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The Capital Requirements Regulation (Amendment) Regulations 2021

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The Capital Requirements Regulation (Amendment) Regulations 2021, Section 6 is up to date with all changes known to be in force on or before 03 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Part Three: capital requirementsU.K.

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6.—(1) Part Three (comprising Articles 92 to 386) (capital requirements) is amended as follows.

(2) In Title I (general requirements, valuation and reporting), omit—

(a)in Chapter 1 (comprising Articles 92 to 94)(1) (required level of own funds), Article 94 (derogation from own funds requirements for small trading book business);

(b)Chapter 2 (comprising Articles 99 to 101)(2) (calculation and reporting requirements);

(c)Chapter 3 (comprising Articles 102 to 106)(3) (trading book).

(3) In Title II (capital requirements for credit risk)—

(a)omit Article 128(4) (risk weights: items associated with particular high risk);

(b)omit Article 132(5) (exposures in the form of units or shares in collective investment undertakings);

(c)omit Article 132a(6) (risk weights: approaches for calculating risk-weighted exposure amounts of collective investment undertakings);

(d)omit Article 152(7) (internal ratings-based approach to credit risk: treatment of exposures in the form of units or shares in collective investment undertakings);

(e)omit Article 158 (internal ratings-based approach to credit risk: treatment by exposure type);

(f)in Chapter 6 (comprising Articles 271 to 311) (counterparty credit risk)—

(i)in Article 272 (definitions for the purposes of Chapter 6 of Title II of Part Three and Title VI of Part Three), omit—

(aa)in the heading before point (4), “, hedging sets,”;

(bb)point (5) (“risk position”);

(cc)point (6) (“hedging set”);

(dd)point (8) (“margin threshold”);

(ee)point (12) (“Current Market Value”);

(ff)point (26) (“payment leg”);

(ii)omit—

(aa)section 2 (comprising Article 273) (methods for calculating the exposure value);

(bb)section 3 (comprising Article 274) (mark-to-market method);

(cc)section 4 (comprising Article 275) (original exposure method);

(dd)section 5 (comprising Articles 276 to 282)(8) (standardised method);

(ee)section 9 (comprising Articles 300 to 311)(9) (own funds requirements for exposures to a central counterparty).

(4) In Title III (own funds requirements for operational risk), omit Article 316(10) (basic indicator approach to own funds requirements for operational risk: relevant indicator).

(5) In Title VI (own funds requirements for credit valuation adjustment risk), omit Article 385 (alternative to using CVA methods to calculating own funds requirements for credit valuation adjustment risk).

Commencement Information

I1Reg. 6 in force at 1.1.2022, see reg. 1(1)

(1)

Chapter 1 originally contained Articles 92 to 98, which were amended by S.I. 2018/1401 and 2019/710 and 1232 and are prospectively amended by paragraphs 16 to 20 of Schedule 1 to the Financial Services Act 2021.

(2)

Articles 99 to 101 were amended by S.I. 2018/1401 and 2019/710 and are prospectively amended by paragraphs 21 and 47 of Schedule 1 to the Financial Services Act 2021.

(3)

Articles 102 to 106 were amended by S.I. 2018/1401 and are prospectively amended by paragraph 47 of Schedule 1 to the Financial Services Act 2021.

(4)

Article 128 was amended by S.I. 2018/1401.

(5)

Article 132 was amended by S.I. 2018/1401.

(6)

Article 132a was amended by S.I. 2019/1232 and is prospectively amended by paragraph 47 of Schedule 1 to the Financial Services Act 2021.

(7)

Article 152 was amended by S.I. 2018/1401 and is prospectively amended by paragraph 47 of Schedule 1 to the Financial Services Act 2021.

(8)

Articles 276 to 282 were amended by S.I. 2018/1401 and 2019/1232 and is prospectively amended by paragraph 47 of Schedule 1 to the Financial Services Act 2021.

(9)

Articles 300 and 311 were amended by S.I. 2018/1401.

(10)

Article 316 was amended by S.I. 2018/1401.

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