S.I. No. 682/2024 - European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2024

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 10th December, 2024.

I, JACK CHAMBERS, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Regulation (EU) No 575/2013 of the European Parliament and Council of 26 June 2013¹ , as amended by Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024² and Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024³ , hereby make the following regulations:

Citation and commencement

1.

• (2) These Regulations come into operation on 1 January 2025.

Definition

2.

Amendment of Principal Regulations

3.

• (a) in Regulation 2, by the substitution of the following definition for the definition of “Capital Requirements Regulation”:

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013⁴ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016⁶ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017⁸ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017⁹ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹⁰ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹¹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹² amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹³ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁴ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁶ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁷ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁸ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁹ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024²⁰ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024²¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk.”,

• (b) in Regulation 3(3), by the substitution of “Article 124(9)” for “Article 124(2)”,

• (c) by the insertion of the following Regulation after Regulation 3:

“Own funds requirements

3A. (1) Notwithstanding the first subparagraph of paragraph 3 of Article 92 of the Capital Requirements Regulation, where –

• (a) an institution is part of a group with a parent institution in the State, and

• (b) that parent institution or, in the case of a group composed of a central body and permanently affiliated institutions, the whole as constituted by the central body together with its affiliated institutions, calculates its total risk exposure amount in accordance with the first subparagraph of paragraph 3 of Article 92 of the Capital Requirements Regulation on a consolidated basis,

the total risk exposure amount of the institution for the purposes of the Capital Requirements Regulation shall be the un-floored total risk exposure amount, calculated in accordance with paragraph 4 of the said Article 92.

• (2) A word or expression used in this Regulation that is also used in the Capital Requirements Regulation has, unless the context otherwise requires, the same meaning in this Regulation as it has in the Capital Requirements Regulation.”,

and

• (d) in Regulation 5, by the substitution of “Article 382, 394, 430, 430a or 430b” for “Article 394, 430, 430a or 430b”.

Amendment of Central Bank Act 1942

4.

• (a) in section 2(1), by the substitution of the following definition for the definition of “Capital Requirements Regulation”:

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013²² on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014²³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016²⁴ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017²⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017²⁶ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017²⁷ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017²⁸ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019²⁹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019³⁰ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019³¹ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020³² amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019³³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021³⁴ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021³⁵ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022³⁶ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023³⁷ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024³⁸ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024³⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”, and

• (b) in Part 2 of Schedule 2, by the insertion of the following item:

“

85	S.I. No. 159 of 2014	European Union (Capital Requirements) (No.2) Regulations 2014	The whole instrument

”.

Amendment of Central Bank Act 1971

5.

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013⁴⁰ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014⁴¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016⁴² amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017⁴³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017⁴⁴ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017⁴⁵ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017⁴⁶ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019⁴⁷ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019⁴⁸ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019⁴⁹ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020⁵⁰ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019⁵¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021⁵² amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021⁵³ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022⁵⁴ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023⁵⁵ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024⁵⁶ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024⁵⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Taxes Consolidation Act 1997

6.

• (a) in section 110(5A)(a), by the substitution of the following definition for the definition of “CRR”:

“ ‘CRR’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013⁵⁸ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014⁵⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016⁶⁰ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017⁶¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017⁶² amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017⁶³ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017⁶⁴ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019⁶⁵ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019⁶⁶ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019⁶⁷ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020⁶⁸ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019⁶⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021⁷⁰ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021⁷¹ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022⁷² amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023⁷³ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024⁷⁴ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024⁷⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”, and

• (b) in section 845C(1), by the substitution of the following definition for the definition of “Capital Requirements Regulation”:

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013⁷⁶ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014⁷⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016⁷⁸ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017⁷⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017⁸⁰ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017⁸¹ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017⁸² correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019⁸³ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019⁸⁴ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019⁸⁵ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020⁸⁶ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019⁸⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021⁸⁸ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021⁸⁹ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022⁹⁰ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023⁹¹ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024⁹² amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024⁹³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

7.

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013⁹⁴ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014⁹⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016⁹⁶ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017⁹⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017⁹⁸ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017⁹⁹ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹⁰⁰ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹⁰¹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹⁰² amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹⁰³ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁰⁴ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁰⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁰⁶ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁰⁷ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁰⁸ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁰⁹ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024¹¹⁰ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024¹¹¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Communities (Electronic Money) Regulation 2011

8.

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013¹¹² on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014¹¹³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016¹¹⁴ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017¹¹⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017¹¹⁶ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017¹¹⁷ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹¹⁸ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹¹⁹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹²⁰ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹²¹ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹²² amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹²³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹²⁴ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹²⁵ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹²⁶ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹²⁷ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024¹²⁸ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024¹²⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Capital Requirements) Regulations 2014

9.

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013¹³⁰ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014¹³¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016¹³² amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017¹³³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017¹³⁴ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017¹³⁵ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹³⁶ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹³⁷ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹³⁸ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹³⁹ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁴⁰ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁴¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁴² amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁴³ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁴⁴ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁴⁵ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024¹⁴⁶ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024¹⁴⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Bank Recovery and Resolution) Regulations 2015

10.

“ ‘Union Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013¹⁴⁸ on prudential requirements for credit institutions and investment firms and mending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014¹⁴⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016¹⁵⁰ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017¹⁵¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017¹⁵² amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017¹⁵³ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹⁵⁴ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹⁵⁵ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹⁵⁶ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹⁵⁷ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁵⁸ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁵⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁶⁰ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁶¹ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁶² amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁶³ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024¹⁶⁴ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024¹⁶⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of the European Union (Deposit Guarantee Schemes) Regulations 2015

11.

“ ‘Union Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013¹⁶⁶ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014¹⁶⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016¹⁶⁸ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017¹⁶⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017¹⁷⁰ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017¹⁷¹ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹⁷² correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹⁷³ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹⁷⁴ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹⁷⁵ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁷⁶ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁷⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁷⁸ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁷⁹ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁸⁰ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁸¹ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024¹⁸² amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024¹⁸³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Payment Services) Regulations 2018

12.

“ ‘Regulation (EU) No 575/2013’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013¹⁸⁴ on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014¹⁸⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016¹⁸⁶ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017¹⁸⁷ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017¹⁸⁸ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017¹⁸⁹ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017¹⁹⁰ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019¹⁹¹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019¹⁹² amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019¹⁹³ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020¹⁹⁴ amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019¹⁹⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021¹⁹⁶ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021¹⁹⁷ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022¹⁹⁸ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023¹⁹⁹ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024²⁰⁰ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024²⁰¹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023

13.

“ ‘Capital Requirement Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013²⁰² on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

• (a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014²⁰³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

• (b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016²⁰⁴ amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

• (c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017²⁰⁵ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

• (d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017²⁰⁶ amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

• (e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017²⁰⁷ amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

• (f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017²⁰⁸ correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

• (g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019²⁰⁹ amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

• (h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019²¹⁰ amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

• (i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019²¹¹ on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

• (j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020²¹² amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

• (k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019²¹³ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

• (l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021²¹⁴ amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

• (m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021²¹⁵ on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

• (n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022²¹⁶ amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

• (o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023²¹⁷ amending certain Regulations as regards the establishment and functioning of the European single access point,

• (p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024²¹⁸ amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

• (q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024²¹⁹ amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

GIVEN under my Official Seal,

5 December, 2024.

JACK CHAMBERS,

Minister for Finance.

Footnotes