Regulation (EU) No 575/2013 of the European Parliament and of the CouncilDangos y teitl llawn

[F1 Article 464B U.K. Power to make technical standards

F2 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. In addition to the powers to make technical standards set out elsewhere in this Regulation, [F3 the PRA may] make technical standards for the following purposes—

(a) to specify—

(i) the information to be provided to the relevant competent authority in the application for authorisation of a credit institution under Part 4A of FSMA;

(ii) the requirements applicable to shareholders and members with qualifying holdings; and

(iii) obstacles which may prevent effective exercise of the supervisory functions of the competent authority;

(b) to define what is meant by ‘exposures to specific risk which are material in absolute terms’ and the thresholds for large numbers of material counterparties and positions in debt instruments of different issuers;

(c) to specify—

(i) the procedure for sharing assessments of the quality of institutions' internal approaches for calculating own funds requirements between competent authorities;

(ii) the standards for the assessment of the quality of institutions' internal approaches for calculating own funds requirements by competent authorities;

(d) to specify—

(i) the template, the definitions and the IT-solutions to be applied in the UK for institutions to report the results of the calculations of their internal approaches for their exposures or positions that are included in their benchmark portfolios;

(ii) the benchmark portfolio or portfolios which institutions must report;

(e) to specify the classes of instruments that can be fully converted to Common Equity Tier 1 instruments or written down, and qualitative and appropriate quantitative criteria to identify categories of staff whose professional activities have a material impact on the institution's risk profile;

(f) to specify the method for the identification of the geographical location of an institution's credit exposures for the purposes of calculating institution-specific countercyclical capital buffer rates.

3. In addition to the powers to make technical standards set out elsewhere in this Regulation, the PRA F4 ... may make technical standards to specify—

(a) the methodology in accordance with which the PRA shall identify a UK parent institution or UK parent financial holding company or UK parent mixed financial holding company as a global systemically important institution (‘G-SII’); and

(b) the methodology for the definition of the sub-categories and the allocation of G-SIIs in sub-categories based on their systemic significance; taking into account any international agreed standards.]

Textual Amendments

F1 Arts. 464A, 464B inserted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 205 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 464B(1) omitted (1.1.2022) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 43(2); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)

F3 Words in Art. 464B(2) substituted (1.1.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 43(3); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)

F4 Word in Art. 464B(3) omitted (1.1.2022) by virtue of Financial Services Act 2021 (c. 22), s. 49(5), Sch. 1 para. 43(4); S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)