PART 3Amendments of Secondary Legislation
The Bank of England Act 1998 (Macro-prudential Measures) (No 2) Order 201512
1
The Bank of England Act 1998 (Macro-prudential Measures) (No 2) Order 201522 is amended as follows.
2
In article 2(1)—
a
omit the definition of “capital requirements directive”;
b
for the definition of “countercyclical capital buffer rate” substitute—
“countercyclical capital buffer rate” means any of the rates that UK banks and investment firms must apply to calculate their institution-specific countercyclical capital buffer;
c
for the definition of “G-SII buffer” substitute—
“G-SII buffer” has the meaning given in regulation 2 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 201423;
d
at the appropriate place, insert—
“institution-specific countercyclical capital buffer” has the meaning given in regulation 2 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014;
e
in the definition of “SRB institution”, for “34D” substitute “34C”;
f
in the definition of “systemic risk buffer”, for “regulation 2”, substitute “regulation 34A”.