Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (Text with EEA relevance)
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Changes over time for: Article 30
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Status:
Point in time view as at 07/01/2014.
Changes to legislation:
Commission Delegated Regulation (EU) No 241/2014, Article 30 is up to date with all changes known to be in force on or before 27 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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EUR 2014 No. 241 may be subject to amendment by EU Exit Instruments made by both the Prudential Regulation Authority and the Financial Conduct Authority under powers set out in The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 4. These amendments are not currently available on legislation.gov.uk. Details of relevant amending instruments can be found on their website/s.
Article 30U.K.Content of the application to be submitted by the institution for the purposes of Article 77 of Regulation (EU) No 575/2013
1.The application referred to in Article 29 shall be accompanied by the following information:
(a)a well-founded explanation of the rationale for performing one of the actions referred to in paragraph 1 of Article 29;
(b)information on capital requirements and capital buffers, covering at least a three year period, including the level and composition of own funds before and after the performing of the action and the impact of the action on regulatory requirements;
(c)the impact on the profitability of the institution of a replacement of a capital instrument as specified in point (a) of Article 78(1) of Regulation (EU) No 575/2013;
(d)an evaluation of the risks to which the institution is or might be exposed and whether the level of own funds ensures an appropriate coverage of such risks, including stress tests on main risks evidencing potential losses under different scenarios;
(e)any other information considered necessary by the competent authority for evaluating the appropriateness of granting a permission according to Article 78 of Regulation (EU) No 575/2013.
2.The competent authority shall waive the submission of some of the information listed in paragraph 2 where it is satisfied that this information is already available to it.
3.Paragraphs 1 and 2 shall apply at the individual, consolidated and sub-consolidated levels of application of prudential requirements, where applicable.
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