Explanatory note
(This note is not part of the Regulations)
Section 1 of the Financial Services and Markets Act 2023 (c. 29) revokes subordinate legislation in Part 2 of Schedule 1 to that Act, including the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (S.I. 2014/894) (“the 2014 Capital Buffers Regulations”).
The revocation of the 2014 Capital Buffers Regulations comes into force on 31st July 2025 by virtue of regulation 3 of the Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025 (S.I. 2025/572 (C. 25)). Certain provisions of the 2014 Capital Buffers Regulations are restated by the Capital Buffers and Macro-prudential Measures Regulations 2025 (S.I. 2025/653), which are to come into force on 31st July 2025.
These Regulations make consequential amendments in connection with the revocation and restatement of the 2014 Capital Buffers Regulations.
No impact assessment has been published in respect of these Regulations because no impact, or no significant impact, on the private, voluntary or public sector is foreseen.