{
  "url": "https://openlegislation.uk/capital-buffers-and-macro-prudential-measures-regulations-2025/regulation-11",
  "json_url": "https://openlegislation.uk/capital-buffers-and-macro-prudential-measures-regulations-2025/regulation-11.json",
  "legislation": "uksi/2025/653",
  "legislation_title": "The Capital Buffers and Macro-prudential Measures Regulations 2025",
  "legislation_url": "https://openlegislation.uk/capital-buffers-and-macro-prudential-measures-regulations-2025",
  "path": "regulation/11",
  "kind": "regulation",
  "number": "11",
  "heading": "Date of application of buffer rates",
  "text": "(1) Where the FPC—\n(a) recognises or sets a buffer rate under regulation 9 in relation to exposures located outside the United Kingdom, and\n(b) the buffer rate is higher than the buffer rate which UK institutions are currently required to apply in relation to those exposures when calculating their institution-specific countercyclical capital buffers,\nthe FPC must decide the date from which the buffer rate must be applied by UK institutions that are subject to institution-specific countercyclical capital buffers.\n(2) The date referred to in paragraph (1)—\n(a) may be a date within the period of 12 months beginning with the publication day only if that date is justified on the basis of exceptional circumstances, and\n(b) may not be later than the period of 12 months beginning with the publication day where the FPC has set the buffer rate under regulation 9(2) or (4).\n(3) In this regulation, “publication day” means the day on which, in accordance with regulation 12, the Bank publishes the buffer rate recognised or set by the FPC under regulation 9.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/653/regulation/11",
    "retrieved_at": "2026-10-28T21:15:17.287852+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}