Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance)
Changes to legislation:
Regulation (EU) No 575/2013 of the European Parliament and of the Council is up to date with all changes known to be in force on or before 08 July 2024. There are changes that may be brought into force at a future date.![Help about Changes to Legislation](/images/chrome/helpIcon.gif)
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Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.
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Changes and effects yet to be applied to
:
- Art. 1 words omitted by S.I. 2018/1401 reg. 62(b) (This amendment not applied to legislation.gov.uk. Reg. 62 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(a))
- Art. 1 words substituted by S.I. 2018/1401 reg. 62(a) (This amendment not applied to legislation.gov.uk. Reg. 62 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(a))
- Art. 2 substituted by S.I. 2018/1401 reg. 63 (This amendment not applied to legislation.gov.uk. Reg. 63 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(b))
- Art. 2 substituted by S.I. 2018/1401 reg. 63 (This amendment not applied to legislation.gov.uk. Reg. 63 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(b))
- Art. 6(1) words substituted by S.I. 2024/705 Sch. 2 para. 20
- Art. 6(3) words substituted by S.I. 2021/1078 reg. 4(2)(b) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 6(4) omitted by S.I. 2021/1078 reg. 4(2)(c) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 11(1) words substituted by S.I. 2018/1401 reg. 72(2) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(1) words substituted by S.I. 2021/1078 reg. 4(5)(a) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 11(2) words omitted by S.I. 2018/1401 reg. 72(3)(b) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(2) words substituted by S.I. 2018/1401 reg. 72(3)(a) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(3) words substituted by S.I. 2018/1401 reg. 72(4)(a) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(3) words substituted by S.I. 2018/1401 reg. 72(4)(b) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(3) words substituted by S.I. 2018/1401 reg. 72(4)(c) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(3a) words omitted by S.I. 2019/1232 reg. 14(2)(c) (This amendment not applied to legislation.gov.uk. Reg. 14 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(a))
- Art. 11(3a) words substituted by S.I. 2019/1232 reg. 14(2)(a) (This amendment not applied to legislation.gov.uk. Reg. 14 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(a))
- Art. 11(3a) words substituted by S.I. 2019/1232 reg. 14(2)(b) (This amendment not applied to legislation.gov.uk. Reg. 14 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(a))
- Art. 11(4) omitted by S.I. 2018/1401 reg. 72(5) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(5) words inserted by S.I. 2018/1401 reg. 72(6)(c) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(5) words omitted by S.I. 2018/1401 reg. 72(6)(b) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 11(5) words substituted by S.I. 2018/1401 reg. 72(6)(a) (This amendment not applied to legislation.gov.uk. Reg. 72 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(a))
- Art. 13(1) words substituted by S.I. 2018/1401 reg. 73(a) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 13(1) words substituted by S.I. 2021/1078 reg. 4(6)(a)(i) (This amendment not applied to legislation.gov.uk. Art. 13 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 4(6) (as substituted by S.I. 2021/1376, regs. 1(2), 32(2)(c)))
- Art. 13(1) words substituted by S.I. 2021/1078 reg. 4(6)(a)(ii) (This amendment not applied to legislation.gov.uk. Art. 13 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 4(6) (as substituted by S.I. 2021/1376, regs. 1(2), 32(2)(c)))
- Art. 13(2) omitted by S.I. 2021/1078 reg. 4(6)(b) (This amendment not applied to legislation.gov.uk. Art. 13 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 4(6) (as substituted by S.I. 2021/1376, regs. 1(2), 32(2)(c)))
- Art. 13(2) words substituted by S.I. 2018/1401 reg. 73(b) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 13(2) words substituted by S.I. 2018/1401 reg. 73(c) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 13(3) words substituted by S.I. 2018/1401 reg. 73(a) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 13(3) words substituted by S.I. 2018/1401 reg. 73(b) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 13(4) omitted by S.I. 2018/1401 reg. 73(d) (This amendment not applied to legislation.gov.uk. Reg. 73 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(d))
- Art. 14 heading words substituted by S.I. 2024/705 Sch. 2 para. 21(a)
- Art. 14(1) words substituted by S.I. 2024/705 Sch. 2 para. 21(b)
- Art. 14(2) words substituted by S.I. 2024/705 Sch. 2 para. 21(c)
- Art. 14(3) inserted by S.I. 2024/705 Sch. 2 para. 21(d)
- Art. 14(3) words substituted by S.I. 2018/1401 reg. 74 (This amendment not applied to legislation.gov.uk. Reg. 74 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(e))
- Art. 18(3) words substituted by S.I. 2018/1401 reg. 77(a) (This amendment not applied to legislation.gov.uk. Reg. 77 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(f))
- Art. 18(6) words substituted by S.I. 2018/1401 reg. 77(b) (This amendment not applied to legislation.gov.uk. Reg. 77 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(f))
- Art. 18(7) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. The amending text in reg. 222 Table 1 was omitted (6.9.2019) by The Capital Requirements (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1232), regs. 1(2), 3(3)(k))
- Art. 18(7) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222, Table 1 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(k))
- Art. 18(8) words substituted by S.I. 2018/1401 reg. 77(c) (This amendment not applied to legislation.gov.uk. Reg. 77 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(f))
- Art. 18(9) words omitted by S.I. 2019/1232 reg. 17(2)(b) (This amendment not applied to legislation.gov.uk. Reg. 17 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(b))
- Art. 18(9) words substituted by S.I. 2019/1232 reg. 17(2)(a) (This amendment not applied to legislation.gov.uk. Reg. 17 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(b))
- Art. 26 words omitted by S.I. 2018/1401 reg. 82(b) (This amendment not applied to legislation.gov.uk. Reg. 82 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(g))
- Art. 26 words omitted by S.I. 2018/1401 reg. 82(d) (This amendment not applied to legislation.gov.uk. Reg. 82 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(g))
- Art. 26 words omitted by S.I. 2018/1401 reg. 82(d) (This amendment not applied to legislation.gov.uk. Reg. 82 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(g))
- Art. 26 words substituted by S.I. 2018/1401 reg. 82(a) (This amendment not applied to legislation.gov.uk. Reg. 82 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(g))
- Art. 26 words substituted by S.I. 2018/1401 reg. 82(c) (This amendment not applied to legislation.gov.uk. Reg. 82 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(g))
- Art. 36(2) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 36 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 5(2))
- Art. 36(3) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 36 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 5(2))
- Art. 36(4) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 36 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 5(2))
- Art. 41(2) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 41(2) omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 5(3))
- Art. 99(5) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 1 Ch. 2 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(2)(b))
- Art. 99(6) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 1 Ch. 2 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(2)(b))
- Art. 100 words substituted by 2021 c. 22 Sch. 1 para. 21 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 1 Ch. 2 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(2)(b))
- Art. 101(4) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 1 Ch. 2 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(2)(b))
- Art. 105(14) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 1 Ch. 2 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(2)(b))
- Art. 124(1) words substituted by S.I. 2018/1401 reg. 119(2) (This amendment not applied to legislation.gov.uk. Reg. 119 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(b))
- Art. 124(2) words omitted by S.I. 2018/1401 reg. 119(3)(a) (This amendment not applied to legislation.gov.uk. Reg. 119 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(b))
- Art. 124(2) words substituted by S.I. 2018/1401 reg. 119(3)(b) (This amendment not applied to legislation.gov.uk. Reg. 119 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(b))
- Art. 124(4) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. Amending words in reg. 222 Table 1 omitted (6.9.2019) by The Capital Requirements (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1232), regs. 1(2), 3(3)(k))
- Art. 124(4) words omitted by S.I. 2019/1232 reg. 36(2)(b) (This amendment not applied to legislation.gov.uk. Reg. 36 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(c))
- Art. 124(4) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222, Table 1 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(k))
- Art. 124(4) words substituted by S.I. 2019/1232 reg. 36(2)(a) (This amendment not applied to legislation.gov.uk. Reg. 36 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(c))
- Art. 124(5) omitted by S.I. 2018/1401 reg. 119(4) (This amendment not applied to legislation.gov.uk. Reg. 119 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(b))
- Art. 132a(4) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 132a omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(3)(c))
- Art. 152(5) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 152 omitted (1.1.2022) by virtue of S.I. 2021/1078) regs. 1(1), 6(3)(d))
- Art. 164(5) words omitted by S.I. 2018/1401 reg. 133(a) (This amendment not applied to legislation.gov.uk. Reg. 133 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(c))
- Art. 164(6) word substituted by S.I. 2018/1401 reg. 225(1)(2)reg. 225(3)(e) (This amendment not applied to legisaltion.gov.uk. The words to be substituted are not present in Art. 164(6))
- Art. 164(6) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. Art. 164 substituted by Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (Text with EEA relevance).)
- Art. 164(6) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Words in Art. 164(6) to be substituted are not present following the substitution by Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012 (Text with EEA relevance).)
