OpenLegislation

Article 456 Regulations modifying this RegulationX1F12

United Kingdom

Original text. Later amendments are not shown.

1.

F1The Treasury may make regulations concerning the following matters:

(a)

clarification of the definitions set out in Articles 4, 5, 142, 153, 192, 242, 272 F2and 381 F3...;

(b)

clarification of the definitions set out in Articles 4, 5, 142, 153, 192, 242, 272 F4and 381 in order to take account, in the application of this Regulation, of developments on financial markets;

(c)

amendment of the list of exposure classes in Articles 112 and 147 in order to take account of developments on financial markets;

(d)

the amount specified in point (c) of Article 123, Article 147(5)(a), Article 153(4) and Article 162(4), to take into account the effects of inflation;

(e)

the list and classification of the off-balance sheet items in Annexes I and II, in order to take account of developments on financial markets;

F5(f)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6(g)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(h)

amendment of the own funds requirements as set out in F7... Articles 50a to 50d of Regulation (EU) No 648/2012 to take account of developments or amendments of the international standards for exposures to a central counterparty;

F8(i)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(j)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2.

F9The Treasury may by regulations amend Articles 381, 382(1) to (3) F10, 383, 384 and 386 concerning—

(a)

the treatment of CVA risk as a stand-alone charge versus an integrated component of the market risk framework;

(b)

the scope of the CVA risk charge including the exemption in Article 482;

(c)

eligible hedges;

(d)

calculation of capital requirements of CVA risk.

F11...

Annotations

Textual amendments

F1

Words in Art. 456(1) substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 221(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2

Words in Art. 456(1)(a) substituted (1.1.2022) by The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 11(2)(a)(i)

F3

Words in Art. 456(1)(a) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 221(2)(c) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4

Words in Art. 456(1)(b) substituted (1.1.2022) by The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 11(2)(a)(ii)

F5

Art. 456(1)(f) omitted (1.1.2022) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 42; S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)

F6

Art. 456(1)(g) omitted (1.1.2022) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 42; S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)

F7

Words in Art. 456(1)(h) omitted (1.1.2022) by virtue of The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 11(2)(a)(iii)

F8

Art. 456(1)(i)(j) omitted (1.1.2022) by S.I. 2021/1078, reg. 11(2)(a)(iv) (as substituted by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(5)(a))

F9

Words in Art. 456(2) substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 221(2)(d)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F10

Words in Art. 456(2) substituted (1.1.2022) by The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 11(2)(b)

F11

Words in Art. 456(2) omitted (31.12.2020) by virtue of The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 221(2)(d)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F12

Art. 456 heading substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 221(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Editorial notes

X1

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).

Notes on the whole EU Regulation

Textual amendments

F1

Regulation revoked (1.1.2024 for the revocation of Art. 92b, 1.1.2026 for the revocation of Arts. 6(1a), 11(3a), 12a, 18(1) (in part), 25-35, 37-47, 47a(1)(2), 47c-79a, 81(1)(a)(i)-(iic)(b)(c)(2), 82(a)(i)-(iic)(b)(c), 83-91, 92a, 466, 468, 469a, 471, 473-474, 476, 479, 480, 482-491, 494-494b, otherwise prosp.) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/779, reg. 5(b)(i); S.I. 2025/873, reg. 4(b) (with regs. 6, 7) (as amended by S.I. 2025/1293, reg. 2)

Notes on Part NINE

Textual amendments

F1

Pt. 9 heading substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 200 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)