Regulation 20 Regulation 34 (supervisory powers: own funds)

In regulation 34 (supervisory powers: own funds)—

(a)

in paragraph (1)(a), after “requirements of” insert “Directive 2013/36/EU UK law which implemented”;

(b)

in paragraphs (2)(a) and (2)(b), after “set out in” insert “Directive 2013/36/EU UK law which implemented”;

(c)

in paragraph (2)(d)—

(i)

for the words from “the review referred” to “capital requirements directive” substitute “either a SREP or an internal model review”;

(ii)

for “application of the respective approach” insert “applicable internal approaches”;

(d)

in paragraph (2)(e), for the words from “the capital requirements directive” to the end, substitute “Directive 2013/36/EU UK law or the capital requirements regulation”;

(e)

in paragraph (3), for the words from “the review and evaluation” to “capital requirements directive” substitute “a SREP”;

(f)

in paragraphs (3)(a) and (3)(b), after “referred to in” insert “Directive 2013/36/EU UK law which implemented”;

(g)

in paragraph (3)(c), for the words from “the review and evaluation” to “capital requirements directive” substitute “the SREP or internal model review”;

(h)

after paragraph 3 insert—

“(4)
In this Part—

“internal model review” means a review carried out under regulation 34B;

“SREP” means the supervisory review and evaluation process detailed in regulation 34A.”.