Title II of Part One: level of application of requirementsI14
1
Title II of Part One (comprising Articles 6 to 24) (level of application requirements) is amended as follows.
2
In Article 65 (application of requirements on an individual basis: general principles)—
a
in paragraph 1, for “Parts Two to Five and Eight” substitute “Part Two, Part Three F1... and Chapter 2 of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation6 (provisions applicable to all securitisations)”;
F2b
omit paragraphs 3 to 5.
3
In Article 77 (derogation from the application of prudential requirements on an individual basis), in paragraph 3(a) and (b), for “parent institution in a Member State” substitute “UK parent institution”.
4
Omit Article 88 (derogation from the application of liquidity requirements on an individual basis).
5
In Article 119 (application of prudential requirements on a consolidated basis: general treatment)—
F3a
in paragraph 1, for “Parts Two, Three, Four, Seven and Seven A on the basis of their consolidated situation, with the exception of point (d) of Article 430(1)” substitute “Parts Two and Three on the basis of their consolidated situation”
b
omit paragraph 4;
F4c
in paragraph 6, in point (a) of the third subparagraph, for “2, 3, 4, 6, 7, 7A and 8” substitute “Two and Three”
.
F56
Omit Article 13 (application of disclosure requirements on a consolidated basis).
7
In Article 18(1) (methods of prudential consolidation), omit the second sentence.
8
Omit Article 22 (sub-consolidation in cases of entities in third countries).