- Art. 164(7) omitted by S.I. 2018/1401 reg. 133(b) (This amendment not applied to legislation.gov.uk. Reg. 133 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 48(3)(c))
- Art. 164(8) words omitted by S.I. 2019/1232 reg. 38(2)(b) (This amendment not applied to legislation.gov.uk. Reg. 38 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(d))
- Art. 164(8) words substituted by S.I. 2019/1232 reg. 38(2)(a) (This amendment not applied to legislation.gov.uk. Reg. 38 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(d))
- Art. 164(9) omitted by S.I. 2019/1232 reg. 38(3) (This amendment not applied to legislation.gov.uk. Reg. 38 omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 65(2)(d))
- Art. 242(3) words substituted by S.I. 2024/705 Sch. 2 para. 22(a)
- Art. 242(10)(a) substituted by S.I. 2024/705 Sch. 2 para. 22(b)(i)
- Art. 242(11) words substituted by S.I. 2024/705 Sch. 2 para. 22(c)
- Art. 242(12) words substituted by S.I. 2024/705 Sch. 2 para. 22(d)
- Art. 242(13) words substituted by S.I. 2024/705 Sch. 2 para. 22(e)
- Art. 242(14) words substituted by S.I. 2024/705 Sch. 2 para. 22(f)
- Art. 242(15) words substituted by S.I. 2024/705 Sch. 2 para. 22(g)
- Art. 242(16) words substituted by S.I. 2024/705 Sch. 2 para. 22(h)
- Art. 242(17) words substituted by S.I. 2024/705 Sch. 2 para. 22(i)
- Art. 270 words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. The words to be substituted are no longer present following the substitution (1.1.2019) by Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017 amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms.)
- Art. 270 words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. The words to be substituted are no longer present following the substitution (1.1.2019) by Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017 amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms.)
- Art. 270(a) words substituted by S.I. 2024/705 Sch. 2 para. 24(a)
- Art. 270(e)(ii) words substituted by S.I. 2024/705 Sch. 2 para. 24(b)
- art. 270a(1) words substituted by S.I. 2024/705 Sch. 2 para. 25(a)(i)
- art. 270a(1) words substituted by S.I. 2024/705 Sch. 2 para. 25(a)(ii)
- art. 270a(1) words substituted by S.I. 2024/705 Sch. 2 para. 25(a)(iii)
- Art. 277(5) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Arts. 276-282 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(3)(f)(ii)(dd))
- Art. 279a(3) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Arts. 276-282 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(3)(f)(ii)(dd))
- Art. 304(5) words substituted by 2021 c. 22 Sch. 1 para. 35(2) (This amendment not applied to legislation.gov.uk. Arts. 300-311 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(3)(f)(ii)(ee))
- Art. 304(5) words substituted by 2021 c. 22 Sch. 1 para. 35(3) (This amendment not applied to legislation.gov.uk. Arts. 300-311 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(3)(f)(ii)(ee))
- Art. 316(3) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 316 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 6(4))
- Art. 325(9) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 325(5)-(9) omitted (1.1.2022) by virtue of S.I. 2021/1376), regs. 1(3), 25(36))
- Art. 325u(5) words substituted by 2021 c. 22 Sch. 1 para. 36(2) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1a omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(a))
- Art. 325u(5) words substituted by 2021 c. 22 Sch. 1 para. 36(3) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1a omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(a))
- Art. 325w(8) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1a omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(a))
- Art. 325ap(3) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1a omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(a))
- Art. 325az(8) words substituted by 2021 c. 22 Sch. 1 para. 37(2) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325az(9) word substituted by 2021 c. 22 Sch. 1 para. 37(3)(b) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325az(9) words substituted by 2021 c. 22 Sch. 1 para. 37(3)(a) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bd(7) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bd(7) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325be(3) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bf(9) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bg(4) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bk(3) words substituted by 2021 c. 22 Sch. 1 para. 38(2) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bk(3) words substituted by 2021 c. 22 Sch. 1 para. 38(3) (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 325bp(12) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 3 Title 4 Ch. 1b omitted (1.1.2022) by virtue of S.I. 2021/1376, regs. 1(3), 25(38)(b))
- Art. 384(1) words omitted by 2021 c. 22 Sch. 4 para. 11(b) (This amendment not applied to legislation.gov.uk. Amended words substituted (1.1.2022) by S.I. 2021/1376, regs. 1(3), 25(44)(b))
- Art. 384(1) words substituted by 2021 c. 22 Sch. 4 para. 11(a) (This amendment not applied to legislation.gov.uk. Amended words substituted (1.1.2022) by S.I. 2021/1376, regs. 1(3), 25(44)(b))
- Art. 410(2) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222 Table 1 omitted (6.9.2019) by The Capital Requirements (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1232), regs. 1(2), 3(3)(k))
- Art. 410(2) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222, Table 1 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(k))
- Art. 410(3) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222 Table 1 omitted (6.9.2019) by The Capital Requirements (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1232), regs. 1(2), 3(3)(k))
- Art. 410(3) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222, Table 1 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(k))
- Art. 419(5) words substituted by S.I. 2018/1401 reg. 223(1)(a)(2) Table 2 (This amendment not applied to legislation.gov.uk. Entry in reg. 223, Table 2 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(l))
- Art. 430(2) words omitted by S.I. 2018/1401 reg. 222(1)(b) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222 Table 1 omitted (6.9.2019) by The Capital Requirements (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1232), regs. 1(2), 3(3)(k))
- Art. 430(2) words substituted by S.I. 2018/1401 reg. 222(1)(a)(2) Table 1 (This amendment not applied to legislation.gov.uk. Entry in reg. 222, Table 1 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(k))
- Art. 430b(6) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 430b omitted (1.1.2022) by virtue of The Capital Requirements Regulation (Amendment) Regulations 2021 (S.I. 2021/1078), regs. 1(1), 9)
- Art. 431-450 omitted by S.I. 2021/1078 reg. 10 (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 434a words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 437(2) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 440(2) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 441(2) words substituted by 2021 c. 22 Sch. 1 para. 40(2) (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 441(2) words substituted by 2021 c. 22 Sch. 1 para. 40(3) (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 443 words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 451(2) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 458(1) words omitted by S.I. 2021/1078 reg. 11(4)(a)(i) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 458(1) words substituted by S.I. 2021/1078 reg. 11(4)(a)(ii) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 460(1) words substituted by S.I. 2018/1401 reg. 221(5)(a)(i) (This amendment not applied to legislation.gov.uk. Reg. 221(5) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(j))
- Art. 460(1) words substituted by S.I. 2018/1401 reg. 221(5)(a)(ii) (This amendment not applied to legislation.gov.uk. Reg. 221(5) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(j))
- Art. 460(2) words omitted by S.I. 2018/1401 reg. 221(5)(b) (This amendment not applied to legislation.gov.uk. Reg. 221(5) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(j))
- Art. 460(3) inserted by S.I. 2018/1401 reg. 221(5)(c) (This amendment not applied to legislation.gov.uk. Reg. 221(5) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(j))
- Art. 467(2) words substituted by S.I. 2019/710 reg. 27(8) (This amendment not applied to legislation.gov.uk. Art. 467 deleted before IP completion day by Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic (Text with EEA relevance).)
- Art. 492(5) words substituted by 2021 c. 22 Sch. 1 para. 47 (This amendment not applied to legislation.gov.uk. Art. 492 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 12(3))
- Art. 493(1) words omitted by S.I. 2018/1401 reg. 210(2)(b) (This amendment not applied to legisaltion.gov.uk. Words to be substituted not present following the earlier substitution by Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (Text with EEA relevance).)
- Art. 497(1) omitted by S.I. 2018/1401 reg. 211(2) (This amendment not applied to legislation.gov.uk. Reg. 211 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(i))
- Art. 497(2) words substituted by S.I. 2018/1401 reg. 211(3)(a) (This amendment not applied to legislation.gov.uk. Reg. 211 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(i))
- Art. 497(2) words substituted by S.I. 2018/1401 reg. 211(3)(b) (This amendment not applied to legislation.gov.uk. Reg. 211 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(i))
- Art. 497(4) words substituted by S.I. 2018/1401 reg. 211(4) (This amendment not applied to legislation.gov.uk. Reg. 211 omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(i))
- Art. 501a omitted by S.I. 2019/1232 reg. 79 (This amendment not applied to legislation.gov.uk. Reg. 79 amended immediately before IP completion day by S.I. 2020/1385, regs. 1(4), 65(2)(e))
- Art. 501a omitted by S.I. 2019/1232 reg. 79 (This amendment not applied to legislation.gov.uk. Reg. 79 amended immediately before IP completion day by S.I. 2020/1385, regs. 1(4), 65(2)(e))
Newidiadau ac effeithiau heb eu gweithredu eto ar yr eitem ddeddfwriaeth gyfan a’r darpariaethau cysylltiedig.
