The Capital Requirements (Amendment) Regulations 2012

Amendment of the Capital Requirements Regulations 2006

6.  In regulation 10B (the Authority’s duties as an EEA consolidated supervisor: joint decision on level of own funds)—

(a) in paragraphs (4) and (5)(a) and (b), for “the Committee of European Banking Supervisors” substitute “EBA”;

(b) after paragraph (5) insert—

“(5A) If, by the end of the four month period referred to in paragraph (5), any of the relevant competent authorities has referred the matter to EBA in accordance with Article 19 of the regulation establishing EBA, the Authority must defer its decision and await any decision that EBA may take in accordance with Article 19(3) of that regulation.

(5B) If EBA takes a decision in accordance with Article 19(3) of the regulation establishing EBA, the Authority must take its decision on the matters referred to in paragraph (5)(a) in conformity with the decision of EBA.”; and

(c) in paragraph (7) for “(3) and (5)” substitute “(3), (5) and (5A)”.