The Capital Requirements Regulations 2006

Made: 4th December 2006

Laid before Parliament: 5th December 2006

Coming into force: 1st January 2007

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PART 1 — INTRODUCTION

Citation, commencement and interpretation

1

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PART 2 — APPLICATIONS FOR PERMISSIONS

Application for permission

2

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Applications to the Authority as EEA consolidated supervisor

3

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Applications forwarded to the Authority as a relevant competent authority

4

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Proposals to vary or revoke a decision or joint decision

5

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6

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Recognition and application of a decision or joint decision

7

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Exercise of functions under section 148 of the Act for the purpose of applying a decision or a joint decision

8

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9

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PART 3 — EXERCISE OF SUPERVISION

The Authority's duties as an EEA consolidated supervisor

10

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11

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12

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The Authority’s duties as EEA consolidated supervisor or national consolidated supervisor

13

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14

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15

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16

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Disclosed information

17

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Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

18

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19

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20

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PART 4 — CREDIT INSTITUTIONS AND EXTERNAL CREDIT ASSESSMENT INSTITUTIONS

Interpretation

21

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Recognition for exposure risk-weighting purposes

22

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Recognition for securitisation risk-weighting purposes

23

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Publishing recognition process and list of ECAIs

24

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Revoking recognition

25

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PART 5 — MISCELLANEOUS

Restriction on disclosure

26

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Functions of the Authority

27

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Service of notices

28

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Consequential amendments to primary and secondary legislation

29

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SCHEDULE 1 — Recognition of ECAIs

PART 1 — Methodology

Objectivity

1

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Independence

2

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3

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Ongoing review

4

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5

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6

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Transparency and disclosure

7

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PART 2 — Credit assessments

Credibility and market acceptance

8

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9

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Transparency and Disclosure

10

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SCHEDULE 2 — Mapping

1

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2

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3

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4

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5

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SCHEDULE 3 — Consequential amendments to the Act

1

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2

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3

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SCHEDULE 4 — Consequential amendments to other primary legislation

Amendment of the Consumer Credit Act 1974

1

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Amendment of the Companies Act 1985

2

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Amendment of the Building Societies Act 1986

3

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Amendment of the Bank of England Act 1998

4

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Amendment of the Criminal Justice Act 1993

5

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Amendment of the Terrorism Act 2000

6

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Amendment of the Proceeds of Crime Act 2002

7

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SCHEDULE 5 — Consequential amendments to the Financial Conglomerates and Other Financial Groups Regulations 2004

1

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SCHEDULE 6 — Consequential amendments to other secondary legislation

Amendment of the Cash Ratio Deposits (Eligible Liabilities) Order 1998

1

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Amendment of the Cross-Border Credit Transfers Regulations 1999

2

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Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999

3

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Amendment of the Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000

4

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Amendment of the Competition Act 1998 (Determination of Turnover for Penalties) Order 2000

5

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Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

6

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Amendment of the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001

7

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Amendment of the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

8

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Amendment of the Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

9

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Amendment of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001

10

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Amendment of the Financial Services and Markets Act 2000 (Confidential Information) (Bank of England) (Consequential Provisions) Order 2001

11

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Amendment of the Uncertified Securities Regulations 2001

12

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Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002

13

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Amendment of the Enterprise Act 2002 (Merger Fees and Determination of Turnover) Order 2003

14

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Amendment of the Money Laundering Regulations 2003

15

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Amendment of the Conduct of Employment Agencies and Employment Businesses Regulations 2003

16

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Amendment of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004

17

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Amendment of the Building Societies Act 1986 (Modification of the Lending Limit and Funding Limit Calculations) Order 2004

18

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Signed

Dave Watts — Frank Roy — Two Lords Commissioners of Her Majesty's Treasury — 2006-12-04

Explanatory note

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Footnotes

[^f00001]: 1972 c.68. By virtue of the amendment of section 1(2) made by section 1 of the European Economic Area Act 1993 (c. 51) regulations may be made under section 2(2) to implement obligations of the United Kingdom created by or arising under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting that Agreement signed at Brussels on 17th March 1993 (Cm 2183).

[^f00002]: S.I. 2001/3495.

[^f00003]: S.I. 1993/2661.

[^f00004]: 2000 c.8.

[^f00005]: O.J. No L 771, 30.6.2006, p.1.

