575/2013

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The legislation has been amended several times, in line with evolving international regulatory standards set by the Basel Committee on Banking Supervision. Delegated and implementing acts. A full list of these acts is available here. Common equity tier1. A standard which aims to improve the financial reporting of financial instruments with the use of a more forward-looking model to recognise expected credit losses on financial assets. Therefore, arrangements are needed to mitigate the potentially significant negative impact on common equity Tier 1 capital arising from expected credit loss accounting.

575/2013

Having regard to the Treaty on the Functioning of the European Union, and in particular Article thereof,. Having regard to the opinion of the European Central Bank 1 ,. Having regard to the opinion of the European Economic and Social Committee 2 ,. The G Declaration of 2 April on Strengthening of the Financial System called for internationally consistent efforts that are aimed at strengthening transparency, accountability and regulation by improving the quantity and quality of capital in the banking system once the economic recovery is assured. That declaration also called for introduction of a supplementary non-risk based measure to contain the build-up of leverage in the banking system, and the development of a framework for stronger liquidity buffers. Those measures were endorsed by the G leaders at their Pittsburgh Summit of September and were set out in detail in December This Regulation should therefore be read together with that Directive. This Regulation should, inter alia, contain the prudential requirements for institutions that relate strictly to the functioning of banking and financial services markets and are meant to ensure the financial stability of the operators on those markets as well as a high level of protection of investors and depositors. This Regulation aims at contributing in a determined manner to the smooth functioning of the internal market and should, consequently, be based on the provisions of Article TFEU, as interpreted in accordance with the consistent case-law of the Court of Justice of the European Union. This results in divergences between national rules, which might hamper the cross-border provision of services and the freedom of establishment and so create obstacles to the smooth functioning of the internal market. For reasons of legal certainty and because of the need for a level playing field within the Union, a single set of regulations for all market participants is a key element for the functioning of the internal market. In order to avoid market distortions and regulatory arbitrage, prudential minimum requirements should therefore ensure maximum harmonisation. As a consequence, the transitional periods provided for in this Regulation are essential for the smooth implementation of this Regulation and to avoid uncertainty for the markets.

Based on this evaluation, 575/2013, the Commission should report to the 575/2013 Parliament and the Council together with any appropriate proposals in order to introduce such a requirement by

OJ L , In force: This act has been changed. Languages, formats and link to OJ. Multilingual display. Having regard to the Treaty on the Functioning of the European Union, and in particular Article thereof,.

Uredba EU br. OJ L , In force: This act has been changed. Languages, formats and link to OJ. Multilingual display.

575/2013

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Languages, formats and link to OJ. In that regard the Commission should take into account the fact that institutions calculating the liquidity coverage requirements in accordance with this Regulation should be permitted to include NAMA senior bonds as assets of extremely high liquidity and credit quality until December In line with international agreements, it should be introduced first as an additional feature that can be applied on individual institutions at the discretion of supervisory authorities. In that context, EBA should, based on reporting required by this Regulation, evaluate how a stable funding requirement should be designed. Until the harmonisation of liquidity requirements in and the harmonisation of a leverage ratio in , Member States should be able to apply such measures as they consider appropriate, including measures to mitigate macroprudential or systemic risk in a specific Member State. The decision shall be provided to the consolidating supervisor that informs the EU parent institution, the EU parent financial holding company or the EU parent mixed financial holding company. To that end, during the transition period the competent authorities should determine within defined lower and upper limits how rapidly to introduce the required level of own funds and prudential adjustments laid down in this Regulation. The general funding obligation should not be a ratio requirement. In order to ensure that institutions have sufficient time to meet the new required levels and definition of own funds, certain capital instruments that do not comply with the definition of own funds laid down in this Regulation should be phased out between 1 January and 31 December The proportion of significant investments in the total amount of items that is not required to be deducted is equal to one minus the proportion referred to in the first subparagraph. The same applies in cases of regional governments or local authorities to which Article 2 applies.

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Institutions, except for investment firms referred to in Article 95 1 and Article 96 1 and institutions for which competent authorities have exercised the derogation specified in Article 7 1 or 3 , shall comply with the obligations laid down in Part Seven on an individual basis. Until the date of application of the full liquidity requirements, institutions should continue to meet their national reporting requirements. The Commission should ensure that delegated and implementing acts, regulatory technical standards and implementing technical standards are consistent with the principle of proportionality, so as to guarantee that this Regulation is applied in a proportionate manner. The Commission should address specific grandfathering mechanisms of transferable assets issued or guaranteed by entities with Union State aid approval, as part of the delegated act which it adopts pursuant to this Regulation to specify the liquidity coverage requirement. Performance cookies help us collect anonymous statistical data such as the number of visits, the average time spent on the website or the pages consulted during a browsing session. The Commission should ensure that the European Parliament and the Council are always well informed about relevant developments at international level and current thinking within the Commission well before the publication of delegated acts. The Commission should address specific grandfathering mechanisms of transferable assets issued or guaranteed by entities with Union State aid approval as part of the delegated act which it adopts pursuant to this Regulation to specify the liquidity coverage requirement. The same applies in cases of regional governments or local authorities to which Article 2 applies. Supervision of investment firms waived from the application of own funds requirements on a consolidated basis. In view of the emerging state of the art for the measurement and management of operational risk the rules should be kept under review and updated as appropriate including in relation to the charges for different business lines and the recognition of risk mitigation techniques. EU banking law. Where the criteria in the first subparagraph are met, each EU investment firm shall have in place systems to monitor and control the sources of capital and funding of all financial holding companies, investment firms, financial institutions, asset management companies and ancillary services undertakings within the group.