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Changes over time for:
PART 2
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No versions valid at: 01/05/2014
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Changes to legislation:
The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014,
PART 2
is up to date with all changes known to be in force on or before 26 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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Valid from 01/01/2016
PART 2 U.K.Capital conservation buffer
Transitional provisions: 1st January 2016 to 31st December 2018U.K.
5.—(1) The appropriate regulator must apply the capital conservation buffer in accordance with the following transitional provisions.
(2) In 2016, the capital conservation buffer must consist of common equity tier 1 capital equal to 0.625% of the total of the risk-weighted exposure amounts of an institution.
(3) In 2017, the capital conservation buffer must consist of common equity tier 1 capital equal to 1.25% of the total of the risk-weighted exposure amounts of an institution.
(4) In 2018, the capital conservation buffer must consist of common equity tier 1 capital equal to 1.875% of the total of the risk-weighted exposure amounts of an institution.
(5) The risk weighted exposure amounts of an institution must be calculated in accordance with Article 92(3) of the capital requirements regulation.
Exemption for small and medium-sized investment firmsU.K.
6.—(1) The FCA may exempt a small or medium-sized investment firm, or small or medium-sized investment firms of a specified description, from the requirement to maintain a capital conservation buffer where the exemption does not threaten the stability of the financial system of the United Kingdom.
(2) Where the FCA decides to grant such an exemption, its decision must—
(a)contain an exact definition of the small or medium-sized investment firms exempted;
(b)be fully reasoned; and
(c)explain why the exemption does not threaten the stability of the financial system of the United Kingdom.
(3) The FCA must notify a decision to grant an exemption to the European Commission, the ESRB, EBA and the competent authorities of the other EEA States which are responsible for the exercise of the duties of a competent authority under the capital requirements directive and capital requirements regulation.
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