1.As far as compliance with the Solvency Capital Requirement is concerned, the eligible amounts of Tier 2 and Tier 3 items shall be subject to all of the following quantitative limits:
(a)the eligible amount of Tier 1 items shall be at least one half of the Solvency Capital Requirement;
(b)the eligible amount of Tier 3 items shall be less than 15 % of the Solvency Capital Requirement;
(c)the sum of the eligible amounts of Tier 2 and Tier 3 items shall not exceed 50 % of the Solvency Capital Requirement.
2.As far as compliance with the Minimum Capital Requirements is concerned, the eligible amounts of Tier 2 items shall be subject to all of the following quantitative limits:
(a)the eligible amount of Tier 1 items shall be at least 80 % of the Minimum Capital Requirement;
(b)the eligible amounts of Tier 2 items shall not exceed 20 % of the Minimum Capital Requirement.
3.Within the limit referred to in point (a) of paragraph 1 and point (a) of paragraph 2, the sum of the following basic own-fund items shall make up less than 20 % of the total amount of Tier 1 items:
(a)items referred to in point (a)(iii) of Article 69;
(b)items referred to in point (a)(v) of Article 69;
(c)items referred to in point (b) of Article 69;
(d)items that are included in Tier 1 basic own funds under the transitional arrangement set out in Article 308b(9) of Directive 2009/138/EC.
Editorial Information
X1 Substituted by Corrigendum to Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Official Journal of the European Union L 12 of 17 January 2015).