- Pt. 3 Title 1 Ch. 1 SECTION 2 A 95 repeal by EUR 2019/2033 Regulation (This amendment by the EU not applied to legislation.gov.uk because it is brought into force after IP completion day.)
- Pt. 3 Title 1 Ch. 1 SECTION 2 repeal by EUR 2019/2033 Regulation (This amendment by the EU not applied to legislation.gov.uk because it is brought into force after IP completion day.)
- Pt. 3 Title 1 Ch. 1 SECTION 2 A 98 repeal by EUR 2019/2033 Regulation (This amendment by the EU not applied to legislation.gov.uk because it is brought into force after IP completion day.)
- Pt. 3 Title 1 Ch. 1 SECTION 2 A 96 repeal by EUR 2019/2033 Regulation (This amendment by the EU not applied to legislation.gov.uk because it is brought into force after IP completion day.)
- Pt. 3 Title 1 Ch. 1 SECTION 2 A 97 repeal by EUR 2019/2033 Regulation (This amendment by the EU not applied to legislation.gov.uk because it is brought into force after IP completion day.)
- Art. 4.1(7) words omitted by S.I. 2018/1401 reg. 64(7)(b) (This amendment not applied to legislation.gov.uk. Reg. 64(7) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(i))
- Art. 4.1(7) words substituted by S.I. 2018/1401 reg. 64(7)(a) (This amendment not applied to legislation.gov.uk. Reg. 64(7) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(i))
- Art. 4.1(7) words substituted by S.I. 2018/1401 reg. 64(7)(c) (This amendment not applied to legislation.gov.uk. Reg. 64(7) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(i))
- Art. 4.1(13) words substituted by S.I. 2024/705 Sch. 2 para. 19(a)
- Art. 4.1(14) words substituted by S.I. 2024/705 Sch. 2 para. 19(b)
- Art. 4.1(14a) words substituted by S.I. 2024/705 Sch. 2 para. 19(c)
- Art. 4.1(26) words inserted by S.I. 2018/1401 reg. 64(20)(a) (This amendment not applied to legislation.gov.uk. Reg. 64(20) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(ii))
- Art. 4.1(26) words substituted by S.I. 2018/1401 reg. 64(20)(d) (This amendment not applied to legislation.gov.uk. Reg. 64(20) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(ii))
- Art. 4.1(28) words substituted by S.I. 2018/1401 reg. 64(23)(a) (This amendment not applied to legislation.gov.uk. Reg. 64(23) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(iii))
- Art. 4.1(28) words substituted by S.I. 2018/1401 reg. 64(23)(b) (This amendment not applied to legislation.gov.uk. Reg. 64(23) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(iii))
- Art. 4.1(28) words substituted by S.I. 2018/1401 reg. 64(23)(c) (This amendment not applied to legislation.gov.uk. Reg. 64(23) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(iii))
- Art. 4.1(61) words substituted by S.I. 2024/705 Sch. 2 para. 19(d)
- Art. 4.1(62) words substituted by S.I. 2024/705 Sch. 2 para. 19(e)
- Art. 4.1(63) words substituted by S.I. 2024/705 Sch. 2 para. 19(f)
- Art. 4.1(66) words substituted by S.I. 2024/705 Sch. 2 para. 19(g)
- Art. 4.1(67) words substituted by S.I. 2024/705 Sch. 2 para. 19(h)
- Art. 4.1(128) word substituted by S.I. 2018/1401 reg. 64(51) (This amendment not applied to legislation.gov.uk. Reg. 64(51) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(c)(iv))
- Art. 4.1(129) words substituted by S.I. 2024/705 Sch. 2 para. 19(i)
- Art. 11(6)(a) words substituted by S.I. 2021/1078 reg. 4(5)(c) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 18(8)(a) words substituted by S.I. 2020/1385 reg. 74(3)(c) (This amendment not applied to legisaltion.gov.uk. Art. 18(8) substituted (31.12.2020) by S.I. 2019/264, regs. 1, 5(3).)
- Art. 31(1)(b) words substituted by S.I. 2018/1401 reg. 86(a) (This amendment not applied to legislation.gov.uk. Reg. 86(a) omitted immediately before IP completion day by virtue of S.I. 2020/1470, reg. 1(4), Sch. 2 para. 17)
- Art. 31(1)(b) words substituted in earlier amending provision S.I. 2018/1401, reg. 86(a) by S.I. 2020/1301 reg. 3 Sch. para. 11(g) (This amendment not applied to legislation.gov.uk. Reg. 86(a) omitted immediately before IP completion day by virtue of S.I. 2020/1470, reg. 1(4), Sch. 2 para. 17)
- Art. 31(1)(c) words inserted by S.I. 2018/1401 reg. 86(b) (This amendment not applied to legislation.gov.uk. Reg. 86(b) omitted immediately before IP completion day by virtue of S.I. 2020/1470, reg. 1(4), Sch. 2 para. 17)
- Art. 78(1)(b) words substituted by S.I. 2018/1401 reg. 94(2)(a) (This amendment not applied to legislation.gov.uk. Reg. 94(2) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(h))
- Art. 78(1)(b) words substituted by S.I. 2018/1401 reg. 94(2)(b) (This amendment not applied to legislation.gov.uk. Reg. 94(2) omitted (6.9.2019) by virtue of S.I. 2019/1232, regs. 1(2), 3(3)(h))
- Art. 124(4)(b) word substituted by S.I. 2018/1401 reg. 225(1)(2)reg. 225(3)(b) (This amendment not applied to legislation.gov.uk. The words to be substituted in Art. 124(4) are not present following the substitution of Art 124 by Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).)
- Art. 242(10)(c) and word inserted by S.I. 2024/705 Sch. 2 para. 22(b)(ii)
- Art. 244(4)(c) words substituted by S.I. 2024/705 Sch. 2 para. 23
- art. 270a(1A) inserted by S.I. 2024/705 Sch. 2 para. 25(b)
- Art. 325(3)(a) word omitted by S.I. 2018/1401 reg. 157 (This amendment not applied to elgislation.gov.uk. The words to be omitted are not present in Art. 325(3)(a))
- Art. 450(1)(d) words substituted by 2021 c. 22 Sch. 1 para. 41 (This amendment not applied to legislation.gov.uk. Pt. 8 omitted (1.1.2022) by virtue of S.I. 2021/1078, regs. 1(1), 10 (as substituted by S.I. 2021/1376, regs. 1(2), 32(4)))
- Art. 456(1)(h)(i) omitted by S.I. 2021/1078 reg. 11(2)(a)(iv) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 459(b) omitted by S.I. 2021/1078 reg. 11(5)(a) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
- Art. 459(c) words substituted by S.I. 2021/1078 reg. 11(5)(b) (This amendment not applied to legislation.gov.uk. Amending provision substituted by S.I. 2021/1376)
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Introductory Text
PART ONE GENERAL PROVISIONS
TITLE I SUBJECT MATTER, SCOPE AND DEFINITIONS
Article 1. Scope
Article 2. Supervisory powers
Article 3. Application of stricter requirements by institutions
Article 4.DefinitionsNext Match
Article 4A. Definitions: Regulators' rules
Article 4B.The consolidating supervisor
Article 5. Definitions specific to capital requirements for credit risk
TITLE II LEVEL OF APPLICATION OF REQUIREMENTS
CHAPTER 1 Application of requirements on an individual basis
Article 6.General principles
Article 7. Derogation from the application of prudential requirements on an individual basis
Article 8. Derogation from the application of liquidity requirements on an individual basis
Article 9. Individual consolidation method
Article 10. Waiver for credit institutions permanently affiliated to a central body
Article 10A.Application of prudential requirements on a consolidated basis where FCA investment firms are parent undertakings
CHAPTER 2 Prudential consolidation
Section 1 Application of requirements on a consolidated basis
Article 11.General treatment
Article 12. Financial holding company or mixed financial holding company with both a subsidiary credit institution and a subsidiary investment firm
Article 12a. Consolidated calculation for G-SIIs with multiple resolution entities
Article 13. Application of disclosure requirements on a consolidated basis
Article 14. Application of requirements of Article 5 of Regulation (EU) 2017/2402 on a consolidated basis
Article 15. Derogation from the application of own funds requirements on a consolidated basis for groups of investment firms
Article 16. Derogation from the application of the leverage ratio requirements on a consolidated basis for groups of investment firms
Article 17. Supervision of investment firms waived from the application of own funds requirements on a consolidated basis
Section 2 Methods for prudential consolidation
Article 18.Methods of prudential consolidationPrevious MatchNext Match
Section 3 Scope of prudential consolidation
Article 19. Entities excluded from the scope of prudential consolidation
Article 20. Joint decisions on prudential requirements
Article 21. Joint decisions on the level of application of liquidity requirements
Article 22. Sub-consolidation in cases of entities in third countries
Article 23. Undertakings in third countries
Article 24. Valuation of assets and off-balance sheet items
PART TWO OWN FUNDS AND ELIGIBLE LIABILITIES
TITLE I ELEMENTS OF OWN FUNDS
CHAPTER 1 Tier 1 capital
Article 25. Tier 1 capital
CHAPTER 2 Common Equity Tier 1 capital
Section 1 Common Equity Tier 1 items and instruments
Article 26. Common Equity Tier 1 items
Article 27. Capital instruments of mutuals, cooperative societies, savings institutions or similar institutions in Common Equity Tier 1 items
Article 28. Common Equity Tier 1 instruments
Article 29. Capital instruments issued by mutuals, cooperative societies, savings institutions and similar institutions
Article 30. Consequences of the conditions for Common Equity Tier 1 instruments ceasing to be met
Article 31. Capital instruments subscribed by public authorities in emergency situations
Section 2 Prudential filters
Article 32. Securitised assets
Article 33. Cash flow hedges and changes in the value of own liabilities
Article 34. Additional value adjustments
Article 35. Unrealised gains and losses measured at fair value
