Regulatory Alerts2023-06-30
Added · Updated
CSSF Regulation No 23-03 of 30 June 2023 transposing ECB Guideline (EU) 2022/508 and amending Regulation No 18-03
CSSF Regulation No 23-03 amends CSSF Regulation No 18-03 to implement ECB Guideline (EU) 2022/508 and exercise discretions under Regulation (EU) No 575/2013 and Delegated Regulation (EU) 2015/61. It extends pre-approval requirements for Additional Tier 1 and Tier 2 capital instruments to all investment firms, replaces 'CRR institutions' with 'credit institutions and investment firms' in Articles 3(1) and 4(1), and introduces exemptions for specific collateralized exposures and export credit guarantees from large exposure limits until 31 December 2028. The regulation also inserts new Articles 16a to 16f defining major stock indices, allowing corporate debt securities as level 2B assets for religious reasons, and specifying Net Stable Funding Ratio calculations for off-balance-sheet exposures and segregated assets, while repealing Articles 7, 11, 12, and 15 of the previous regulation.
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