In order to qualify as level 2B assets, the restricted-use committed liquidity facilities that may be provided by a central bank as referred to in paragraph (1)(d) of Article 12 shall fulfil all of the following criteria:

(a) during a non-stress period, the facility is subject to a commitment fee on the total committed amount which is at least the greater of the following:

(i) 75 basis points per annum; or

(ii) at least 25 basis points per annum above the difference in yield on the assets used to back the facility and the yield on a representative portfolio of liquid assets, after adjusting for any material differences in credit risk;

During a stress period, the central bank may reduce the commitment fee described in the first subparagraph of this point, provided that the minimum requirements applicable to liquidity facilities under the alternative liquidity approaches in accordance with Article 19 are met;

(b) the facility is backed by unencumbered assets of a type specified by the central bank. The assets provided as collateral shall fulfil all of the following criteria:

(i) they are held in a form which facilitates their prompt transfer to the central bank in the event of the facility being called;

(ii) their value post-haircut as applied by the central bank is sufficient to cover the total amount of the facility;