The Capital Requirements Regulations 2013

PART 5 U.K. Publication of information by PRA and FCA

General disclosures required of PRA and FCA U.K.

18.—(1) In this regulation, a “relevant institution” is an institution falling within the scope of the capital requirements directive M1 .

(2) The PRA and FCA must publish—

(a) the texts of laws, regulations, administrative rules and general guidance adopted in the United Kingdom in the field of the prudential regulation of relevant institutions;

(b) the manner in which the options and discretions available under the capital requirements regulation and capital requirements directive have been exercised;

(c) the general criteria and methodologies they use in the review and evaluation referred to in Article 97 of the capital requirements directive;

(d) aggregate statistical data on key aspects of the implementation of the prudential framework for relevant institutions in the United Kingdom, including the number and nature of supervisory measures taken and penalties imposed in respect of breaches of requirements of the capital requirements regulation and the capital requirements directive.

(3) The information published in accordance with paragraph (2) must be—

(a) sufficient to enable a meaningful comparison between the approach adopted by the United Kingdom and the approaches adopted by other EEA States;

(b) published using a common format and updated regularly; and

(c) accessible at a single electronic location.

Marginal Citations

M1 The scope of the capital requirements directive is set out in Article 2 (scope).

Specific disclosures required of PRA and FCA U.K.

19.—(1) For the purposes of Part 5 of the capital requirements regulation, the PRA and FCA must publish—

(a) the general criteria and methodologies adopted to review compliance with Articles 405 to 409 of the capital requirements regulation; and

(b) a summary description of the outcome of the supervisory review and a description of the measures imposed in cases of non-compliance with Articles 405 to 409 of the capital requirements regulation, identified on an annual basis.

(2) In relation to Article 7(3) of the capital requirements regulation, the PRA and FCA must publish—

(a) the criteria they apply in order to determine whether there is a current or foreseeable material, practical or legal impediment to the prompt transfer of own funds or repayment of liabilities;

(b) the number of parent institutions which benefit from the exercise of the discretion laid down in Article 7(3) of the capital requirements regulation and the number of those which incorporate subsidiaries in a third country; and

(c) on an aggregate basis for the United Kingdom—

(i) the total amount of own funds on the consolidated basis of parent institutions in the United Kingdom, which benefit from the exercise of the discretion laid down in Article 7(3) of the capital requirements regulation, which are held in subsidiaries in a third country;

(ii) the percentage of total own funds on the consolidated basis of parent institutions in the United Kingdom which benefit from the exercise of the discretion laid down in Article 7(3) of the capital requirements regulation, represented by own funds which are held in subsidiaries in a third country; and

(iii) the percentage of total own funds required under Article 92 of the capital requirements regulation on the consolidated basis of parent institutions in the United Kingdom, which benefit from the exercise of the discretion laid down in Article 7(3) of the capital requirements regulation, represented by own funds which are held in subsidiaries in a third country.

(3) In relation to Article 9(1) of the capital requirements regulation, the PRA and FCA must publish—

(a) the criteria they apply in order to determine whether there is a current or foreseeable material, practical or legal impediment to the prompt transfer of own funds or repayment of liabilities;

(b) the number of parent institutions which benefit from the exercise of the discretion laid down in Article 9(1) of the capital requirements regulation and the number of such parent institutions which incorporate subsidiaries in a third country; and

(c) on an aggregate basis for the United Kingdom—

(i) the total amount of own funds of parent institutions which benefit from the exercise of the discretion laid down in Article 9(1) of the capital requirements regulation which are held in subsidiaries in a third country;

(ii) the percentage of total own funds of parent institutions which benefit from the exercise of the discretion laid down in Article 9(1) of the capital requirements regulation represented by own funds which are held in subsidiaries in a third country; and

(iii) the percentage of total own funds required under Article 92 of the capital requirements regulation of parent institutions which benefit from the exercise of the discretion laid down in Article 9(1) of the capital requirements regulation represented by own funds which are held in subsidiaries in a third country.