{
  "url": "https://openlegislation.uk/capital-buffers-and-macro-prudential-measures-regulations-2025/regulation-17",
  "json_url": "https://openlegislation.uk/capital-buffers-and-macro-prudential-measures-regulations-2025/regulation-17.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/17",
  "kind": "regulation",
  "number": "17",
  "heading": "O-SII buffer rates: the FPC framework",
  "text": "(1) The FPC must establish a framework for O-SII buffer rates in the United Kingdom in accordance with this regulation (“the FPC framework”).\n(2) The FPC framework must contain the following elements—\n(a) a set of criteria for assessing the extent to which the failure or distress of a relevant O-SII might pose a risk to the financial system of the United Kingdom,\n(b) a methodology for measuring those criteria and giving a relevant O-SII a single score in relation to those criteria, and\n(c) in relation to each score that a relevant O-SII may receive, a buffer rate that corresponds to the score.\n(3) For the purposes of paragraph (2)(a)—\n(a) a relevant O-SII is in distress only if it experiences a significant deterioration in its financial situation, and\n(b) the criteria to be specified must each be—\n(i) measurable, and\n(ii) capable of being applied to a relevant O-SII on an individual basis, a sub-consolidated basis and a consolidated basis.\n(4) The only buffer rates that the FPC may specify for the purposes of paragraph (2)(c) are 0%, 1%, 1.5%, 2%, 2.5% and 3%.\n(5) The FPC must ensure that the way in which buffer rates correspond to scores in the FPC framework—\n(a) is clear, precise and unambiguous,\n(b) ensures that a score corresponds to one buffer rate only,\n(c) may not be expressed in terms of a discretion conferred on a person or body (including the FPC), and\n(d) may be expressed by way of a formula, an algorithm, a graph or a table.\n(6) The Bank must publish each element of the FPC framework, together with the FPC’s justification for each element.",
  "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/17",
    "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."
}