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In this act Article 34 of 42
Text as of 14 Feb 2023 · Consolidated version of 14 February 2023 · Same wording as today’s text.Today’s text

Article 34 — Applicable criteria on the practical impediments to the prompt transfer of own funds and repayment of liabilities

Financial servicesLevel 2RTSEMIRIn forceOfficial source

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 Article 11 of Regulation (EU) No 648/2012 shall be deemed to exist where there are restrictions of a practical nature, including any of the following:

34(a)
(a)insufficient availability of unencumbered or liquid assets to the relevant counterparty when due;
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34(b)
(b)impediments of an operational nature which effectively delay or prevent such transfers or repayments when due.
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CHAPTER IV — TRANSITIONAL AND FINAL PROVISIONS