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

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111174661/regulation/232 (the official version)
Page: https://openlegislation.uk/draft-capital-requirements-amendment-eu-exit-regulations-2018/regulation-232
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.