# The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (revoked) S.I. 2014/894 · made 1 April 2014 · revised to 31 July 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PDFs: Printed copy https://openlegislation.uk/capital-requirements-capital-buffers-and-macro-prudential-measures-regulations-2014-revoked/pdf/uksi_20140894_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/capital-requirements-capital-buffers-and-macro-prudential-measures-regulations-2014-revoked/pdf/uksiem_20140894_en.pdf ## Introductory text Financial Services And Markets Made 1st April 2014 Laid before Parliament 3rd April 2014 Coming into force in accordance with regulation 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 1: Introductory provisions ## 1 Citation, commencement and cessation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Conferral of functions or discretion on the FPC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Appeals: application of Part 9 of the Financial Services and Markets Act 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 2: Capital conservation buffer ## 5 Transitional provisions: 1st January 2016 to 31st December 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Exemption for small and medium-sized investment firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 3: Countercyclical Capital Buffer ### Chapter 1: Overview and interpretation ## 7 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Meaning of “UK institution” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: Exposures located in the United Kingdom ## 9 The buffer guide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Countercyclical buffer rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Date from which changes to the buffer rate apply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Announcement of changes to the buffer rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12A Buffer rate rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Exposures located outside the United Kingdom ## 13 Buffer rates for EEA exposures: before 1st January 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Buffer rates for EEA exposures: savings provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Buffer rates for exposures outside the UK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Buffer rates: integer multiples of 0.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Date of application of buffer rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Announcement of changes to buffer rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Institution-specific countercyclical capital buffers ## 19 Calculation of buffer before 1st January 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19A Application of the institution-specific countercyclical capital buffer to holding companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 Exemption for small and medium-sized investment firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 4: G-SII Buffer ## 21 Duty of PRA to identify G-SIIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 G-SIIs: location and nature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Identification methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Sub-catgories of G-SII and corresponding buffer rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Re-allocation in exercise of sound supervisory judgement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 26 Notification, publication and review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 Appeals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Transitional provision: 1st January 2016 to 31st December 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 5: O-SIIs ## 29 Duty of PRA to identify O-SIIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 30 O-SIIs: location and nature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 Identification of O-SIIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 Publication and review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 Appeals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 5ZA: O-SII Buffers ### Chapter 1: Interpretation and power to impose O-SII buffer ## 34 Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34ZA Power for the PRA to require an O-SII buffer to be maintained . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 2: United Kingdom buffer rates for O-SIIs ## 34ZB O-SII buffer rates: The FPC framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34ZC Determination by PRA of buffer rates for individual relevant O-SIIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 3: Date of application and calculation of O-SII buffer ## 34ZD Date of application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34ZE Calculation of buffer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Chapter 4: Publication, Review and Appeals ## 34ZF Publication: United Kingdom buffer rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34ZG Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34ZH Appeals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 5A: Systemic Risk Buffer ## 34A Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34B Third country buffer rates: recognition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34C Requirement to maintain a systemic risk buffer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34D Third country rates: application to relevant entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34E Calculation of the systemic risk buffer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34F Cumulative buffers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34G Systemic risk buffer exposures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34H Notifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34I Publication: systemic risk buffer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34J Publication: third country buffer rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34K Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34L Appeals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 6: Combined buffer requirement ## 35 Combined buffer requirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 7: Macro-prudential measures: procedure ## 36 Amendments to the Bank of England Act 1998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Explanatory note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/uksi/2014/894 (the official version) Page: https://openlegislation.uk/capital-requirements-capital-buffers-and-macro-prudential-measures-regulations-2014-revoked Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.