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Status:
Point in time view as at 29/12/2020.
Changes to legislation:
The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014, Section 34H 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.
Changes to Legislation
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[NotificationsU.K.
This section has no associated Explanatory Memorandum
34H.—(1) Where the PRA gives or revokes a recognition decision under regulation 34B, it must notify—
(a)the FCA;
(b)the authorities of the third country which are responsible for supervision of undertakings; and
(c)if different, the authorities of the third country responsible for setting the buffer rate.
(2) When the relevant entity to which one or more systemic risk buffers apply is a subsidiary undertaking of a parent undertaking which is incorporated under the law of a third country, the PRA must notify the competent authority of the third country concerned of any requirements imposed on the relevant entity under regulation 34C.
(3) Where a systemic risk buffer is applied to exposures in a third country, the PRA must notify the competent authority of the third country concerned.]
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