Section 3 Deductions from Common Equity Tier 1 items, exemptions and alternatives
Sub-Section 1 Deductions from Common Equity Tier 1 items
Article 36. Deductions from Common Equity Tier 1 items
Article 37. Deduction of intangible assets
Article 38. Deduction of deferred tax assets that rely on future profitability
Article 39. Tax overpayments, tax loss carry backs and deferred tax assets that do not rely on future profitability
Article 40. Deduction of negative amounts resulting from the calculation of expected loss amounts
Article 41. Deduction of defined benefit pension fund assets
Article 42. Deduction of holdings of own Common Equity Tier 1 instruments
Article 43. Significant investment in a financial sector entity
Article 44. Deduction of holdings of Common Equity Tier 1 instruments of financial sector entities and where an institution has a reciprocal cross holding designed artificially to inflate own funds
Article 45. Deduction of holdings of Common Equity Tier 1 instruments of financial sector entities
Article 46. Deduction of holdings of Common Equity Tier 1 instruments where an institution does not have a significant investment in a financial sector entity
Article 47. Deduction of holdings of Common Equity Tier 1 instruments where an institution has a significant investment in a financial sector entity
Article 47a. Non-performing exposures
Article 47b. Forbearance measures
Article 47c. Deduction for non-performing exposures
Sub-Section 2 Exemptions from and alternatives to deduction from Common Equity Tier 1 items
Article 48. Threshold exemptions from deduction from Common Equity Tier 1 items
Article 49.Requirement for deduction where consolidation or supplementary supervision is applied
Section 4 Common Equity Tier 1 capital
Article 50. Common Equity Tier 1 capital
CHAPTER 3 Additional Tier 1 capital
Section 1 Additional Tier 1 items and instruments
Article 51. Additional Tier 1 items
Article 52. Additional Tier 1 instruments
Article 53. Restrictions on the cancellation of distributions on Additional Tier 1 instruments and features that could hinder the recapitalisation of the institution
Article 54. Write down or conversion of Additional Tier 1 instruments
Article 55. Consequences of the conditions for Additional Tier 1 instruments ceasing to be met
Section 2 Deductions from Additional Tier 1 items
Article 56. Deductions from Additional Tier 1 items
Article 57. Deductions of holdings of own Additional Tier 1 instruments
Article 58. Deduction of holdings of Additional Tier 1 instruments of financial sector entities and where an institution has a reciprocal cross holding designed artificially to inflate own funds
Article 59. Deduction of holdings of Additional Tier 1 instruments of financial sector entities
Article 60. Deduction of holdings of Additional Tier 1 instruments where an institution does not have a significant investment in a financial sector entity
Section 3 Additional Tier 1 capital
Article 61. Additional Tier 1 capital
CHAPTER 4 Tier 2 capital
Section 1 Tier 2 items and instruments
Article 62. Tier 2 items
Article 63. Tier 2 instruments
Article 64. Amortisation of Tier 2 instruments
Article 65. Consequences of the conditions for Tier 2 instruments ceasing to be met
Section 2 Deductions from Tier 2 items
Article 66. Deductions from Tier 2 items
Article 67. Deductions of holdings of own Tier 2 instruments
Article 68. Deduction of holdings of Tier 2 instruments of financial sector entities and where an institution has a reciprocal cross holding designed artificially to inflate own funds
Article 69. Deduction of holdings of Tier 2 instruments of financial sector entities
Article 70. Deduction of Tier 2 instruments where an institution does not have a significant investment in a relevant entity
Section 3 Tier 2 capital
Article 71. Tier 2 capital
CHAPTER 5 Own funds
Article 72. Own funds
CHAPTER 5a Eligible liabilities
Section 1 Eligible liabilities items and instruments
Article 72a. Eligible liabilities items
Article 72b. Eligible liabilities instruments
Article 72c. Amortisation of eligible liabilities instruments
Article 72d. Consequences of the eligibility conditions ceasing to be met
Section 2 Deductions from eligible liabilities items
Article 72e. Deductions from eligible liabilities items
Article 72f. Deduction of holdings of own eligible liabilities instruments
Article 72g. Deduction base for eligible liabilities items
Article 72h. Deduction of holdings of eligible liabilities of other G-SII entities
Article 72i. Deduction of eligible liabilities where the institution does not have a significant investment in G-SII entities
Article 72j. Trading book exception from deductions from eligible liabilities items
Section 3 Own funds and eligible liabilities
Article 72k. Eligible liabilities
Article 72l. Own funds and eligible liabilities
CHAPTER 6 General requirements for own funds and eligible liabilities
Article 73. Distributions on instruments
Article 74. Holdings of capital instruments issued by regulated financial sector entities that do not qualify as regulatory capital
Article 75. Deduction and maturity requirements for short positions
Article 76. Index holdings of capital instruments
Article 77. Conditions for reducing own funds and eligible liabilities
Article 78. Supervisory permission to reduce own funds
Article 78a. Permission to reduce eligible liabilities instruments
Article 79. Temporary waiver from deduction from own funds and eligible liabilities
Article 79a. Assessment of compliance with the conditions for own funds and eligible liabilities instruments
Article 80. Continuing review of the quality of own funds and eligible liabilities instruments
TITLE II MINORITY INTEREST AND ADDITIONAL TIER 1 AND TIER 2 INSTRUMENTS ISSUED BY SUBSIDIARIES
Article 81. Minority interests that qualify for inclusion in consolidated Common Equity Tier 1 capital
Article 82. Qualifying Additional Tier 1, Tier 1, Tier 2 capital and qualifying own funds
Article 83. Qualifying Additional Tier 1 and Tier 2 capital issued by a special purpose entity
Article 84. Minority interests included in consolidated Common Equity Tier 1 capital
Article 85. Qualifying Tier 1 instruments included in consolidated Tier 1 capital
Article 86. Qualifying Tier 1 capital included in consolidated Additional Tier 1 capital
Article 87. Qualifying own funds included in consolidated own funds
Article 88. Qualifying own funds instruments included in consolidated Tier 2 capital
TITLE III QUALIFYING HOLDINGS OUTSIDE THE FINANCIAL SECTOR
Article 89. Risk weighting and prohibition of qualifying holdings outside the financial sector
Article 90. Alternative to 1 250 % risk weight
Article 91. Exceptions
PART THREE CAPITAL REQUIREMENTS
TITLE I GENERAL REQUIREMENTS, VALUATION AND REPORTING
CHAPTER 1 Required level of own funds
Section 1 Own funds requirements for institutions
Article 92. Own funds requirements
Article 92a. Requirements for own funds and eligible liabilities for G-SIIs
Article 92b.Requirement for own funds and eligible liabilities for non-UK G-SIIs
Article 93. Initial capital requirement on going concern
Article 94. Derogation for small trading book business
Section 2 Own funds requirements for investment firms with limited authorisation to provide investment services
Article 95. Own funds requirements for investment firms with limited authorisation to provide investment services
Article 96. Own funds requirements for IFPRU 730K firms
Article 97. Own Funds based on Fixed Overheads
Article 98. Own funds for investment firms on a consolidated basis
CHAPTER 2 Calculation and reporting requirements
Article 99.Reporting on own funds requirements and financial information
Article 100.Additional reporting requirements
Article 101.Specific reporting obligations
CHAPTER 3 Trading book
Article 102.Requirements for the trading book
Article 103.Management of the trading book
Article 104.Inclusion in the trading book
Article 104b.Requirements for trading desk
Article 105.Requirements for prudent valuation
Article 106.Internal Hedges
TITLE II CAPITAL REQUIREMENTS FOR CREDIT RISK
CHAPTER 1 General principles
Article 107. Approaches to credit risk
Article 108. Use of credit risk mitigation technique under the Standardised Approach and the IRB Approach
Article 109. Treatment of securitisation positions
Article 110. Treatment of credit risk adjustment
CHAPTER 2 Standardised approach
Section 1 General principles
Article 111. Exposure value
Article 112. Exposure classes
Article 113. Calculation of risk-weighted exposure amounts
Section 2 Risk weights
Article 114. Exposures to central governments or central banks
Article 115. Exposures to regional governments or local authorities
Article 116. Exposures to public sector entities
Article 117. Exposures to multilateral development banks
Article 118. Exposures to international organisations
Article 119. Exposures to institutions
Article 120. Exposures to rated institutions
Article 121. Exposures to unrated institutions
Article 122. Exposures to corporates
Article 123. Retail exposures
Article 124. Exposures secured by mortgages on immovable property
Article 125. Exposures fully and completely secured by mortgages on residential property
Article 126. Exposures fully and completely secured by mortgages on commercial immovable property
Article 127. Exposures in default
Article 128. Items associated with particular high risk
