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the requirements provided for under Chapter V - “Information requirements” regarding the guarantees.
Article 6 - In order to establish the value whereby the amounts representing the credit exposures are
actually reduced, the amounts registered in the accounting records, related to the guarantees, shall
be adjusted through the application of coefficients ranging between 0 and 1, and the result shall be
limited to the level of the guaranteed amounts.
Article 7 The guarantees which can be taken into account by lenders to reduce the exposure against
the debtor are listed in the table of Annex No. 2, as well as other real property, according to the
internal rules of the lenders.
Article 8 - (1) The coefficients used for the adjustment of the amounts registered in the accounting
records, related to the guarantees listed in the table of Annex No. 2, shall be established by the
lender, for each category/case. The value of these coefficients cannot exceed the maximum value
that is specified in the table.
(2) The lender must have the supporting documentation that is needed to establish the value of the
coefficients provided under paragraph(1).
Article 9 - (1) Any real property guarantee, except for the general pledge, of the guarantees created
over future goods 2 and the real property provided in the table in Appendix No. 2, may be taken into
account to reduce the value of the lender’s exposure against the debtor, to a value which cannot
exceed the fair value thereof. For this purpose, lenders may only consider those real guarantees
for which they can establish the fair value based on their own methodology 3 as provided by their
internal regulations. In order to adjust the fair value, the lender shall establish the coefficients for
each category/case.
(2) The guarantee policies the object of which consists of debt receivables may be taken into
account for exposure reduction purposes only if the legal requirements in force on security interests
are met.
(3) The lender must have the supporting documentation that is needed to establish the value of the
coefficients provided under paragraph (1).
Article 10 - The insurance policies whose object is to guarantee/take over the risk of default shall
be assimilated to letters of guarantee issued by credit institutions and, consequently, lenders may
consider them as credit risk “mitigators”, if all of the following conditions are observed:
a) have characteristics that are similar to those imposed on the letters of guarantee issued by credit
institutions (express, irrevocable, and unconditional);
b) the credit risk was transferred outside the lender’s group through insurance/reinsurance
transactions conducted with insurance/reinsurance companies, and the insurance/reinsurance
companies from outside the group, which have taken over the risk, comply with the requirements of
the applicable community standards (or the standards that apply to insurance/reinsurance companies
2 The guarantees on future goods only produce effects as of the moment when the debtor
obtains the ownership of the goods and, as a consequence, they cannot be taken into account for
exposure reduction. E.g.: guarantees represented by the assignment of compensations given under
credit risk insurance policies, life insurance policies; guarantees represented by the assignment of
collections from future debts.
3 As the fair value is a category defined and regulated under the International Financial
Reporting Standards (IFRS), lenders shall prepare the methodologies used to establish the fair
value of the received real property, taking into account the aforesaid accounting standards.
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