L 196/14 Official Journal of the European Union 28.7.2009 COMMISSION DIRECTIVE 2009/83/EC of 27 July 2009 amending certain Annexes to Directive 2006/48/EC of the European Parliament and of the Council as regards technical provisions concerning risk management (Text with EEA relevance) THE COMMISSION OF THE EUROPEAN COMMUNITIES, HAS ADOPTED THIS DIRECTIVE: Having regard to the Treaty establishing the European Community, Having regard to Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institu- tions (1), in particular Article 150(1)(]) thereof, Article 1 Directive 2006/48/EC is amended as follows: 1. in Annex V, point 8 is replaced by the following: ‘8. The risks arising from securitisation transactions in Whereas: (1) In order to ensure a coherent implementation and appli- cation throughout the EU of Directive 2006/48/EC, the Commission and the Committee of European Banking Supervisors set up a working group (Capital Requirements  Directive  Transposition  Group — relation to which the credit institutions are investor, originator or sponsor shall be evaluated and addressed through appropriate policies and procedures. These policies and procedures shall in particular ensure that the economic substance of the transaction is fully reflected in the risk assessment and management deci- sions.’; CRDTG) in 2006, entrusted with the task of discussing 2. Annex VI, Part 1, is amended as follows: and resolving issues related to the implementation and application of that Directive. According to the CRDTG, certain technical provisions included in Annexes V, VI, VII, VIII, IX, X and XII to Directive 2006/48/EC need to (a) in point 29, the introductory phrase is replaced by the be further specified in order to ensure a convergent application. Moreover, certain provisions are not commensurate with sound risk management practices of credit institutions. It is therefore appropriate to adjust these provisions. (2)  For the sake of achievement of the internal market, the ways in which a credit institution can demonstrate that there is significant transfer of risk off its balance sheet should be clarified. It is also appropriate to increase the credit conversion factor for liquidity facilities granted by credit institutions to off-balance sheet vehicles. following: 29. Exposures to institutions with a residual maturity of more than three months for which a credit assessment by a nominated ECAI is available shall be assigned a risk weight according to Table 4 in accordance with the assignment by the competent authorities of the credit assessments of eligible ECAIs to six steps in a credit quality assessment scale.’; (b) in point 31, the introductory phrase is replaced by the (3)  Directive 2006/48/EC should therefore be amended accordingly. (4)  The measures provided for in this Directive are in accordance with the opinion of the European Banking Committee, () O] L 177, 30.6.2006, p. 1. following: ‘31. Exposures to an institution of up to three months residual maturity for which a credit assessment by a nominated ECAI is available shall be assigned a risk-weight according to Table 5 in accordance with the assignment by the competent authorities of the credit assessments of eligible ECAIs to six steps in a credit quality assessment scale’;