GroMiKV

Großkredit-und-Millionenkreditverordnung, also known as GroMiKV, is a German regulation transposing the CEBS guideline regarding the large exposure regime into national law. This regulation is relevant for German credit institutions which are obliged to report their large exposures to the supervisory authority in Germany. The regulation governs the reporting thresholds and limits for issuance of loans to single borrower units by banks and other financial service providers.

These rules give rise to a comprehensive array of requirements with respect to consolidation of credit risk positions across a variety of vehicles (including investment funds) and enterprises included in the same borrower unit. To support their German clients, asset managers are required to provide monthly reporting . The amended version of the GroMiKV that entered into force at the start of 2011 now also extends these requirements to target funds contained in an investment fund structure; look-through is now part of reporting requirements.

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