
COMMISSION DELEGATED REGULATION (EU) No 625/2014 of 13 March 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council by way of regulatory technical standards specifying the requirements for investor, sponsor, original lender and originator institutions relating to exposures to transferred credit risk (Text with EEA relevance) (revoked) 

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CHAPTER I
DEFINITIONS AND EXPOSURE TO THE RISK OF A SECURITISATION
Definitions
Article 1 
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CHAPTER II
EXPOSURE TO THE CREDIT RISK OF A SECURITISATION POSITION
Particular cases of exposure to the credit risk of a securitisation position
Article 2 
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CHAPTER III
RETENTION OF NET ECONOMIC INTEREST
Retainers of material net economic interest
Article 3 
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Fulfilment of the retention requirement through a synthetic or contingent form of retention
Article 4 
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Retention option (a): pro rata retention in each of the tranches sold or transferred to investors
Article 5 
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Retention option (b): retention of the originator's interest for revolving exposures
Article 6 
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Retention option (c): retention of randomly selected exposures
Article 7 
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Retention option (d): retention of the first loss tranche
Article 8 
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Retention option (e): retention of a first loss in every securitised exposure
Article 9 
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Measurement of the level of retention
Article 10 
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Measurement of retention for the undrawn amounts in exposures in the form of credit facilities
Article 11 
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Prohibition of hedging or selling the retained interest
Article 12 
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Exemptions to Article 405(1) of Regulation (EU) No 575/2013
Article 13 
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Retention on a consolidated basis
Article 14 
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CHAPTER IV
DUE DILIGENCE REQUIREMENTS FOR INSTITUTIONS BECOMING EXPOSED TO A SECURITISATION POSITION
Outsourcing and other general considerations
Article 15 
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Specification of risk characteristics and structural features
Article 16 
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Frequency of review
Article 17 
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Stress Tests
Article 18 
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Exposures in the trading book and non-trading book
Article 19 
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Positions in the correlation trading portfolio
Article 20 
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CHAPTER V
REQUIREMENTS FOR ORIGINATORS, SPONSORS AND ORIGINAL LENDERS
Policies for credit granting
Article 21 
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Disclosure of the level of the commitment to maintain a net economic interest
Article 22 
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Disclosure of materially relevant data
Article 23 
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CHAPTER VI
FINAL PROVISIONS
Entry into force
Article 24 
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