- Latest available (Revised)
- Point in Time (31/12/2020)
- Original (As adopted by EU)
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)
When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.
Legislation.gov.uk publishes the UK version. EUR-Lex publishes the EU version. The EU Exit Web Archive holds a snapshot of EUR-Lex’s version from IP completion day (31 December 2020 11.00 p.m.).
Version Superseded: 01/01/2022
Point in time view as at 31/12/2020.
There are currently no known outstanding effects by UK legislation for Regulation (EU) No 575/2013 of the European Parliament and of the Council, PART ELEVEN .
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
1 . This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union .
2 . This Regulation shall apply from 1 January 2014 , with the exception of:
( a ) Article 8(3), Article 21 and Article 451(1), which shall apply from 1 January 2015 ;
( b ) Article 413(1), which shall apply from 1 January 2016 ;
( c ) the provisions of this Regulation that require the ESAs to submit to the Commission draft technical standards and the provisions of this Regulation that empower the Commission to adopt delegated acts or implementing acts, which shall apply from 28 June 2013 .
1.Where a decision of the type set out in paragraph 2 is made before IP completion by a body other than the PRA or FCA—
(a)that decision shall continue to have effect on and after IP completion;
(b)the PRA and FCA shall have the same powers in respect of that decision on and after IP completion as if it was a decision taken by the PRA in relation to a PRA-authorised person and the FCA in relation to any other person; and
(c)those powers shall include the power to review, vary, modify or revoke the decision.
2.The types of decision are—
(a)in respect of applications for the permissions referred to in Articles 143(1), 143(3), 151(4), 151(9), 283, 312(2) and 363 of Regulation No 575/2013, a decision whether or not to grant the permission sought and to determine the terms and conditions pursuant to which any such permission should be subject, where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 20(1) of Regulation No 575/2013; or
(ii)by the consolidating supervisor in accordance with Article 20(4) of Regulation No 575/2013;
(b)a decision whether the criteria for a specific intragroup treatment referred to in Articles 422(9) and 425(4) of Regulation No 575/2013 are met, where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 20(1) of Regulation No 575/2013; or
(ii)by the competent authority responsible for the supervision of the subsidiary on an individual basis in accordance with Article 20(5) of Regulation No 575/2013;
(c)a decision on whether the conditions in points (a) to (d) of Article 8(1) of Regulation No 575/2013 are met and identifying a single liquidity sub-group for the application of Article 8 of Regulation No 575/2013 (including where that decision also imposes constraints on the locations and ownership of liquid assets and requires minimum amounts of liquid assets to be held by institutions that are exempt from the application of Part 6), where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 21(1) of Regulation No 575/2013; or
(ii)by the competent authority responsible for supervision on an individual basis in accordance with Article 21(2) of Regulation No 575/2013;
(d)a decision on the application of Articles 73 and 97 of Directive 2013/36/EU to determine the adequacy of the consolidated level of own funds held by the group of institutions with respect to its financial situation and risk profile and the required level of own funds for the application of Article 104(1)(a) of Directive 2013/36/EU to each entity within the group of institutions and on a consolidated basis, where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 113(1) of Directive 2013/36/EU; or
(ii)by the consolidating supervisor in accordance with Article 113(3) of Directive 2013/36/EU;
(e)a decision on measures required to address any significant matters and material findings relating to liquidity supervision including relating to the adequacy of the organisation and the treatment of risks as required pursuant to Article 86 of Directive 2013/36/EU and relating to the need for institution-specific liquidity requirements in accordance with Article 105 of Directive 2013/36/EU, where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 113(1) of Directive 2013/36/EU; or
(ii)by the consolidating supervisor in accordance with Article 113(3) of Directive 2013/36EU;
(f)a decision to update a decision of the type specified in (d) or (e), where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 113(4) of Directive 2013/36/EU;
(ii)by the consolidating supervisor in accordance with Article 113(4) of Directive 2013/36/EU; or
(iii)as a decision of bilateral application made in accordance with Article 105 (4) of Directive 2013/36/EU by the consolidating supervisor and a relevant competent authority where one of those parties was the PRA or FCA;
(g)a decision under the second sub-paragraph of Article 124(2) of Regulation No 575/2013, taken by a competent authority other than the PRA or FCA, to set higher risk weights or apply stricter criteria in respect of exposures secured on residential or commercial immovable property located in its territory;
(h)a decision under the second sentence of Article 164(5) of Regulation No 575/2013, taken by a competent authority other than the PRA or FCA, to set higher minimum values of exposure weighted average LGD for exposures secured by immovable property located in their territory;
(i)a decision determining whether the criteria referred to in Article 29(2) and Article 34(2) of Commission Delegated Regulation (EU) 2015/61 of 10th of October 2014 are met, where that decision has been made—
(i)jointly by the competent authorities in accordance with Article 20(1) of Regulation No 575/2013; or
(ii)by the competent authority responsible for the supervision of the subsidiary on an individual basis in accordance with Article 20(5) of Regulation No 575/2013.
3.For the purposes of paragraph 2, references to specific provisions of Regulation No 575/2013, Directive 2013/36/EU, and Commission Delegated Regulation (EU) 2015/61 are to those instruments as they stood immediately before IP completion, and without the modifications made under the European (Withdrawal) Act 2018.]]
Textual Amendments
F1Art. 522 inserted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 216 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 11(h) and with savings in S.I. 2019/680, reg. 11)); 2020 c. 1, Sch. 5 para. 1(1)
The Whole Regulation you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Regulation you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Regulation without Annexes you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Regulation without Annexes you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Regulation you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Regulation without Annexes you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different versions taken from EUR-Lex before exit day and during the implementation period as well as any subsequent versions created after the implementation period as a result of changes made by UK legislation.
The dates for the EU versions are taken from the document dates on EUR-Lex and may not always coincide with when the changes came into force for the document.
For any versions created after the implementation period as a result of changes made by UK legislation the date will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. For further information see our guide to revised legislation on Understanding Legislation.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: