From the April Technical Specifications:
SCR.5.105 - footnote 24: "if the originator or sponsor of a structure credit product issued after 1 January 2011 or where underlying exposures are added or substituted after 31 December 2014 does not comply with the 5% net retention rate foreseen in the CRD (2006/48/EC), the capital requirement for the product should be 100%, regardless of the seniority of the position."
This 5% retention rule is not mentioned in The Delegated Acts.
Is this rule still the same as it is not mentioned in The Delegated Acts?
Article 135 (2) (a) of Directive 2009/138/EC refers to the (minimum) 5% retention rule, which is further specified in Article 254 of the Commission Delegated Regulation (EU) 2015/35.