Article 129. Exposures in the form of covered bonds
Article 130. Items representing securitisation positions
Article 131. Exposures to institutions and corporates with a short-term credit assessment
Article 132. Exposures in the form of units or shares in CIUs
Article 132a. Approaches for calculating risk-weighted exposure amounts of CIUs
Article 133. Equity exposures
Article 134. Other items
Section 3 Recognition and mapping of credit risk assessment
Sub-Section 1 Recognition of ECAIs
Article 135. Use of credit assessments by ECAIs
Sub-Section 2 Mapping of ECAI's credit assessments
Article 136. Mapping of ECAI's credit assessments
Sub-Section 3 Use of credit assessments by Export Credit Agencies
Article 137. Use of credit assessments by export credit agencies
Section 4 Use of the ECAI credit assessments for the determination of risk weights
Article 138. General requirements Previous MatchNext Match
Article 139. Issuer and issue credit assessment
Article 140. Long-term and short-term credit assessments
Article 141. Domestic and foreign currency items
CHAPTER 3 Internal Ratings Based Approach
Section 1 Permission by competent authorities to use the IRB approach
Article 142. Definitions
Article 143. Permission to use the IRB Approach
Article 144. Competent authorities' assessment of an application to use an IRB Approach
Article 145. Prior experience of using IRB approaches
Article 146. Measures to be taken where the requirements of this Chapter cease to be met
Article 147. Methodology to assign exposures to exposure classes
Article 148. Conditions for implementing the IRB Approach across different classes of exposure and business units
Article 149. Conditions to revert to the use of less sophisticated approaches
Article 150. Conditions for permanent partial use
Section 2 Calculation of risk-weighted exposure amounts
Sub-Section 1 Treatment by type of exposure class
Article 151. Treatment by exposure class
Article 152. Treatment of exposures in the form of units or shares in CIUs
Sub-Section 2 Calculation of risk-weighted exposure amounts for credit risk
Article 153. Risk-weighted exposure amounts for exposures to corporates, institutions and central governments and central banks
Article 154. Risk-weighted exposure amounts for retail exposures
Article 155. Risk-weighted exposure amounts for equity exposures
Article 156. Risk-weighted exposure amounts for other non credit-obligation assets
Sub-Section 3 Calculation of risk-weighted exposure amounts for dilution risk of purchased receivables
Article 157. Risk-weighted exposure amounts for dilution risk of purchased receivables
Section 3 Expected loss amounts
Article 158. Treatment by exposure type
Article 159. Treatment of expected loss amounts
Section 4 PD, LGD and maturity
Sub-Section 1 Exposures to corporates, institutions and central governments and central banks
Article 160. Probability of default (PD)
Article 161. Loss Given Default (LGD)
Article 162. Maturity
Sub-Section 2 Retail exposures
Article 163. Probability of default (PD)
Article 164. Loss Given Default (LGD)
Sub-Section 3 Equity exposures subject to PD/LGD method
Article 165. Equity exposures subject to the PD/LGD method
Section 5 Exposure value
Article 166. Exposures to corporates, institutions, central governments and central banks and retail exposures
Article 167. Equity exposures
Article 168. Other non credit-obligation assets
Section 6 Requirements for the IRB approach
Sub-Section 1 Rating systems
Article 169. General principles
Article 170. Structure of rating systems
Article 171. Assignment to grades or pools
Article 172. Assignment of exposures
Article 173. Integrity of assignment process
Article 174. Use of models
Article 175. Documentation of rating systems
Article 176. Data maintenance
Article 177. Stress tests used in assessment of capital adequacy
Sub-Section 2 Risk quantification
Article 178. Default of an obligor
Article 179. Overall requirements for estimation
Article 180. Requirements specific to PD estimation
Article 181. Requirements specific to own-LGD estimates
Article 182. Requirements specific to own-conversion factor estimates
Article 183. Requirements for assessing the effect of guarantees and credit derivatives for exposures to corporates, institutions and central governments and central banks where own estimates of LGD are used and for retail exposures
Article 184. Requirements for purchased receivables
Sub-Section 3 Validation of internal estimates
Article 185. Validation of internal estimates
Sub-Section 4 Requirements for equity exposures under the internal models approach
Article 186. Own funds requirement and risk quantification
Article 187. Risk management process and controls
Article 188. Validation and documentation
Sub-Section 5 Internal governance and oversight
Article 189. Corporate Governance
Article 190. Credit risk control
Article 191. Internal Audit
CHAPTER 4 Credit risk mitigation
Section 1 Definitions and general requirements
Article 192. Definitions
Article 193. Principles for recognising the effect of credit risk mitigation techniques
Article 194. Principles governing the eligibility of credit risk mitigation techniques
Section 2 Eligible forms of credit risk mitigation
Sub-Section 1 Funded credit protection
Article 195. On-balance sheet netting
Article 196. Master netting agreements covering repurchase transactions or securities or commodities lending or borrowing transactions or other capital market-driven transactions
Article 197. Eligibility of collateral under all approaches and methods
Article 198. Additional eligibility of collateral under the Financial Collateral Comprehensive Method
Article 199. Additional eligibility for collateral under the IRB Approach
Article 200. Other funded credit protection
Sub-Section 2 Unfunded credit protection
Article 201. Eligibility of protection providers under all approaches
Article 202. Eligibility of protection providers under the IRB Approach which qualify for the treatment set out in Article 153(3)
Article 203. Eligibility of guarantees as unfunded credit protection
Sub-Section 3 Types of derivatives
Article 204. Eligible types of credit derivatives
Section 3 Requirements
Sub-Section 1 Funded credit protection
Article 205. Requirements for on-balance sheet netting agreements other than master netting agreements referred to in Article 206
Article 206. Requirements for master netting agreements covering repurchase transactions or securities or commodities lending or borrowing transactions or other capital market driven transactions
Article 207. Requirements for financial collateral
Article 208. Requirements for immovable property collateral
Article 209. Requirements for receivables
Article 210. Requirements for other physical collateral
Article 211. Requirements for treating lease exposures as collateralised
Article 212. Requirements for other funded credit protection
Sub-Section 2 Unfunded credit protection and credit linked notes
Article 213. Requirements common to guarantees and credit derivatives
Article 214. Sovereign and other public sector counter-guarantees
Article 215. Additional requirements for guarantees
Article 216. Additional requirements for credit derivatives
Article 217. Requirements to qualify for the treatment set out in Article 153(3)
Section 4 Calculating the effects of credit risk mitigation
Sub-Section 1 Funded credit protection
Article 218. Credit linked notes
Article 219. On-balance sheet netting
Article 220. Using the Supervisory Volatility Adjustments Approach or the Own Estimates Volatility Adjustments Approach for master netting agreements
Article 221. Using the internal models approach for master netting agreements
Article 222. Financial Collateral Simple Method
Article 223. Financial Collateral Comprehensive Method
Article 224. Supervisory volatility adjustment under the Financial Collateral Comprehensive Method
Article 225. Own estimates of volatility adjustments under the Financial Collateral Comprehensive Method
Article 226. Scaling up of volatility adjustment under the Financial Collateral Comprehensive Method
Article 227. Conditions for applying a 0 % volatility adjustment under the Financial Collateral Comprehensive Method
Article 228. Calculating risk-weighted exposure amounts and expected loss amounts under the Financial Collateral Comprehensive method
Article 229. Valuation principles for other eligible collateral under the IRB Approach
Article 230. Calculating risk-weighted exposure amounts and expected loss amounts for other eligible collateral under the IRB Approach
Article 231. Calculating risk-weighted exposure amounts and expected loss amounts in the case of mixed pools of collateral
Article 232. Other funded credit protection
Sub-Section 2 Unfunded credit protection
Article 233. Valuation
Article 234. Calculating risk-weighted exposure amounts and expected loss amounts in the event of partial protection and tranching
Article 235. Calculating risk-weighted exposure amounts under the Standardised Approach
Article 236. Calculating risk-weighted exposure amounts and expected loss amounts under the IRB Approach
Section 5 Maturity mismatches
Article 237. Maturity mismatch
Article 238. Maturity of credit protection
Article 239. Valuation of protection
Section 6 Basket CRM techniques
Article 240. First-to-default credit derivatives
Article 241. Nth-to-default credit derivatives
CHAPTER 5 Securitisation
