- Latest available (Revised)
- Original (As adopted by EU)
Commission Delegated Regulation (EU) 2015/61Show full title
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 (Text with EEA relevance)
You are here:
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland and Northern Ireland)
- Show Timeline of Changes
More Resources
Revised version PDFs
- Revised 30/04/20200.54 MB
Legislation originating from the EU
When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.
This item of legislation originated from the EU
Legislation.gov.uk publishes the UK version. EUR-Lex publishes the EU version. The EU Exit Web Archive holds a snapshot of EUR-Lex’s version from IP completion day (31 December 2020 11.00 p.m.).
Changes over time for: Article 27
Changes to legislation:
There are outstanding changes not yet made to Commission Delegated Regulation (EU) 2015/61. Any changes that have already been made to the legislation appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Article 27:
- Regulation revoked by 2023 c. 29 Sch. 1 Pt. 1 3
- Regulation revoked by S.I. 2021/1078 reg. 13(1)(a)
- Art. 27(2) words substituted by S.I. 2018/1401 reg. 241(b)
- Art. 27(3) omitted by S.I. 2018/1401 reg. 241(c)
Changes and effects yet to be applied to the whole legislation item and associated provisions
- Signature words omitted by S.I. 2018/1401 reg. 251
- Art. 2(3)(d) words substituted by S.I. 2018/1401 reg. 227(4)(d)
- Art. 3(1) words substituted by S.I. 2018/1401 reg. 228(a)
- Art. 3(2) words substituted by S.I. 2018/1401 reg. 228(b)
- Art. 3(5) words substituted by S.I. 2018/1401 reg. 228(c)
- Art. 3(6) omitted by S.I. 2018/1401 reg. 228(d)
- Art. 3(9) words substituted by S.I. 2018/1401 reg. 228(e)
- Art. 3(9A) inserted by S.I. 2018/1401 reg. 228(f)
- Art. 3(13)-(16) inserted by S.I. 2018/1401 reg. 228(g)
- Art. 3(13)(14) words substituted in earlier amending provision S.I. 2018/1401, reg. 228(g) by S.I. 2020/1301 reg. 3 Sch. para. 11(j)
- Art. 7(2)(a) words omitted by S.I. 2018/1401 reg. 230(a)
- Art. 7(4)(g) words substituted by S.I. 2018/1401 reg. 230(b)
- Art. 7(7)(d) omitted by S.I. 2018/1401 reg. 230(d)
- Art. 8(1)(b) words substituted by S.I. 2018/1401 reg. 231(a)(i)
- Art. 8(1)(b) words substituted by S.I. 2018/1401 reg. 231(a)(ii)
- Art. 10(1)(b)(i) words substituted by S.I. 2018/1401 reg. 232(a)
- Art. 10(1)(b)(iii) words omitted by S.I. 2018/1401 reg. 232(c)
- Art. 10(1)(b)(ii) words inserted by S.I. 2018/1401 reg. 232(b)(i)
- Art. 10(1)(b)(ii) words inserted by S.I. 2018/1401 reg. 232(b)(ii)
- Art. 10(1)(c)(i) words substituted by S.I. 2018/1401 reg. 232(d)
- Art. 10(1)(c)(v) words substituted by S.I. 2018/1401 reg. 232(f)
- Art. 10(1)(c)(iii) words substituted by S.I. 2018/1401 reg. 232(e)(i)
- Art. 10(1)(c)(iii) words substituted by S.I. 2018/1401 reg. 232(e)(ii)
- Art. 10(1)(e)(i) words substituted by S.I. 2018/1401 reg. 232(e)(i)
- Art. 10(1)(e)(i) words substituted by S.I. 2018/1401 reg. 232(e)(ii)
- Art. 10(1)(e)(ii) words substituted by S.I. 2018/1401 reg. 232(g)(i)
- Art. 10(1)(e)(ii) words substituted by S.I. 2018/1401 reg. 232(g)(ii)
- Art. 10(1)(f)(i) words substituted by S.I. 2018/1401 reg. 232(h)
- Art. 11(1)(a) words substituted by S.I. 2018/1401 reg. 233(a)
- Art. 11(1)(c)(i) words substituted by S.I. 2018/1401 reg. 233(b)
- Art. 11(1)(d)(ii) words substituted by S.I. 2018/1401 reg. 233(c)
- Art. 12(1)(c)(i) words substituted by S.I. 2018/1401 reg. 234(a)
- Art. 12(1)(c)(ii) words substituted by S.I. 2018/1401 reg. 234(b)
- Art. 12(1)(d) words substituted by S.I. 2018/1401 reg. 234(c)
- Art. 12(1)(e)(i) words substituted by S.I. 2018/1401 reg. 234(d)
- Art. 12(1)(e)(v) words substituted by S.I. 2018/1401 reg. 234(e)
- Art. 13(2)(g) words substituted by S.I. 2019/660 reg. 55(2)(a)
- Art. 13(2)(g)(i) words substituted by S.I. 2019/660 reg. 55(2)(b)
- Art. 13(2)(g)(v) words substituted by S.I. 2019/660 reg. 55(2)(f)
- Art. 13(2)(g)(iii) words substituted by S.I. 2019/660 reg. 55(2)(d)
- Art. 13(2)(g)(ii) omitted by S.I. 2019/660 reg. 55(2)(c)
- Art. 13(2)(g)(iv) words substituted by S.I. 2019/660 reg. 55(2)(e)(i)
- Art. 13(2)(g)(iv) words substituted by S.I. 2019/660 reg. 55(2)(e)(ii)
- Art. 13(2)(g)(iv) words substituted in earlier amending provision S.I. 2019/660, reg. 55(2)(e)(ii) by S.I. 2020/1301 reg. 3 Sch. para. 35(h)(i)
- Art. 13(14)(a) words substituted by S.I. 2019/660 reg. 55(7)
- Art. 19(1)(b) words substituted by S.I. 2018/1401 reg. 236(a)
- Art. 25(2)(e) words substituted by S.I. 2018/1401 reg. 239(a)
- Art. 25(2)(e) words substituted by S.I. 2018/1401 reg. 239(b)
- Art. 26(c)(ii) words substituted by S.I. 2018/1401 reg. 240
- Art. 27(1)(b) omitted by S.I. 2018/1401 reg. 241(a)
- Art. 28(3)(d)(ii) words substituted by S.I. 2018/1401 reg. 242(b)
- Art. 29(1)(b) words omitted by S.I. 2018/1401 reg. 243(c)
- Art. 29(1)(b) words substituted by S.I. 2018/1401 reg. 243(b)
- Art. 29(1)(d) words substituted by S.I. 2018/1401 reg. 243(d)
- Art. 32(3)(d) words omitted by S.I. 2018/1401 reg. 246
- Art. 33(2)(a) words substituted by S.I. 2018/1401 reg. 247(a)
- Art. 33(2)(b) words omitted by S.I. 2018/1401 reg. 247(b)
- Art. 33(4)(b) substituted by S.I. 2018/1401 reg. 247(c)
- Art. 33(4)(b) words substituted in earlier amending provision S.I. 2018/1401, reg. 247(c) by S.I. 2020/1301 reg. 3 Sch. para. 11(k)
- Art. 34(1)(b) words omitted by S.I. 2018/1401 reg. 248(c)
- Art. 34(1)(b) words substituted by S.I. 2018/1401 reg. 248(b)
- Art. 34(1)(d) words substituted by S.I. 2018/1401 reg. 248(d)
