# The Bank Levy (Loss Absorbing Instruments) Regulations 2020, Regulation 3: Loss absorbing instruments issued by overseas subsidiaries

Extent: E+W+S+N.I.

(1) Equities and liabilities that meet the description set out in paragraph (2) are specified for the purposes of paragraph 15V(3)(b) of Schedule 19.
(2) So much of the equities and liabilities that—
(a) would have fallen within the definition of Tier one capital equities and liabilities within the meaning of paragraph 30 of Schedule 19, but
(b) do not fall within that definition because an amount in respect of those equities and liabilities was deducted—
(i) under Article 36 of Chapter 3 of the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook or Article 56(d) of the Capital Requirements Regulation, and
(ii) in respect of a loss absorbing instrument issued by a non-UK resident entity which is a subsidiary of a UK resident entity within paragraph 15W(5) of Schedule 19.

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Source: https://www.legislation.gov.uk/uksi/2020/1188/regulation/3 (the official version)
Page: https://openlegislation.uk/bank-levy-loss-absorbing-instruments-regulations-2020/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.