Section 1 Definitions and criteria for simple, transparent and standardised securitisations
Article 242.Definitions
Article 243. Criteria for STS securitisations qualifying for differentiated capital treatment
Section 2 Recognition of significant risk transfer
Article 244. Traditional securitisation Previous MatchNext Match
Article 245. Synthetic securitisation
Article 246. Operational requirements for early amortisation provisions
Section 3 Calculation of risk-weighted exposure amounts
Subsection 1 General Provisions
Article 247. Calculation of risk-weighted exposure amounts
Article 248. Exposure value
Article 249. Recognition of credit risk mitigation for securitisation positions
Article 250. Implicit support
Article 251. Originator institutions’ calculation of risk-weighted exposure amounts securitised in a synthetic securitisation
Article 252. Treatment of maturity mismatches in synthetic securitisations
Article 253. Reduction in risk-weighted exposure amounts
Subsection 2 Hierarchy of methods and common parameters
Article 254. Hierarchy of methods
Article 255. Determination of K IRB and K SA
Article 256. Determination of attachment point (A) and detachment point (D)
Article 257. Determination of tranche maturity (M T )
Subsection 3 Methods to calculate risk-weighted exposure amounts
Article 258. Conditions for the use of the Internal Ratings Based Approach (SEC-IRBA)
Article 259. Calculation of risk-weighted exposure amounts under the SEC-IRBA
Article 260. Treatment of STS securitisations under the SEC-IRBA
Article 261. Calculation of risk-weighted exposure amounts under the Standardised Approach (SEC-SA)
Article 262. Treatment of STS securitisations under the SEC-SA
Article 263. Calculation of risk-weighted exposure amounts under the External Ratings Based Approach (SEC-ERBA)
Article 264. Treatment of STS securitisations under the SEC-ERBA
Article 265. Scope and operational requirements for the Internal Assessment Approach
Article 266. Calculation of risk-weighted exposure amounts under the Internal Assessment Approach
Subsection 4 Caps for securitisation positions
Article 267. Maximum risk weight for senior securitisation positions: look-through approach
Article 268. Maximum capital requirements
Subsection 5 Miscellaneous provisions
Article 269. Re-securitisations
Article 269a.NPE securitisations
Article 270. Senior positions in SME securitisations
Article 270a. Additional risk weight
Section 4 External credit assessments
Article 270b. Use of credit assessments by ECAIs
Article 270c. Requirements to be met by the credit assessments of ECAIs
Article 270d. Use of credit assessments
Article 270e. Securitisation mapping
CHAPTER 6 Counterparty credit risk
Section 1 Definitions
Article 271. Determination of the exposure value
Article 272. Definitions
Section 2 Methods for calculating the exposure value
Article 273. Methods for calculating the exposure value
Section 3 Mark-to-Market Method
Article 274. Mark-to-Market Method
Section 4 Original Exposure Method
Article 275. Original Exposure Method
Section 5 Standardised Method
Article 276. Standardised Method
Article 277.Transactions with a linear risk profile
Article 278. Transactions with a non-linear risk profile
Article 279. Treatment of collateral
Article 279a. Supervisory delta
Article 280. Calculation of risk positions
Article 281. Interest rate risk positions
Article 282. Hedging sets
Section 6 Internal Model Method
Article 283.Permission to use the Internal Model Method
Article 284. Exposure value
Article 285. Exposure value for netting sets subject to a margin agreement
Article 286. Management of CCR — Policies, processes and systems
Article 287. Organisation structures for CCR management
Article 288. Review of CCR management system
Article 289. Use test
Article 290.Stress testing
Article 291.Wrong-Way Risk
Article 292. Integrity of the modelling process
Article 293. Requirements for the risk management system
Article 294. Validation requirements
Section 7 Contractual netting
Article 295. Recognition of contractual netting as risk-reducing
Article 296. Recognition of contractual netting agreements
Article 297. Obligations of institutions
Article 298. Effects of recognition of netting as risk-reducing
Section 8 Items in the trading book
Article 299.Items in the trading book
Section 9 Own funds requirements for exposures to a central counterparty
Article 300. Definitions
Article 301. Material scope
Article 302. Monitoring of exposures to CCPs
Article 303. Treatment of clearing members' exposures to CCPs
Article 304.Treatment of clearing members' exposures to clients
Article 305. Treatment of clients' exposures
Article 306. Own funds requirements for trade exposures
Article 307. Own funds requirements for pre-funded contributions to the default fund of a CCP
Article 308. Own funds requirements for pre-funded contributions to the default fund of a QCCP
Article 309. Own funds requirements for pre-funded contributions to the default fund of a non-qualifying CCP and for unfunded contributions to a non-qualifying CCP
Article 310. Alternative calculation of own funds requirement for exposures to a QCCP
Article 311. Own funds requirements for exposures to CCPs that cease to meet certain conditions
TITLE III OWN FUNDS REQUIREMENTS FOR OPERATIONAL RISK
CHAPTER 1 General principles governing the use of the different approaches
Article 312. Permission and notification
Article 313. Reverting to the use of less sophisticated approaches
Article 314. Combined use of different approaches
CHAPTER 2 Basic Indicator Approach
Article 315. Own funds requirement
Article 316. Relevant indicator
CHAPTER 3 Standardised Approach
Article 317. Own funds requirement Previous Match
Article 318. Principles for business line mapping
Article 319. Alternative Standardised Approach
Article 320. Criteria for the Standardised Approach
CHAPTER 4 Advanced measurement approaches
Article 321. Qualitative standards
Article 322. Quantitative Standards
Article 323. Impact of insurance and other risk transfer mechanisms
Article 324. Loss event type classification
TITLE IV OWN FUNDS REQUIREMENTS FOR MARKET RISK
CHAPTER 1 General provisions
Article 325. Approaches for calculating the own funds requirements for market risk
Article 325a. Exemptions from specific reporting requirements for market risk
Article 325b. Permission for consolidated requirements
CHAPTER 1a Alternative standardised approach
Section 1 General provisions
Article 325c.Scope and structure of the alternative standardised approach
Section 2 Sensitivities-based method for calculating the own funds requirement
Article 325d.Definitions
Article 325e.Components of the sensitivities-based method
Article 325f.Own funds requirements for delta and vega risks
Article 325g.Own funds requirements for curvature risk
Article 325h.Aggregation of risk-class specific own funds requirements for delta, vega and curvature risks
Article 325i.Treatment of index instruments and multi-underlying options
Article 325j.Treatment of collective investment undertakings
Article 325k.Underwriting positions
Section 3 Risk factor and sensitivity definitions
Subsection 1 Risk factor definitions
Article 325l.General interest rate risk factors
Article 325m.Credit spread risk factors for non-securitisation
Article 325n.Credit spread risk factors for securitisation
Article 325o.Equity risk factors
Article 325p.Commodity risk factors
Article 325q.Foreign exchange risk factors
Subsection 2 Sensitivity definitions
Article 325r.Delta risk sensitivities
Article 325s.Vega risk sensitivities
Article 325t.Requirements on sensitivity computations
Section 4 The residual risk add-on
Article 325u.Own funds requirements for residual risks
Section 5 Own funds requirements for the default risk
Article 325v.Definitions and general provisions
Subsection 1 Own funds requirements for the default risk for non-securitisations
Article 325w.Gross jump-to-default amounts
Article 325x.Net jump-to-default amounts
Article 325y.Calculation of the own funds requirements for the default risk
Subsection 2 Own funds requirements for the default risk for securitisations not included in the ACTP
Article 325z.Jump-to-default amounts
Article 325aa.Calculation of the own funds requirement for the default risk for securitisations
Subsection 3 Own funds requirements for the default risk for securitisations included in the ACTP
Article 325ab.Scope
Article 325ac.Jump-to-default amounts for the ACTP
Article 325ad.Calculation of the own funds requirements for the default risk for the ACTP
Section 6 Risk weights and correlations
Subsection 1 Delta risk weights and correlations
Article 325ae.Risk weights for general interest rate risk
Article 325af.Intra bucket correlations for general interest rate risk
Article 325ag.Correlations across buckets for general interest rate risk
Article 325ah.Risk weights for credit spread risk for non-securitisations
Article 325ai.Intra-bucket correlations for credit spread risk for non-securitisations
Article 325aj.Correlations across buckets for credit spread risk for non-securitisations
Article 325ak.Risk weights for credit spread risk for securitisations included in the ACTP
Article 325al.Correlations for credit spread risk for securitisations included in the ACTP
Article 325am.Risk weights for credit spread risk for securitisations not included in the ACTP
Article 325an.Intra-bucket correlations for credit spread risk for securitisations not included in the ACTP
