What changes on 13/04/2015

The text in force from 03/04/2014 compared with the text from 13/04/2015, which includes the changes made by Commission Delegated Regulation (EU) 2015/488.

Read the act as of 13/04/2015 · other versions: 22/06/2015 · 07/07/2015 · 23/12/2020 · 09/05/2023

Chapter I

• amended Article 1 - Subject matter

Chapter II › Section 1 › Subsection 1

• amended Article 2 - Meaning of ‘foreseeable’ in foreseeable dividend for the purposes of Article 26(2)(b) of Regulation (EU) No 575/2013
• amended Article 3 - Meaning of ‘foreseeable’ in foreseeable charge for the purposes of Article 26(2)(b) of Regulation (EU) No 575/2013

Chapter II › Section 1 › Subsection 2

• amended Article 4 - Type of undertaking recognised under applicable national law as a cooperative society for the purposes of Article 27(1)(a)(ii) of Regulation (EU) No 575/2013
• amended Article 5 - Type of undertaking recognised under applicable national law as a savings institution for the purposes of Article 27(1)(a)(iii) of Regulation (EU) No 575/2013
• amended Article 6 - Type of undertaking recognised under applicable national law as a mutual for the purposes of Article 27(1)(a)(i) of Regulation (EU) No 575/2013
• amended Article 7 - Type of undertaking recognised under applicable national law as a similar institution for the purposes of Article 27(1)(a)(iv) of Regulation (EU) No 575/2013

Chapter II › Section 1 › Subsection 3

• amended Article 8 - Indirect funding of capital instruments for the purposes of Article 28(1)(b,) Article 52(1)(c) and Article 63(c) of Regulation (EU) No 575/2013
• amended Article 9 - Applicable forms and nature of indirect funding of capital instruments for the purposes of Article 28(1)(b) and 52(1)(c) and 63(c) of Regulation (EU) No 575/2013

Chapter II › Section 1 › Subsection 4

• amended Article 10 - Limitations on redemption of capital instruments issued by mutuals, savings institutions, cooperative societies and similar institutions for the purposes of Article 29(2)(b) of Regulation (EU) No 575/2013 and Article 78(3) of Regulation (EU) No 575/2013
• amended Article 11 - Limitations on redemption of capital instruments issued by mutuals, savings institutions, cooperative societies and similar institutions for the purposes of Article 29(2)(b) of Regulation (EU) No 575/2013 and Article 78(3) of Regulation (EU) No 575/2013

Chapter II › Section 2

• amended Article 12 - The concept of gain on sale for the purposes of Article 32(1)(a) of Regulation (EU) No 575/2013

Chapter II › Section 3

• amended Article 13 - Deduction of losses for the current financial year for the purposes of Article 36(1)(a) of Regulation (EU) No 575/2013
• amended Article 14 - Deductions of deferred tax assets that rely on future profitability for the purposes of Article 36(1)(c) of Regulation (EU) No 575/2013
• amended Article 15 - Deduction of defined benefit pension fund assets for the purposes of Article 36(1)(e) of Regulation (EU) No 575/2013 and Article 41(1)(b) of Regulation (EU) No 575/2013
• amended Article 16 - Deductions of foreseeable tax charges for the purposes of Article 36(1)(l) and Article 56(f) of Regulation (EU) No 575/2013

Chapter II › Section 4

• amended Article 17 - Other deductions for capital instruments of financial institutions for the purposes of Article 36(3) of Regulation (EU) No 575/2013
• amended Article 18 - Capital instruments of third country insurance and reinsurance undertakings for the purposes of Article 36(3) of Regulation (EU) No 575/2013
• amended Article 19 - Capital instruments of undertakings excluded from the scope of Directive 2009/138/EC for the purposes of Article 36(3) of Regulation (EU) No 575/2013

Chapter III › Section 1

• amended Article 20 - Form and nature of incentives to redeem for the purposes of Article 52(1)(g) and 63(h)of Regulation (EU) No 575/2013

