European Commission 7 January 2014, Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions Text with EEA relevance

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European Union · · · Cited by 270 · 07-01-2014

CHAPTER I. GENERAL
Article 1. Subject matter
CHAPTER II. ELEMENTS OF OWN FUNDS
SECTION 1. Common Equity Tier 1 capital and instruments
Subsection 1. Foreseeable dividends and charges
Article 2. Meaning of ‘foreseeable’ in foreseeable dividend for the purposes of Article 26(2)(b) of Regulation (EU) No 575/2013
Article 3. Meaning of ‘foreseeable’ in foreseeable charge for the purposes of Article 26(2)(b) of Regulation (EU) No 575/2013
Subsection 2. Cooperative societies, savings institutions, mutuals and similar institutions
Article 4. Type of undertaking recognised under applicable national law as a cooperative society for the purposes of Article 27(1)(a)(ii) of Regulation (EU) No 575/2013
Article 5. Type of undertaking recognised under applicable national law as a savings institution for the purposes of Article 27(1)(a)(iii) of Regulation (EU) No 575/2013
Article 6. Type of undertaking recognised under applicable national law as a mutual for the purposes of Article 27(1)(a)(i) of Regulation (EU) No 575/2013
Article 7. Type of undertaking recognised under applicable national law as a similar institution for the purposes of Article 27(1)(a)(iv) of Regulation (EU) No 575/2013
Subsection 3. Indirect funding
Article 8. Indirect funding of capital instruments for the purposes of Article 28(1)(b,) Article 52(1)(c) and Article 63(c) of Regulation (EU) No 575/2013
Article 9. Applicable forms and nature of indirect funding of capital instruments for the purposes of Article 28(1)(b) and 52(1)(c) and 63(c) of Regulation (EU) No 575/2013
Subsection 4. Limitations on redemption of capital instruments
Article 10. Limitations on redemption of capital instruments issued by mutuals, savings institutions, cooperative societies and similar institutions for the purposes of Article 29(2)(b) of Regulation (EU) No 575/2013 and Article 78(3) of Regulation (EU) No 575/2013
Article 11. Limitations on redemption of capital instruments issued by mutuals, savings institutions, cooperative societies and similar institutions for the purposes of Article 29(2)(b) of Regulation (EU) No 575/2013 and Article 78(3) of Regulation (EU) No 575/2013
SECTION 2. Prudential Filters
Article 12. The concept of gain on sale for the purposes of Article 32(1)(a) of Regulation (EU) No 575/2013
SECTION 3. Deductions from Common Equity Tier 1 items
Article 13. Deduction of losses for the current financial year for the purposes of Article 36(1)(a) of Regulation (EU) No 575/2013
Article 14. Deductions of deferred tax assets that rely on future profitability for the purposes of Article 36(1)(c) of Regulation (EU) No 575/2013
Article 15. Deduction of defined benefit pension fund assets for the purposes of Article 36(1)(e) of Regulation (EU) No 575/2013 and Article 41(1)(b) of Regulation (EU) No 575/2013
Article 16. Deductions of foreseeable tax charges for the purposes of Article 36(1)(l) and Article 56(f) of Regulation (EU) No 575/2013
SECTION 4. Other deductions for Common Equity Tier 1, additional Tier 1 and Tier 2 items
Article 17. Other deductions for capital instruments of financial institutions for the purposes of Article 36(3) of Regulation (EU) No 575/2013
Article 18. Capital instruments of third country insurance and reinsurance undertakings for the purposes of Article 36(3) of Regulation (EU) No 575/2013
Article 19. Capital instruments of undertakings excluded from the scope of Directive 2009/138/EC for the purposes of Article 36(3) of Regulation (EU) No 575/2013
CHAPTER III. ADDITIONAL TIER 1 CAPITAL
SECTION 1. Form and nature of incentives to redeem
Article 20. Form and nature of incentives to redeem for the purposes of Article 52(1)(g) and 63(h)of Regulation (EU) No 575/2013
SECTION 2. Conversion or write-down of the principal amount
Article 21. Nature of the write-up of the principal amount following a write-down for the purposes of Article 52(1)(n) and Article 52(2)(c)(ii) of Regulation (EU) No 575/2013
Article 22. Procedures and timing for determining that a trigger event has occurred for the purposes of Article 52(1)(n) of Regulation (EU) No 575/2013
SECTION 3. Features of instruments that could hinder recapitalisation
Article 23. Features of instruments that could hinder recapitalisation for the purposes of Article 52(1)(o) of Regulation (EU) No 575/2013
SECTION 4. Use of special purposes entities for indirect issuance of own funds instruments
Article 24. Use of special purposes entities for indirect issuance of own funds instruments for the purposes of Article 52(1)(p) and Article 63(n) of Regulation (EU) No 575/2013
CHAPTER IV. GENERAL REQUIREMENTS
SECTION 1. Indirect holdings arising from index holdings
Article 25. Extent of conservatism required in estimates for calculating exposures used as an alternative to the underlying exposures for the purposes of Article 76(2) of Regulation (EU) No 575/2013
Article 26. Meaning of operationally burdensome in Article 76(3) of Regulation (EU) No 575/2013
SECTION 2. Supervisory permission for reducing own funds
Article 27. Meaning of sustainable for the income capacity of the institution for the purposes of Article 78(1)(a) of Regulation (EU) No 575/2013
Article 28. Process and data requirements for an application by an institution to carry out redemptions, reductions and repurchases — for the purposes of Article 77 of Regulation (EU) No 575/2013
Article 29. Submission of application by the institution to carry out redemptions, reductions and repurchases for the purposes of Article 77 and Article 78 of Regulation (EU) No 575/2013 and appropriate bases of limitation of redemption for the purposes of paragraph 3 of Article 78 of Regulation (EU) No 575/2013
Article 30. Content of the application to be submitted by the institution for the purposes of Article 77 of Regulation (EU) No 575/2013
Article 31. Timing of the application to be submitted by the institution and processing of the application by the competent authority for the purposes of Article 77 of Regulation (EU) No 575/2013
Article 32. Applications for redemptions, reductions and repurchases by mutuals, cooperative societies, savings institutions or similar institutions for the purposes of Article 77 of Regulation (EU) No 575/2013
SECTION 3. Temporary waiver from deduction from own funds
Article 33. Temporary waiver from deduction from own funds for the purposes of Article 79(1) of Regulation (EU) No 575/2013
CHAPTER V. MINORITY INTEREST AND ADDITIONAL TIER 1 AND TIER 2 INSTRUMENTS ISSUED BY SUBSIDIARIES
Article 34. The type of assets that can relate to the operation of special purpose entities and meaning of minimal and insignificant regarding qualifying Additional Tier 1 and Tier 2 capital issued by special purpose entities for the purposes of Article 83(1) of Regulation (EU) No 575/2013
CHAPTER VI. SPECIFICATION OF THE TRANSITIONAL PROVISIONS OF REGULATION (EU) No 575/2013 IN RELATION TO OWN FUNDS
Article 35. Additional filters and deductions for the purposes of Article 481(1) of Regulation (EU) No 575/2013
Article 36. Items excluded from grandfathering of capital instruments not consituting state aid in Common Equity Tier 1 or Additional Tier 1 items in other elements of own funds for the purposes of Article 487(1) and (2) of Regulation (EU) No 575/2013
Article 37.

14.3.2014

Official Journal of the European Union

L 74/8

COMMISSION DELEGATED REGULATION (EU) No 241/2014

of 7 January 2014

supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the

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