{
  "url": "https://openlegislation.uk/eu-regulation-2013-575/article-325b",
  "json_url": "https://openlegislation.uk/eu-regulation-2013-575/article-325b.json",
  "legislation": "eur/2013/575",
  "legislation_title": "Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2013-575",
  "path": "article/325b",
  "kind": "article",
  "number": "325b",
  "heading": "Permission for consolidated requirements",
  "text": "1 . Subject to paragraph 2, and only for the purpose of calculating net positions and own funds requirements in accordance with this Title on a consolidated basis, institutions may use positions in one institution or undertaking to offset positions in another institution or undertaking.\n2 . Institutions may apply paragraph 1 only with the permission of the competent authorities which shall be granted if all the following conditions are met:\n( a ) there is a satisfactory allocation of own funds within the group;\n( b ) the regulatory, legal or contractual framework in which the institutions operate guarantees mutual financial support within the group.\n3 . Where there are undertakings located in third countries, all the following conditions shall be met in addition to those set out in paragraph 2:\n( a ) such undertakings have been authorised in a third country and either satisfy the definition of a credit institution or are recognised third-country investment firms;\n( b ) on an individual basis, such undertakings comply with own funds requirements equivalent to those laid down in this Regulation;\n( c ) no regulations exist in the third countries in question which might significantly affect the transfer of funds within the group.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "X",
      "label": "X1",
      "text": "Substituted by Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2013/575/article/325b",
    "retrieved_at": "2026-11-01T14:48:36.198705+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}