# 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), Article 3: Level of capital requirements for a CSD

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

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:
(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;
(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;
(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;
(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.
2. A CSD shall have procedures in place to identify all sources of the risks referred to in paragraph 1.

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Source: https://www.legislation.gov.uk/eur/2017/390/article/3 (the official version)
Page: https://openlegislation.uk/eu-regulation-2017-390/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.