Regulation 9 Commission Delegated Regulation (EU) 2016/1450

(1)

Commission Delegated Regulation (EU) 2016/1450 of 23 May 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the criteria relating to the methodology for setting the minimum requirement for own funds and eligible liabilities^f1 is amended as follows.

(2)

In Article 1 (determining the amount necessary to ensure loss absorption)—

(a)

in paragraph 2, for point (c), substitute—

“(c)

the combined buffer defined in the Capital Buffers Part of the PRA rulebook ”.

(b)

after paragraph 6, insert—

“7.

In paragraph 2(c) and Article 2, “PRA rulebook” means the rulebook published by the Prudential Regulation Authority containing rules made by that Authority under the Financial Services and Markets Act 2000, as amended from time to time.”.

(3)

In Article 2 (determination of the amount necessary to continue to comply with conditions for authorisation and to carry out activities and sustain market confidence in the institution), in paragraph 8, for “combined buffer requirement, as defined in regulation 2 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014” substitute “combined buffer defined in the Capital Buffers Part of the PRA rulebook (see Article 1(7))”.

Annotations

Footnotes

f1: EUR 2016/1450.