# The Capital Requirements (Amendment) (EU Exit) Regulations 2018, 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.”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111174661/regulation/20 (the official version)
Page: https://openlegislation.uk/draft-capital-requirements-amendment-eu-exit-regulations-2018/regulation-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.