Article 325ao.Correlations across buckets for credit spread risk for securitisations not included in the ACTP
Article 325ap.Risk weights for equity risk
Article 325aq.Intra-bucket correlations for equity risk
Article 325ar.Correlations across buckets for equity risk
Article 325as.Risk weights for commodity risk
Article 325at.Intra-bucket correlations for commodity risk
Article 325au.Correlations across buckets for commodity risk
Article 325av.Risk weights for foreign exchange risk
Article 325aw.Correlations for foreign exchange risk
Subsection 2 Vega and curvature risk weights and correlations
Article 325ax.Vega and curvature risk weights
Article 325ay.Vega and curvature risk correlations
CHAPTER 1b Alternative internal model approach
Section 1 Permission and own funds requirements
Article 325az.Alternative internal model approach and permission to use alternative internal models
Article 325ba.Own funds requirements when using alternative internal models
Section 2 General requirements
Article 325bb.Expected shortfall risk measure
Article 325bc.Partial expected shortfall calculations
Article 325bd.Liquidity horizons
Article 325be.Assessment of the modellability of risk factors
Article 325bf.Regulatory back-testing requirements and multiplication factors
Article 325bg.Profit and loss attribution requirement
Article 325bh.Requirements on risk measurement
Article 325bi.Qualitative requirements
Article 325bj.Internal validation
Article 325bk.Calculation of stress scenario risk measure
Section 3 Internal default risk model
Article 325bl.Scope of the internal default risk model
Article 325bm.Permission to use an internal default risk model
Article 325bn.Own funds requirements for default risk using an internal default risk model
Article 325bo.Recognition of hedges in an internal default risk model
Article 325bp.Particular requirements for an internal default risk model
CHAPTER 2 Own funds requirements for position risk
Section 1 General provisions and specific instruments
Article 326. Own funds requirements for position risk
Article 327. Netting
Article 328. Interest rate futures and forwards
Article 329. Options and warrants
Article 330. Swaps
Article 331. Interest rate risk on derivative instruments
Article 332. Credit Derivatives
Article 333. Securities sold under a repurchase agreement or lent
Section 2 Debt instruments
Article 334. Net positions in debt instruments
Sub-Section 1 Specific risk
Article 335. Cap on the own funds requirement for a net position
Article 336. Own funds requirement for non-securitisation debt instruments
Article 337. Own funds requirement for securitisation instruments
Article 338. Own funds requirement for the correlation trading portfolio
Sub-Section 2 General risk
Article 339. Maturity-based calculation of general risk
Article 340. Duration-based calculation of general risk
Section 3 Equities
Article 341. Net positions in equity instruments
Article 342. Specific risk of equity instruments
Article 343. General risk of equity instruments
Article 344. Stock indices
Section 4 Underwriting
Article 345. Reduction of net positions
Section 5 Specific risk own funds requirements for positions hedged by credit derivatives
Article 346. Allowance for hedges by credit derivatives
Article 347. Allowance for hedges by first and nth-to default credit derivatives
Section 6 Own funds requirements for CIUs
Article 348. Own funds requirements for CIUs
Article 349. General criteria for CIUs
Article 350. Specific methods for CIUs
CHAPTER 3 Own funds requirements for foreign-exchange risk
Article 351. De minimis and weighting for foreign exchange risk
Article 352. Calculation of the overall net foreign exchange position
Article 353. Foreign exchange risk of CIUs
Article 354. Closely correlated currencies
CHAPTER 4 Own funds requirements for commodities risk
Article 355. Choice of method for commodities risk
Article 356. Ancillary commodities business
Article 357. Positions in commodities
Article 358. Particular instruments
Article 359. Maturity ladder approach
Article 360. Simplified approach
Article 361. Extended maturity ladder approach
CHAPTER 5 Use of internal models to calculate own funds requirements
Section 1 Permission and own funds requirements
Article 362. Specific and general risks
Article 363. Permission to use internal models
Article 364. Own funds requirements when using internal models
Section 2 General requirements
Article 365. VaR and stressed VaR Calculation
Article 366. Regulatory back testing and multiplication factors
Article 367. Requirements on risk measurement
Article 368. Qualitative requirements
Article 369. Internal Validation
Section 3 Requirements particular to specific risk modelling
Article 370. Requirements for modelling specific risk
Article 371. Exclusions from specific risk models
Section 4 Internal model for incremental default and migration risk
Article 372. Requirement to have an internal IRC model
Article 373. Scope of the internal IRC model
Article 374. Parameters of the internal IRC model
Article 375. Recognition of hedges in the internal IRC model
Article 376. Particular requirements for the internal IRC model
Section 5 Internal model for correlation trading
Article 377. Requirements for an internal model for correlation trading
TITLE V OWN FUNDS REQUIREMENTS FOR SETTLEMENT RISK
Article 378. Settlement/delivery risk
Article 379. Free deliveries
Article 380. Waiver
TITLE VI OWN FUNDS REQUIREMENTS FOR CREDIT VALUATION ADJUSTMENT RISK
Article 381. Meaning of credit valuation adjustment
Article 382. Scope
Article 383. Advanced method
Article 384.Standardised method
Article 385. Alternative to using CVA methods to calculating own funds requirements
Article 386. Eligible hedges
PART FOUR LARGE EXPOSURES
Article 387. Subject matter
Article 388. Negative Scope
Article 389. Definition
Article 390. Calculation of the exposure value
Article 391. Definition of an institution for large exposures purposes
Article 392. Definition of a large exposure
Article 393. Capacity to identify and manage large exposures
Article 394. Reporting requirements
Article 395. Limits to large exposures
Article 396. Compliance with large exposures requirements
Article 397. Calculating additional own funds requirements for large exposures in the trading book
Article 398. Procedures to prevent institutions from avoiding the additional own funds requirement
Article 399. Eligible credit mitigation techniques
Article 400. Exemptions
Article 401. Calculating the effect of the use of credit risk mitigation techniques
Article 402. Exposures arising from mortgage lending
Article 403. Substitution approach
PART FIVE EXPOSURES TO TRANSFERRED CREDIT RISK
TITLE I GENERAL PROVISIONS FOR THIS PART
Article 404. Scope of application
TITLE II REQUIREMENTS FOR INVESTOR INSTITUTIONS
Article 405. Retained interest of the issuer
Article 406. Due diligence
Article 407. Additional risk weight
TITLE III REQUIREMENTS FOR SPONSOR AND ORIGINATOR INSTITUTIONS
Article 408. Criteria for credit granting
Article 409. Disclosure to investors
Article 410. Uniform condition of application
PART SIX LIQUIDITY
TITLE I DEFINITIONS AND LIQUIDITY COVERAGE REQUIREMENT
Article 411. Definitions
Article 412. Liquidity coverage requirement
Article 413. Stable Funding
Article 414. Compliance with liquidity requirements
TITLE II LIQUIDITY REPORTING
Article 415. Reporting obligation and reporting format
Article 416. Reporting on liquid assets
Article 417. Operational requirements for holdings of liquid assets
Article 418. Valuation of liquid assets
Article 419. Currencies with constraints on the availability of liquid assets
Article 420. Liquidity outflows
Article 421. Outflows on retail deposits
Article 422. Outflows on other liabilities
Article 423. Additional outflows
Article 424. Outflows from credit and liquidity facilities
Article 425. Inflows
Article 426. Updating Future liquidity requirements
TITLE III REPORTING ON STABLE FUNDING
Article 427. Items providing stable funding
Article 428. Items requiring stable funding
PART SEVEN LEVERAGE
Article 429. Calculation of the leverage ratio
Article 429a. Exposure value of derivatives
Article 429b. Counterparty credit risk add-on for repurchase transactions, securities or commodities lending or borrowing transactions, long settlement transactions and margin lending transactions
PART SEVEN A REPORTING REQUIREMENTS
Article 430. Reporting on prudential requirements and financial information
Article 430b. Specific reporting requirements for market risk
Article 430c. Feasibility report on the integrated reporting system
PART EIGHT DISCLOSURE BY INSTITUTIONS
TITLE I GENERAL PRINCIPLES
Article 431.Scope of disclosure requirements
Article 432.Non-material, proprietary or confidential information
Article 433.Frequency of disclosure
Article 434.Means of disclosures
Article 434a.Uniform disclosure formats
TITLE II TECHNICAL CRITERIA ON TRANSPARENCY AND DISCLOSURE
Article 435.Risk management objectives and policies
Article 436.Scope of application
Article 437.Own funds
Article 438.Capital requirements
Article 439.Exposure to counterparty credit risk
Article 440.Capital buffers
Article 441.Indicators of global systemic importance
Article 442.Credit risk adjustments
Article 443.Unencumbered assets
Article 444.Use of ECAIs
Article 445.Exposure to market risk
Article 446.Operational risk
