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 and 8 to 9 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:

1. (a)

   insufficient availability of unencumbered or liquid assets to the relevant counterparty when due;

2. (b)

   impediments of an operational nature which effectively delay or prevent such transfers or repayments when due.