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Changes over time for: Section 17
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/12/2020.
Changes to legislation:
The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014, Section 17 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.
Changes to Legislation
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Date of application of buffer ratesU.K.
This section has no associated Explanatory Memorandum
17.—(1) Where FPC—
(a)recognises or sets a buffer rate under [regulation 15] in relation to exposures located outside the United Kingdom; and
(b)the buffer rate is higher than the buffer rate which UK institutions are currently required to apply in relation to those exposures when calculating their institution-specific countercyclical capital buffers;
then the FPC must decide the date from which UK institutions must apply the buffer rate for the purposes of calculating their institution-specific countercyclical capital buffers.
(2) The date referred to in paragraph (1)—
(a)may only be earlier than 12 months after the date when the buffer rate is published if such a date is justified on the basis of exceptional circumstances; and
(b)may not be later than 12 months after the date when the buffer rate is published where the FPC has set the buffer rate under regulation 15(2) or 15(4).
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