Article 447.Exposures in equities not included in the trading book
Article 448.Exposure to interest rate risk on positions not included in the trading book
Article 449.Exposure to securitisation positions
Article 450.Remuneration policy
Article 451.Leverage
TITLE III QUALIFYING REQUIREMENTS FOR THE USE OF PARTICULAR INSTRUMENTS OR METHODOLOGIES
Article 452.Use of the IRB Approach to credit risk
Article 453.Use of credit risk mitigation techniques
Article 454.Use of the Advanced Measurement Approaches to operational risk
Article 455.Use of Internal Market Risk Models
PART NINE Regulations, enhanced prudential measures and technical standards
Article 456. Regulations modifying this Regulation
Article 457. Technical adjustments and corrections
Article 458.Enhanced prudential measures directions & recommendations: Interpretation
Article 458A.Enhanced prudential measures
Article 458B.Enhanced prudential measures: effect of revocation
Article 458C.Enhanced prudential measures: publication and application
Article 459. Prudential requirements
Article 460. Liquidity
Article 461. Review of the phasing-in of the liquidity coverage requirement
Article 461a. Alternative standardised approach for market risk
Article 462. Exercise of the delegation
Article 463. Objections to regulatory technical standards
Article 464. European Banking Committee
Article 464A.Regulations: general provisions
Article 464B.Power to make technical standards
PART TEN TRANSITIONAL PROVISIONS, REPORTS, REVIEWS AND AMENDMENTS
TITLE I TRANSITIONAL PROVISIONS
CHAPTER 1 Own funds requirements, unrealised gains and losses measured at fair value and deductions
Section 1 Own funds requirements
Article 465. Own funds requirements
Article 466. First time application of International Financial Reporting Standards
Section 2 Unrealised gains and losses measured at fair value
Article 467. Unrealised losses measured at fair value
Article 468. Temporary treatment of unrealised gains and losses measured at fair value through other comprehensive income in view of the COVID-19 pandemic
Section 3 Deductions
Sub-Section 1 Deductions from Common Equity Tier 1 items
Article 469. Deductions from Common Equity Tier 1 items
Article 469a. Derogation from deductions from Common Equity Tier 1 items for non-performing exposures
Article 470. Exemption from deduction from Common Equity Tier 1 items
Article 471. Exemption from Deduction of Equity Holdings in Insurance Companies from Common Equity Tier 1 Items
Article 472. Items not deducted from Common Equity Tier 1
Article 473. Introduction of amendments to IAS 19
Article 473a. Introduction of IFRS 9
Sub-Section 2 Deductions from Additional Tier 1 items
Article 474. Deductions from Additional Tier 1 items
Article 475. Items not deducted from Additional Tier 1 items
Sub-Section 3 Deductions from Tier 2 items
Article 476. Deductions from Tier 2 items
Article 477. Deductions from Tier 2 items
Sub-Section 4 Applicable percentages for deduction
Article 478. Applicable percentages for deduction from Common Equity Tier 1, Additional Tier 1 and Tier 2 items
Section 4 minority interest and additional Tier 1 and Tier 2 instruments issued by subsidiaries
Article 479. Recognition in consolidated Common Equity Tier 1 capital of instruments and items that do not qualify as minority interests
Article 480. Recognition in consolidated own funds of minority interests and qualifying Additional Tier 1 and Tier 2 capital
Section 5 Additional filters and deductions
Article 481. Additional filters and deductions
Article 482. Scope of application for derivatives transactions with pension funds
CHAPTER 2 Grandfathering of capital instruments
Section 1 Instruments constituting State aid
Article 483. Grandfathering of State aid instruments
Section 2 Instruments not constituting State aid
Sub-Section 1 Grandfathering eligibility and limits
Article 484. Eligibility for grandfathering of items that qualified as own funds under national transposition measures for Directive 2006/48/EC
Article 485. Eligibility for inclusion in the Common Equity Tier 1 of share premium accounts related to items that qualified as own funds under national transposition measures for Directive 2006/48/EC
Article 486. Limits for grandfathering of items within Common Equity Tier 1, Additional Tier 1 and Tier 2 items
Article 487. Items excluded from grandfathering in Common Equity Tier 1 or Additional Tier 1 items in other elements of own funds
Article 488. Amortisation of items grandfathered as Tier 2 items
Sub-Section 2 Inclusion of instruments with a call and incentive to redeem in additional Tier 1 and Tier 2 items
Article 489. Hybrid instruments with a call and incentive to redeem
Article 490. Tier 2 items with an incentive to redeem
Article 491. Effective maturity
CHAPTER 3 Transitional provisions for disclosure of own funds
Article 492. Disclosure of own funds
CHAPTER 4 Large exposures, own funds requirements, leverage and the Basel I Floor
Article 493. Transitional provisions for large exposures
Article 494. Transitional provisions concerning the requirement for own funds and eligible liabilities
Article 494a. Grandfathering of issuances through special purpose entities
Article 494b. Grandfathering of own funds instruments and eligible liabilities instruments
Article 495. Treatment of equity exposures under the IRB Approach
Article 496. Own funds requirements for covered bonds
Article 497.Own funds requirements for exposures to CCPs
Article 498. Exemption for Commodities dealers
Article 499. Leverage
Article 500. Adjustment for massive disposals
Article 500a. Temporary treatment of public debt issued in the currency of another Member State
Article 500b. Temporary exclusion of certain exposures to central banks from the total exposure measure in view of the COVID-19 pandemic
Article 500c. Exclusion of overshootings from the calculation of the back-testing addend in view of the COVID-19 pandemic
Article 500d. ... Calculation of the exposure value of regular-way purchases and sales awaiting settlement in view of the COVID-19 pandemic
Article 501. Adjustment of risk-weighted non-defaulted SME exposures
Article 501a.Adjustment to own funds requirements for credit risk for exposures to entities that operate or finance physical structures or facilities, systems and networks that provide or support essential public services
Article 501b. Derogation from reporting requirements
TITLE II REPORTS AND REVIEWS
Article 501c. Prudential treatment of exposures related to environmental and/or social objectives
Article 502. Cyclicality of capital requirements
Article 503. Own funds requirements for exposures in the form of covered bonds
Article 504. Capital instruments subscribed by public authorities in emergency situations
Article 504a. Holdings of eligible liabilities instruments
Article 505. Review of long-term financing
Article 506. Credit risk — definition of default
Article 507. Large exposures
Article 508. Level of application
Article 509. Liquidity requirements
Article 510. Net Stable Funding Requirements
Article 511. Leverage
Article 512. Exposures to transferred credit risk
Article 513. Macroprudential rules
Article 514. Method for the calculation of the exposure value of derivative transactions
Article 515. Monitoring and evaluation
Article 516. Long-term financing
Article 517. Definition of eligible capital
Article 518. Review of capital instruments which may be written down or converted at the point of non-viability
Article 518a. Review of cross-default provisions
Article 518b. Report on overshootings and supervisory powers to limit distributions
Article 519. Deduction of defined benefit pension fund assets from Common Equity Tier 1 items
Article 519a. Reporting and review
Article 519b. Own funds requirements for market risk
TITLE IIA IMPLEMENTATION OF RULES
Article 519c. Compliance tool
TITLE III AMENDMENTS
Article 520. Amendment of Regulation (EU) No 648/2012
PART ELEVEN FINAL PROVISIONS
Article 521. Entry into force and date of application
Article 522.Savings provisions: pre-exit decisions
Signature
ANNEX I
Classification of off-balance sheet items
1. Full risk:
2. Medium risk:
3. Medium/low risk:
4. Low risk:
ANNEX II
Types of derivatives
1. Interest-rate contracts:
2. Foreign-exchange contracts and contracts concerning gold:
3. Contracts of a nature similar to those in points 1(a)...
ANNEX III
Items subject to supplementary reporting of liquid assets
1. Cash.
2. Central bank exposures, to the extent that these exposures can...
3. Transferable securities representing claims on or claims guaranteed by sovereigns,...
4. Transferable securities other than those referred to in point 3...
5. Transferable securities representing claims on or claims guaranteed by sovereigns,...
6. Transferable securities other than those referred to in points 3,...
7. Transferable securities other than those referred to in points 3...
8. Transferable securities other than those referred to in points 3...
9. Standby credit facilities granted by central banks within the scope...
10. Legal or statutory minimum deposits with the central credit institution...
11. Exchange traded, centrally cleared common equity shares, that are a...
12. Gold listed on a recognised exchange, held on an allocated...
ANNEX IV
Correlation table
This Regulation Directive 2006/48/EC Directive 2006/49/EC Article 1 Article 2...
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