[^f00006]: O.J. No L 771, 30.6.2006, p.201.

[^f00007]: SI 2001/2509 as amended by SI 2003/2066 and SI 2004/1862.

[^f00008]: S.I. 2001/1420; amended by the Enterprise Act 2002 (c. 40) and S.I. 2005/274.

[^f00009]: S.I. 2004/1862.

[^f00010]: Paragraph 2 was substituted by the Banking Consolidation Directive (Consequential Amendments) Regulations 2000, S.I. 2000/2952.

[^f00011]: Paragraph 5(b) was substituted by S.I. 2000/2952.

[^f00012]: Schedule 11A was inserted by S.I. 2005/1433.

[^f00013]: 1974 c.39; subsection 1C was amended by S.I. 2001/3649.

[^f00014]: 1985 c.5; subsection 2 was amended by S.I. 2001/3649.

[^f00015]: section 262 was amended by S.I. 2000/2952 and S.I. 2002/765.

[^f00016]: section 699A was inserted by S.I. 1992/3179 and amended by S.I. 2000/2952 and S.I. 2002/765.

[^f00017]: 1986 c.53; subsection (2B) was inserted by S.I. 1996/1669 and amended by S.I. 2002/2952 and S.I. 2004/1862.

[^f00018]: 1998 c.11; subsection (7C) was inserted by S.I. 2001/3649 and amended by S.I. 2004/1862.

[^f00019]: 1993 c.36; section 70 was amended by S.I. 2000/2952.

[^f00020]: 2000 c.11; Schedule 3A was inserted by the Anti-terrorism Crime and Security Act 2001 c.24.

[^f00021]: Paragraph 6(1)(g) of Schedule 6 was amended by S.I. 2000/2952.

[^f00022]: 2002 c.29; Schedule 9 was substituted by S.I. 2003/3074.

[^f00023]: S.I. 2004/1862.

[^f00024]: S.I. 1998/1130; as amended by S.I. 2000/2952 and S.I. 2004/1862.

[^f00025]: S.I. 1999/1876.

[^f00026]: S.I. 1999/2979; as amended by S.I. 2000/2952 and S.I. 2002/765.

[^f00027]: S.I. 2000/262; as amended by S.I. 2000/2952 and S.I. 2002/765.

[^f00028]: S.I. 2000/309; as amended by S.I. 2000/2952 and S.I. 2002/765.

[^f00029]: S.I. 2001/544.

[^f00030]: Article 9C2 was inserted by S.I. 2002/682.

[^f00031]: S.I. 2001/1783.

[^f00032]: S.I. 2001/2188.

[^f00033]: S.I. 2001/2511; as amended by S.I. 2002/765.

[^f00034]: S.I. 2001/3084.

[^f00035]: S.I. 2001/3648.

[^f00036]: S.I. 2001/3755.

[^f00037]: S.I. 2002/682.

[^f00038]: S.I. 2003/1370.

[^f00039]: S.I. 2003/3075.

[^f00040]: S.I. 2003/3319.

[^f00041]: S.I. 2004/1045.

[^f00042]: S.I. 2004/3200.

Recognition and application of a decision or joint decision

Exercise of functions under section 148 of the Act for the purpose of applying a decision or a joint decision

The Authority's duties as EEA consolidated supervisor or national consolidated supervisor

Disclosed information

Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

Editorial notes

[^key-0a2069af57145d18d15ebd6da113c601]: Regulations revoked (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), regs. 1(2), 3, Sch. 3

10A

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10B

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12A

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Significant branches

16A

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16B

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16C

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16D

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The Authority’s general duties

16E

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The Bank of England’s general duties

16F

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Disclosed information

Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

7A

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The Authority’s duties in relation to employee remuneration

16G

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Disclosed information

Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

Applications to an appropriate regulator as EEA consolidated supervisor

Applications forwarded to an appropriate regulator as a relevant competent authority

Exercise of functions under section 138A of the Act for the purpose of applying a decision or a joint decision

Duties of an appropriate regulator as an EEA consolidated supervisor

Duties of an appropriate regulator as EEA consolidated supervisor or national consolidated supervisor

General duties of FCA and PRA

The Bank of England’s general duties

The relevant regulator’s duties in relation to employee remuneration

Disclosed information

Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

Functions of the FCA and PRA