Regulation 232 Article 10 (level 1 assets)

In Article 10 (level 1 assets), in paragraph 1—

(a)

in point (b)(i), for “the European Central Bank (ECB) or a Member State’s central bank” substitute “the Bank”;

(b)

in point (b)(ii)—

(i)

after “central banks of third countries” insert “or the European Central Bank”;

(ii)

after “or its central government” insert “(if applicable)”;

(c)

in point (b)(iii), omit “the ECB or”;

(d)

in point (c)(i), for “a Member State” substitute “the United Kingdom”;

(e)

in point (c)(iii) and point (e)(i)—

(i)

for “a Member State” in each place it occurs substitute “the United Kingdom”;

(ii)

for “the Member State” in both places it occurs substitute “the United Kingdom”;

(f)

in point (c)(v), for “central government of the Member State” substitute “central government of the United Kingdom”;

(g)

in point (e)(ii)—

(i)

for “the public policy objectives of the Union or of the central or regional government or local authority in a Member State” substitute “the public policy objectives of the central or a regional government of, or a local authority in, the United Kingdom”;

(ii)

for “central government of the Member State” substitute “government of the United Kingdom”;

(h)

in point (f)(i), for “bonds as referred to in Article 52(4) of Directive 2009/65/EC” substitute “CRR covered bonds”.