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🔗 Back to Summary. 🇫🇷 French Version: 2016R2251_FR.34. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 33 – Applicable criteria on the legal impediment to the prompt transfer of own funds and repayment of liabilities ⬅️ | ➡️ Article 35 – Transitional provisions
Article 34 - Applicable criteria on the practical impediments to the prompt transfer of own funds and repayment of liabilities
A practical impediment to the prompt transfer of own funds or repayment of liabilities between the counterparties as referred to in paragraphs 5 to 10 of 2012 shall be deemed to exist where there are restrictions of a practical nature, including any of the following:
(a)
insufficient availability of unencumbered or liquid assets to the relevant counterparty when due;
(b)
impediments of an operational nature which effectively delay or prevent such transfers or repayments when due.