Article 15b Synthetic holdings for the purposes of Article 36(1)(f),(h) and (i) of Regulation (EU) No 575/2013

  1. (1)

    The following financial products shall be considered synthetic holdings of capital instruments pursuant to points (f), (h) and (i) of Article 36(1) of Regulation (EU) No 575/2013:

    1. (a)

      derivative instruments that have capital instruments of a financial sector entity as their underlying or have the financial sector entity as their reference entity;

    2. (b)

      guarantees or credit protection provided to a third party in respect of the third party's investments in a capital instrument of a financial sector entity.

  2. (2)

    The financial products provided for in paragraph 1 shall include the following:

    1. (a)

      investments in total return swaps on a capital instrument of a financial sector entity;

    2. (b)

      call options purchased by the institution on a capital instrument of a financial sector entity;

    3. (c)

      put options sold by the institution on a capital instrument of a financial sector entity or any other actual or contingent contractual obligation of the institution to purchase its own own funds instruments;

    4. (d)

      investments in forward purchase agreements on a capital instrument of a financial sector entity.