Betekenis van:
covered option

covered option
Zelfstandig naamwoord
    • a put or call option backed by the shares underlying the option



    1. When applying the option provided for in paragraph 1, Member States may specify the supplies of goods and services covered, and the categories of suppliers or recipients to whom these measures may apply.
    2. The competent authorities shall require that the model captures accurately all the material price risks of options or option‐like positions and that any other risks not captured by the model are covered adequately by own funds.
    3. The option to request exemption from compulsory Swiss sickness insurance should be offered to pensioners who receive a Swiss pension and who reside in Portugal as they will be covered by the Portuguese sickness insurance.
    4. Member States making use of this Article shall communicate to the Commission the measures that they have adopted for applying the option provided for in paragraph 1, including a list of organisations covered by the exemption, the names of the natural persons who ultimately control those organisations and an explanation of how the list will be updated.
    5. Where Member States exercise the option provided for in this Section, they shall take the measures necessary to ensure that the intra-Community acquisition of goods intended to be placed under one of the arrangements or in one of the situations referred to in Article 156, Article 157(1)(b) or Article 158 is covered by the same provisions as the supply of goods carried out within their territory under the same conditions.
    6. In view of long-term commitments, especially in the structured finance field, an immediate exit is not possible, however, the only option being an extensive reduction in risk positions of about [...]* % by the end of the restructuring period in 2006. The remainder is to be terminated as soon as possible, apart from a limited number of export financing operations covered by export credit agencies and medium‐ to long-term financing of goods transactions in selected target countries in central and eastern Europe on the basis of proven country expertise; these are being integrated into the capital market business and are to be retained.