Chapter III › Section 2

• amended Article 21 - Nature of the write-up of the principal amount following a write-down for the purposes of Article 52(1)(n) and Article 52(2)(c)(ii) of Regulation (EU) No 575/2013
• amended Article 22 - Procedures and timing for determining that a trigger event has occurred for the purposes of Article 52(1)(n) of Regulation (EU) No 575/2013

Chapter III › Section 4

• amended Article 24 - Use of special purposes entities for indirect issuance of own funds instruments for the purposes of Article 52(1)(p) and Article 63(n) of Regulation (EU) No 575/2013

Chapter IV › Section 1

• amended Article 25 - Extent of conservatism required in estimates for calculating exposures used as an alternative to the underlying exposures for the purposes of Article 76(2) of Regulation (EU) No 575/2013
• amended Article 26 - Meaning of operationally burdensome in Article 76(3) of Regulation (EU) No 575/2013

Chapter IV › Section 2

• amended Article 28 - Process and data requirements for an application by an institution to carry out redemptions, reductions and repurchases — for the purposes of Article 77 of Regulation (EU) No 575/2013
• amended Article 29 - Submission of application by the institution to carry out redemptions, reductions and repurchases for the purposes of Article 77 and Article 78 of Regulation (EU) No 575/2013 and appropriate bases of limitation of redemption for the purposes of paragraph 3 of Article 78 of Regulation (EU) No 575/2013
• amended Article 30 - Content of the application to be submitted by the institution for the purposes of Article 77 of Regulation (EU) No 575/2013
• amended Article 31 - Timing of the application to be submitted by the institution and processing of the application by the competent authority for the purposes of Article 77 of Regulation (EU) No 575/2013
• amended Article 32 - Applications for redemptions, reductions and repurchases by mutuals, cooperative societies, savings institutions or similar institutions for the purposes of Article 77 of Regulation (EU) No 575/2013

Chapter IV › Section 3

• amended Article 33 - Temporary waiver from deduction from own funds for the purposes of Article 79(1) of Regulation (EU) No 575/2013

Chapter V

• amended Article 34 - The type of assets that can relate to the operation of special purpose entities and meaning of minimal and insignificant regarding qualifying Additional Tier 1 and Tier 2 capital issued by special purpose entities for the purposes of Article 83(1) of Regulation (EU) No 575/2013

Chapter VA

• inserted Article 34b - Calculation of the eligible capital of at least one quarter of the fixed overheads of the preceding year for the purposes of Article 97(1) of Regulation (EU) No 575/2013
• inserted Article 34c - Conditions for the adjustment by the competent authority of the requirement to hold eligible capital of at least one quarter of the fixed overheads of the previous year according to Article 97(2) of Regulation (EU) No 575/2013
• inserted Article 34d - Calculation of projected fixed overheads in the case of a firm that has not completed business for one year according to Article 97(3) of Regulation (EU) No 575/2013

Outside any heading

• amended Recital 1
• amended Recital 2
• amended Recital 3
• amended Recital 4
• amended Recital 5
• amended Recital 6
• amended Recital 7
• amended Recital 8
• amended Recital 9
• amended Recital 10
• amended Recital 11
• amended Recital 12
• amended Recital 13
• amended Recital 14
• amended Recital 15
• amended Recital 16
• amended Recital 17
• amended Recital 18
• amended Recital 19
• amended Recital 20
• amended Recital 21
• amended Recital 22
• amended Recital 23
• amended Preamble

Chapter VI

• amended Article 35 - Additional filters and deductions for the purposes of Article 481(1) of Regulation (EU) No 575/2013
• amended Article 36 - Items excluded from grandfathering of capital instruments not consituting state aid in Common Equity Tier 1 or Additional Tier 1 items in other elements of own funds for the purposes of Article 487(1) and (2) of Regulation (EU) No 575/2013
• amended Article 37