Regulation 19 Date of application

Where the PRA sets a buffer rate for a relevant O-SII under regulation 18, the PRA must decide the date from which the relevant O-SII must apply that rate in the calculation of its O-SII buffer.

Where the PRA has set a buffer rate for a relevant O-SII under regulation 18 and determines that a buffer rate is no longer to be set for the relevant O-SII under that regulation, the PRA must decide the date from which the buffer rate ceases to have effect.