Options and discretions

Published: 24/7/2014 Modified: 28/7/2021

This section provides information on the manner of exercising the options and discretions available in Union law.

Links

 

OPTIONS AND DISCRETIONS SET OUT IN DIRECTIVE 2013/36/EU, REGULATION (EU) NO 575/2013 AND LCR DELEGATED REGULATION (EU) 2015/61 PDF

EU regulations

Croatian regulations

In addition to options and discretions listed in the attached table, the Republic of Croatia has also used the option provided under Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (Article 402(1) and (2)) and for the purposes of calculating large exposures prohibited reducing the value of an exposure or any part of the exposure that is fully secured by residential or commercial immovable property by the pledged amount of the market or mortgage lending value of the property concerned (Article 145b of the Credit Institutions Act).

 

TRANSITIONAL OPTIONS AND DISCRETIONS SET OUT IN DIRECTIVE 2013/36/EU AND REGULATION (EU) NO 575/2013  PDF

EU regulations

Croatian regulations

In addition to options and discretions in the transition period listed in the attached table, the Croatian National Bank, in order to avoid unnecessary limitations for credit institutions that were investing in euro-denominated government bonds, has also used the option provided under Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic, which enables competent authorities, in the transition period until 31 December 2025, to allow institutions to increase large exposure limits for exposures to central governments and central banks of Member States where those exposures are denominated and funded in the domestic currency of another Member State (Article 500a (2) of Regulation (EU) 2020/873), and provided for transitional arrangements in terms of the treatment of such exposures (Article 3a of the Decision on large exposures of credit institutions).

 

VARIABLE ELEMENTS OF REMUNERATION (ARTICLE 94 OF DIRECTIVE 2013/36/EU)  PDF

EU regulations

Croatian regulations

In addition to options and discretions set out in the attached table, the Republic of Croatia also used the option available under Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures (Article 94(4) and (5)) and for the purposes of exemption regarding deferral of variable remuneration, award of variable remuneration in instruments and retaining and paying discretionary pension benefits in instruments pursuant to Article 94(3) of the mentioned Directive and adjusted the threshold for a credit institution that is not a large credit institution to the amount of assets equivalent to one billion euro and the threshold for small remuneration of staff to the amount of 200,000.00 kuna (Article 3, paragraph (1), items (28a) and (29d) and Article 100, paragraph (2) of the Credit Institutions Act).