{
  "url": "https://openlegislation.uk/eu-regulation-2017-390/article-3",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-390/article-3.json",
  "legislation": "eur/2017/390",
  "legislation_title": "Commission Delegated Regulation (EU) 2017/390 of 11 November 2016 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on certain prudential requirements for central securities depositories and designated credit institutions offering banking-type ancillary services (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-390",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Level of capital requirements for a CSD",
  "text": "1. A CSD shall hold capital, together with retained earnings and reserves, which shall be at all times more than or equal to the sum of:\n(a) the CSD's capital requirements for operational, legal and custody risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 4;\n(b) the CSD's capital requirements for investment risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 5;\n(c) the CSD's capital requirements for business risks, referred to in point (a) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 6;\n(d) the CSD's capital requirements for winding-down or restructuring its activities, referred to in point (b) of Article 47(1) of Regulation (EU) No 909/2014, calculated in accordance with Article 7.\n2. A CSD shall have procedures in place to identify all sources of the risks referred to in paragraph 1.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/390/article/3",
    "retrieved_at": "2026-11-01T14:45:08.893870+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."
}