PART 3Amendments to Secondary Legislation
Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014I117
1
The Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 201444 are amended as follows.
2
In regulation 2(1) (interpretation)—
a
omit the definition of “appropriate regulator”;
b
in the definition of “capital conservation buffer”—
i
in paragraph (aa), from “is required to calculate” to the end substitute “must calculate in accordance with Chapter 2 of the Capital Buffers Part of the PRA Rulebook”
;
ii
omit paragraph (b);
c
in the definition of “institution-specific countercyclical capital buffer”—
i
in paragraph (aa), from “is required to calculate” to the end substitute “must calculate in accordance with Chapter 3 of the Capital Buffers Part of the PRA Rulebook;”
;
ii
omit paragraph (b).
3
In regulation 2—
a
paragraph (2A), as inserted by regulation 35(3) of the Capital Requirements (Amendment) (EU Exit) Regulations 201845, is renumbered as paragraph (3A);
b
in paragraph (3A), as renumbered pursuant to sub-paragraph (a) above, omit sub-paragraph (b).
4
Omit regulation 6 (exemption for small and medium-sized investment firms).
5
In regulation 12A(1) (buffer rate rules)46, omit “or paragraph 8 of Part 1 of Schedule 1ZA to FSMA” and “or the FCA”.
6
Omit regulation 20 (exemption for small and medium-sized investment firms).
7
In regulation 34 (interpretation)—
a
in paragraph (1)(c)(ii), after “capital requirements regulation” insert “, CRR rules”
;
b
in paragraph (3), at the end insert “and “CRR rules” has the meaning given in section 144A of that Act”
.
8
In regulation 35 (combined buffer requirement), for “appropriate regulator” substitute “PRA”
.