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The Capital Requirements Regulation (Amendment) Regulations 2021
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- UK Statutory Instruments
- 2021 No. 1078
- Regulation 4
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The Capital Requirements Regulation (Amendment) Regulations 2021, Section 4 is up to date with all changes known to be in force on or before 04 November 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.
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Changes and effects yet to be applied to Regulation 4:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Title II of Part One: level of application of requirementsU.K.
This section has no associated Explanatory Memorandum
4.—(1) Title II of Part One (comprising Articles 6 to 24) (level of application requirements) is amended as follows.
(2) In Article 6(1) (application of requirements on an individual basis: general principles)—
(a)in paragraph 1, for “Parts Two to Five and Eight” substitute “Part Two, Part Three F1... and Chapter 2 of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation(2) (provisions applicable to all securitisations)”;
[F2(b)omit paragraphs 3 to 5.]
(3) In Article 7(3) (derogation from the application of prudential requirements on an individual basis), in paragraph 3(a) and (b), for “parent institution in a Member State” substitute “UK parent institution”.
(4) Omit Article 8(4) (derogation from the application of liquidity requirements on an individual basis).
(5) In Article 11(5) (application of prudential requirements on a consolidated basis: general treatment)—
[F3(a)in paragraph 1, for “Parts Two, Three, Four, Seven and Seven A on the basis of their consolidated situation, with the exception of point (d) of Article 430(1)” substitute “Parts Two and Three on the basis of their consolidated situation”]
(b)omit paragraph 4;
[F4(c)in paragraph 6, in point (a) of the third subparagraph, for “2, 3, 4, 6, 7, 7A and 8” substitute “Two and Three”.]
[F5(6) Omit Article 13 (application of disclosure requirements on a consolidated basis).]
(7) In Article 18(1) (methods of prudential consolidation), omit the second sentence.
(8) Omit Article 22 (sub-consolidation in cases of entities in third countries).
Textual Amendments
F1Words in reg. 4(2)(a) omitted (8.12.2021) by virtue of The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(a)(i)
F2Reg. 4(2)(b) substituted for reg. 4(2)(b)(c) (8.12.2021) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(a)(ii)
F3Reg. 4(5)(a) substituted (8.12.2021) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(b)(i)
F4Reg. 4(5)(c) substituted (8.12.2021) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(b)(ii)
F5Reg. 4(6) substituted (8.12.2021) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(2), 32(2)(c)
Commencement Information
(1)
Article 6 was amended by S.I. 2018/1401 and 2019/1232.
(2)
EUR 2017/2402 as amended by S.I. 2019/660 and 2019/876.
(3)
Article 7 was amended by S.I. 2018/1401.
(4)
Article 8 was amended by S.I. 2018/1401.
(5)
Article 11 was amended by S.I. 2020/1385; there is another amending instrument but it is not relevant.
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