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New version applies from 18/01/2015. 360 provisions change. Later versions: 02/04/2016, 15/09/2017, 01/01/2019, 08/07/2019, 01/01/2020, 30/07/2020, 15/04/2021, 02/08/2022, 14/11/2024, 30/01/2027. Article 82 changes in this version: compare with the current text.

Article 82 - Eligibility and limits applicable to Tiers 1, 2 and 3

Article 82
Eligibility and limits applicable to Tiers 1, 2 and 3

1.As far as compliance with the Solvency Capital Requirement is concerned, the eligible amounts of Tier 2 and Tier 3 items shall be subject to all of the following quantitative limits:

(a)

the eligible amount of Tier 1 items shall be at least one half of the Solvency Capital Requirement;

(b)

the eligible amount of Tier 3 items shall be less than 15 % of the Solvency Capital Requirement;

(c)

the sum of the eligible amounts of Tier 2 and Tier 3 items shall not exceed 50 % of the Solvency Capital Requirement.

2.As far as compliance with the Minimum Capital Requirements is concerned, the eligible amounts of Tier 2 items shall be subject to all of the following quantitative limits:

(a)

the eligible amount of Tier 1 items shall be at least 80 % of the Minimum Capital Requirement;

(b)

the eligible amounts of Tier 2 items shall not exceed 20 % of the Minimum Capital Requirement.

3.Within the limit referred to in point (a) of paragraph 1 and point (a) of paragraph 2, the sum of the following basic own-fund items shall make up less than 20 % of the total amount of Tier 1 items:

(a)

items referred to in point (a)(iii) of Article 69;

(b)

items referred to in point (a)(v) of Article 69;

(c)

items referred to in point (b) of Article 69;

(d)

items that are included in Tier 1 basic own funds under the transitional arrangement set out in Article 308b(9) of Directive 2009/138/EC.

Official text · consolidated version 17/01/2015 (no longer in force) Open full page ↗
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