EBU Single Rulebook Q&A 8 July 2014 2014_1354 Immediate obligor and ultimate obligor concerning exposures secured by mortgages on immovable property

In ‘Annex II – Reporting on own funds and own funds requirements’ we find the following instructions:‘3.4. Credit and counterparty credit risks and free deliveries: Information with geographical breakdown (CR GB)The term ‘residence of the obligor’ refers to the country of incorporation of the obligor. This concept can be applied on an immediate-obligor basis and on an ultimate-risk basis.