Article 27U.K.Outflows from operational deposits
1.Credit institutions shall multiply by 25 % liabilities resulting from deposits that are maintained as follows:
(a)by the depositor in order to obtain clearing, custody, cash management or other comparable services in the context of an established operational relationship from the credit institution;
(b)in the context of common task sharing within an institutional protection scheme meeting the requirements of Article 113(7) of Regulation (EU) No 575/2013 or within a group of cooperative credit institutions permanently affiliated to a central body meeting the requirements of Article 113(6) of that Regulation, or as a legal or contractually established deposit by another credit institution that is a Member of the same institutional protection scheme or cooperative network, provided those deposits are not recognised as liquid assets for the depositing credit institution as referred to in paragraph 3 and Article 16;
(c)by the depositor in the context of an established operational relationship other than that mentioned in point (a);
(d)by the depositor to obtain cash clearing and central institution services and where the credit institution belongs to one of the networks or schemes referred to in Article 16.
2.By derogation from paragraph 1, credit institutions shall multiply by 5 % the portion of liabilities resulting from deposits referred to in paragraph 1(a) which is covered by a deposit guarantee scheme in accordance with Directive 94/19/EC or Directive 2014/49/EU or an equivalent deposit guarantee scheme in a third country.
3.Deposits from credit institutions placed at the central institution that are considered as liquid assets for the depositing credit institution in accordance with Article 16 shall be multiplied by a 100 % outflow rate for the central institution on the amount of these liquid assets after haircut. These liquid assets shall not be counted to cover outflows other than the outflow referred to in the first sentence of this paragraph and shall be disregarded for the purposes of the calculations of the composition of the remaining liquidity buffer under Article 17 for the central institution at individual level.
4.Clearing, custody, cash management or other comparable services referred to in points (a) and (d) of paragraph 1 only cover such services to the extent that they are rendered in the context of an established relationship which is critically important to the depositor. Deposits referred to in points (a), (c) and (d) of paragraph 1 shall have significant legal or operational limitations that make significant withdrawals within 30 calendar days unlikely. Funds in excess of those required for the provision of operational services shall be treated as non-operational deposits.
5.Deposits arising out of a correspondent banking relationship or from the provision of prime brokerage services shall not be treated as an operational deposit and shall receive a 100 % outflow rate.
6.In order to identify the deposits referred to in point (c) of paragraph 1, a credit institution shall consider that there is an established operational relationship with a non-financial customer, excluding term deposits, savings deposits and brokered deposits, where all of the following criteria are met:
(a)the remuneration of the account is priced at least 5 basis points below the prevailing rate for wholesale deposits with comparable characteristics, but need not be negative;
(b)the deposit is held in specifically designated accounts and priced without creating economic incentives for the depositor to maintain funds in the deposit in excess of what is needed for the operational relationship;
(c)material transactions are credited and debited on a frequent basis on the account considered;
(d)one of the following criteria is met:
(i)
the relationship with the depositor has existed for at least 24 months;
(ii)
the deposit is used for a minimum of 2 active services. These services may include direct or indirect access to national or international payment services, security trading or depository services.
Only that part of the deposit which is necessary to make use of the service of which the deposit is a by-product shall be treated as an operational deposit. The excess shall be treated as non-operational.
Options/Help
Print Options
PrintThe Whole Regulation
PrintThe Whole Title
PrintThe Whole Chapter
PrintThis Article only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
See additional information alongside the content
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the EU Official Journal
- lists of changes made by and/or affecting this legislation item
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
Timeline of Changes
This timeline shows the different versions taken from EUR-Lex before exit day and during the implementation period as well as any subsequent versions created after the implementation period as a result of changes made by UK legislation.
The dates for the EU versions are taken from the document dates on EUR-Lex and may not always coincide with when the changes came into force for the document.
For any versions created after the implementation period as a result of changes made by UK legislation the date will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. For further information see our guide to revised legislation on Understanding Legislation.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.