# The Capital Requirements Regulations 2006 (revoked) S.I. 2006/3221 · made 4 December 2006 · revised to 1 January 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PDFs: Printed copy https://openlegislation.uk/capital-requirements-regulations-2006-revoked/pdf/uksi_20063221_en.pdf; Explanatory Memorandum https://openlegislation.uk/capital-requirements-regulations-2006-revoked/pdf/uksiem_20063221_en.pdf ## Introductory text FINANCIAL SERVICES AND MARKETS Made 4th December 2006 Laid before Parliament 5th December 2006 Coming into force 1st January 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 1: INTRODUCTION ## 1 Citation, commencement and interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 2: APPLICATIONS FOR PERMISSIONS ## 2 Application for permission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Applications to an appropriate regulator as EEA consolidated supervisor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Applications forwarded to an appropriate regulator as a relevant competent authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 Proposals to vary or revoke a decision or joint decision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Recognition and application of a decision or joint decision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Exercise of functions under section 138A of the Act for the purpose of applying a decision or a joint decision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 3: EXERCISE OF SUPERVISION ## 10 Duties of an appropriate regulator as an EEA consolidated supervisor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Duties of an appropriate regulator as EEA consolidated supervisor or national consolidated supervisor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16A Significant branches . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16E General duties of FCA and PRA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16F The Bank of England’s general duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16G The relevant regulator’s duties in relation to employee remuneration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Disclosed information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 4: CREDIT INSTITUTIONS AND EXTERNAL CREDIT ASSESSMENT INSTITUTIONS ## 21 Interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 Recognition for exposure risk-weighting purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 Recognition for securitisation risk-weighting purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 Publishing recognition process and list of ECAIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 Revoking recognition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Part 5: MISCELLANEOUS ## 26 Restriction on disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 Functions of the FCA and PRA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 Service of notices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 29 Consequential amendments to primary and secondary legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 1: Recognition of ECAIs ### Part 1: Methodology ## 1 Objectivity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Independence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Ongoing review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Transparency and disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ### Part 2: Credit assessments ## 8 Credibility and market acceptance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Transparency and Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 2: Mapping ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 3: Consequential amendments to the Act ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 4: Consequential amendments to other primary legislation ## 1 Amendment of the Consumer Credit Act 1974 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Amendment of the Companies Act 1985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Amendment of the Building Societies Act 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Amendment of the Bank of England Act 1998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 Amendment of the Criminal Justice Act 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Amendment of the Terrorism Act 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Amendment of the Proceeds of Crime Act 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 5: Consequential amendments to the Financial Conglomerates and Other Financial Groups Regulations 2004 ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Schedule 6: Consequential amendments to other secondary legislation ## 1 Amendment of the Cash Ratio Deposits (Eligible Liabilities) Order 1998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 Amendment of the Cross-Border Credit Transfers Regulations 1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 Amendment of the Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 Amendment of the Competition Act 1998 (Determination of Turnover for Penalties) Order 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 Amendment of the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 Amendment of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 Amendment of the Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 Amendment of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 Amendment of the Financial Services and Markets Act 2000 (Confidential Information) (Bank of England) (Consequential Provisions) Order 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 Amendment of the Uncertified Securities Regulations 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 Amendment of the Enterprise Act 2002 (Merger Fees and Determination of Turnover) Order 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 Amendment of the Money Laundering Regulations 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 Amendment of the Conduct of Employment Agencies and Employment Businesses Regulations 2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 Amendment of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 Amendment of the Building Societies Act 1986 (Modification of the Lending Limit and Funding Limit Calculations) Order 2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Explanatory note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/uksi/2006/3221 (the official version) Page: https://openlegislation.uk/capital-requirements-regulations-2006-revoked Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.