2006 No. 3221
FINANCIAL SERVICES AND MARKETS
The Capital Requirements Regulations 2006 (revoked)
Regulations revoked (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), regs. 1(2), 3, Sch. 3
Made 4th December 2006
Laid before Parliament 5th December 2006
Coming into force 1st January 2007

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 1 INTRODUCTION

1 Citation, commencement and interpretation
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 2 APPLICATIONS FOR PERMISSIONS

2 Application for permission
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Applications to an appropriate regulator as EEA consolidated supervisor
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Applications forwarded to an appropriate regulator as a relevant competent authority
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Proposals to vary or revoke a decision or joint decision
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Recognition and application of a decision or joint decision
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 Exercise of functions under section 138A of the Act for the purpose of applying a decision or a joint decision
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 3 EXERCISE OF SUPERVISION

10 Duties of an appropriate regulator as an EEA consolidated supervisor
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Duties of an appropriate regulator as EEA consolidated supervisor or national consolidated supervisor
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16A Significant branches
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16C
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16D
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16E General duties of FCA and PRA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16F The Bank of England’s general duties
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16G The relevant regulator’s duties in relation to employee remuneration
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17 Disclosed information
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 4 CREDIT INSTITUTIONS AND EXTERNAL CREDIT ASSESSMENT INSTITUTIONS

21 Interpretation
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

22 Recognition for exposure risk-weighting purposes
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23 Recognition for securitisation risk-weighting purposes
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 Publishing recognition process and list of ECAIs
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25 Revoking recognition
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 5 MISCELLANEOUS

26 Restriction on disclosure
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

27 Functions of the FCA and PRA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 Service of notices
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

29 Consequential amendments to primary and secondary legislation
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 1 Recognition of ECAIs
Regulations 22 and 23

PART 1 Methodology

1 Objectivity
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Independence
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Ongoing review
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Transparency and disclosure
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 2 Credit assessments

8 Credibility and market acceptance
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Transparency and Disclosure
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 2 Mapping
Regulation 22
1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 3 Consequential amendments to the Act
Regulation 29(1)
1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 4 Consequential amendments to other primary legislation
Regulation 29(2)

1 Amendment of the Consumer Credit Act 1974
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Amendment of the Companies Act 1985
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Amendment of the Building Societies Act 1986
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Amendment of the Bank of England Act 1998
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Amendment of the Criminal Justice Act 1993
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Amendment of the Terrorism Act 2000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Amendment of the Proceeds of Crime Act 2002
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 5 Consequential amendments to the Financial Conglomerates and Other Financial Groups Regulations 2004
Regulation 29 (3)
1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 6 Consequential amendments to other secondary legislation
Regulation 29(4)

1 Amendment of the Cash Ratio Deposits (Eligible Liabilities) Order 1998
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Amendment of the Cross-Border Credit Transfers Regulations 1999
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Amendment of the Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Amendment of the Competition Act 1998 (Determination of Turnover for Penalties) Order 2000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Amendment of the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 Amendment of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Amendment of the Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Amendment of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 Amendment of the Financial Services and Markets Act 2000 (Confidential Information) (Bank of England) (Consequential Provisions) Order 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Amendment of the Uncertified Securities Regulations 2001
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 Amendment of the Enterprise Act 2002 (Merger Fees and Determination of Turnover) Order 2003
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Amendment of the Money Laundering Regulations 2003
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16 Amendment of the Conduct of Employment Agencies and Employment Businesses Regulations 2003
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17 Amendment of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 Amendment of the Building Societies Act 1986 (Modification of the Lending Limit and Funding Limit Calculations) Order 2004
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .