EBA Q&A · 2015_1879
Definition of "Refinancing" for the purpose of reporting in columns 040, 080 and 160 of template F 19.00
Final Q&Afiled under Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (repealed) (repealed)Submitted 10/03/2015 · published 13/12/2019
Question · verbatim
What is the appropriate definition of "Refinancing" for the purpose of reporting in columns 040, 080 and 160 of template F 19.00?
Background provided by the submitter · verbatim
In accordance with paragraph 167 of Annex V, ‘Refinancing’ means the use of debt contracts to ensure the total or partial payment of other debt contracts the current terms of which the debtor is unable to comply with. It is not clear, what are differences between "refinancing" and "modification".
Answer · verbatim
Refinancing, as defined in Annex V Part 2.244, ‘Refinancing’ shall mean the use of debt contracts to ensure the total or partial payment of other debt contracts the current terms of which the debtor is unable to comply with.
On the other hand, a modification is defined in Annex V Part 2.241 as “a modification of the previous terms and conditions of a contract that the debtor is considered unable to comply with due to its financial difficulties (‘troubled debt’) resulting in insufficient debt service ability and that would not have been granted had the debtor not been experiencing financial difficulties;”
Therefore, concessions that do not involve the issuance of additional debt contracts to repay old contracts shall be classified as a modification.
Similarly, as per Annex V 2.266, a repackaging of several debts into a new debt shall be reported as a modification, unless there is also a refinancing transaction that has a larger impact on cash-flows.
Source: EBA Single Rulebook Q&A 2015_1879 · text as published, not rephrased · collected on 2026-10-08