Paragraph 69 Regulated Covered Bonds Regulations 2008

(1)

The Regulated Covered Bonds Regulations 2008 M1 are amended as follows.

(2)

In regulation 1(2) (interpretation) M2—

(a)

omit the definition of “banking consolidation directive”;

(b)

at the appropriate place insert—

““capital requirements regulation” means Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012;”;

(c)

in the definition of “liquid assets”—

(i)

in paragraph (a), for “paragraph 68(a) or (b) of Annex VI to the banking consolidation directive” substitute “ Article 129(1)(a) or (b) of the capital requirements regulation ”; and

(ii)

in paragraph (b), for “paragraph 68(c) of Annex VI to the banking consolidation directive” substitute “ Article 129(1)(c) of the capital requirements regulation ”.

(3)

In regulation 2 (eligible property) M3—

(a)

in paragraph (1)(a) for “paragraph 68 of Annex VI of the banking consolidation directive” substitute “ Article 129 of the capital requirements regulation ”;

(b)

in paragraph (1A)(a) for “paragraph 68 of Annex VI of the banking consolidation directive” substitute “ Article 129(1) of the capital requirements regulation ”;

(c)

in paragraph (1A)(b) for “sub-paragraph (d) of paragraph 68 of Annex VI of the banking consolidation direction” substitute “ sub-paragraph (d) and (e) of Article 129(1) of the capital requirements regulation ”;

(d)

in paragraph (1A)(c) for “sub-paragraph (e) of paragraph 68 of Annex VI of the banking consolidation directive” substitute “ sub-paragraph (f) of Article 129(1) of the capital requirements regulation ”;

(e)

in paragraph (1B)(a) for “Annex VI of the banking consolidation directive” substitute “ Part Three, Title II, Chapter 2 of the capital requirements regulations ”;

(f)

in paragraph (1B)(b) for “French Fonds Communs de Creances” substitute “ French Fonds Communs de Titrisation ”;

(g)

in paragraph (4) for “banking consolidated directive has the same meaning as in that directive” substitute “ capital requirements regulation has the same meaning as in that regulation ”.

Annotations

Marginal citations

M1: S.I. 2008/346.
M2: Regulation 1(2) was amended by S.I. 2011/2859 and S.I. 2012/917.
M3: Regulation 2 was amended by S.I. 2011/2859 and S.I. 2012/917.

Notes on the whole SI

Textual amendments

F1: 2000 c. 8. Section 349(2) was amended by section 41 of, and paragraphs 19(1) and (2) of Schedule 12 to, the Financial Services Act 2012 (c. 21); paragraphs 14(1)(b), 17(c), 18 and 22 of Schedule 3 were amended by section 12 of, and paragraphs 1, 3, 7, 8 and 14 of Schedule 4 to, the Financial Services Act 2012; paragraph 14(1)(b) was also amended by S.I. 2003/1473 and S.I. 2003/2066.