturity of less than six months, with financial customers, on:
(i)
the price structure of those transactions; and
(ii)
the market liquidity of assets received as collateral in those transactions, in particular of sovereign and corporate bonds;’
;
(2)
paragraphs 7 and 8 are deleted.