# Commission Delegated Regulation (EU) No 342/2014 of 21 January 2014 supplementing Directive 2002/87/EC of the European Parliament and of the Council and Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for the application of the calculation methods of capital adequacy requirements for financial conglomerates (Text with EEA relevance), Article 6: Deficit of own funds at the financial conglomerate level

Extent: E+W+S+N.I.

1. Where there is a deficit of own funds at the financial conglomerate level, only own fund items that are eligible under the sectoral rules for both the banking sector and the insurance sector shall be used to meet that deficit.
2. The own funds referred to in paragraph 1 are the following:
(a) Common Equity Tier 1 capital as defined in Article 50 of Regulation (EU) No 575/2013;
(b) basic own-fund items where those items are classified in Tier 1 in accordance with Article 94(1) of Directive 2009/138/EC and the inclusion of those items is not limited by the delegated acts adopted in accordance with Article 99 of that Directive;
(c) Additional Tier 1 capital as defined in Article 61 of Regulation (EU) No 575/2013;
(d) basic own-fund items where those items are classified in Tier 1 in accordance with Article 94(1) of Directive 2009/138/EC and the inclusion of those items is limited by the delegated acts adopted in accordance with Article 99 of that Directive;
(e) Tier 2 capital as defined in Article 71 of Regulation (EU) No 575/2013; and
(f) basic own-fund items where those items are classified in Tier 2 in accordance with Article 94(2) of Directive 2009/138/EC.
3. Own funds items that are used to meet the deficit shall comply with Article 4(1).

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Source: https://www.legislation.gov.uk/eur/2014/342/article/6 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-342/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.