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. (1) These Regulations may be cited as the European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2024. | ||||||
(2) These Regulations come into operation on 1 January 2025. | ||||||
Definition | ||||||
2. In these Regulations, “Principal Regulations” means the European Union (Capital Requirements) (No. 2) Regulations 2014 ( S.I. No. 159 of 2014 ). | ||||||
Amendment of Principal Regulations | ||||||
3. The Principal Regulations are amended – | ||||||
(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. The Central Bank Act 1942 (No. 22 of 1942) is amended – | ||||||
(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: | ||||||
“ | ||||||
| ||||||
”. | ||||||
Amendment of Central Bank Act 1971 | ||||||
5. Section 2 (1) of the Central Bank Act 1971 (No. 24 of 1971) is amended 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 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. The Taxes Consolidation Act 1997 (No. 39 of 1997) is amended – | ||||||
(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. Section 24 (1) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (No. 6 of 2010) is amended 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 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. Regulation 3(1) of the European Communities (Electronic Money) Regulations 2011 ( S.I. No. 183 of 2011 ) is amended 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 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. Regulation 3(1) of the European Union (Capital Requirements) Regulations 2014 ( S.I. No. 158 of 2014 ) is amended 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 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. Regulation 3(1) of the European Union (Bank Recovery and Resolution) Regulations 2015 ( S.I. No. 289 of 2015 ) is amended by the substitution of the following definition for the definition of “Union Capital Requirements Regulation”: | ||||||
“ ‘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. Regulation 3(1) of the European Union (Deposit Guarantee Schemes) Regulations 2015 ( S.I. No. 516 of 2015 ) is amended by the substitution of the following definition for the definition of “Union Capital Requirements Regulation”: | ||||||
“ ‘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 2(1) of the European Union (Payment Services) Regulations 2018 ( S.I. No. 6 of 2018 ) is amended by the substitution of the following definition for the definition of “Regulation (EU) No 575/2013”: | ||||||
“ ‘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. Regulation 2(1) of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023 ( S.I. No. 10 of 2023 ) is amended by the substitution of the following definition for the definition of “Capital Requirement Regulation”: | ||||||
“ ‘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. | ||||||
1 OJ No. L. 176, 27.06.2013. p.1. 3 OJ L, 2024/2795, 31.10.2024. 4 OJ No. L. 176, 27.6. 2013, p. 1. 5 OJ No. L. 11, 17.1.2015, p. 37. 6 OJ No. L. 171, 29.6.2016, p. 153. 7 OJ No. L. 310, 25.11.2017, p. 1. 8 OJ No. L. 345, 27.12.2017, p. 27. 9 OJ No. L. 347, 28.12.2017, p. 1. 10 OJ No. L. 74, 16.3.2018, p. 3. 11 OJ No. L. 111, 25.4.2019, p. 4. 12 OJ No. L. 150, 7.6.2019, p. 1. 13 OJ No. L. 314, 5.12.2019, p. 1. 14 OJ. No. L. 204, 26.6.2020, p. 4. 15 OJ No. L. 84, 11.3.2021, p. 1. 16 OJ No. L. 116, 6.4.2021, p. 25. 17 OJ No. L. 225, 25.6.2021, p. 52. 18 OJ No. L. 275, 25.10.2022, p.1. 19 OJ L, 2023/2869, 20.12.2023. 20 OJ L, 2024/1623, 19.6.2024. 21 OJ L, 2024/2795, 31.10.2024. 22 OJ No. L. 176, 27.6. 2013, p. 1. 23 OJ No. L. 11, 17.1.2015, p. 37. 24 OJ No. L. 171, 29.6.2016, p. 153. 25 OJ No. L. 310, 25.11.2017, p. 1. 26 OJ No. L. 345, 27.12.2017, p. 27. 27 OJ No. L. 347, 28.12.2017, p. 1. 28 OJ No. L. 74, 16.3.2018, p. 3. 29 OJ No. L. 111, 25.4.2019, p. 4. 30 OJ No. L. 150, 7.6.2019, p. 1. 31 OJ No. L. 314, 5.12.2019, p. 1. 32 OJ. No. L. 204, 26.6.2020, p. 4. 33 OJ No. L. 84, 11.3.2021, p. 1. 34 OJ No. L. 116, 6.4.2021, p. 25. 35 OJ No. L. 225, 25.6.2021, p. 52. 36 OJ No. L. 275, 25.10.2022, p.1. 37 OJ L, 2023/2869, 20.12.2023. 38 OJ L, 2024/1623, 19.6.2024. 39 OJ L, 2024/2795, 31.10.2024. 40 OJ No. L. 176, 27.6. 2013, p. 1. 41 OJ No. L. 11, 17.1.2015, p. 37. 42 OJ No. L. 171, 29.6.2016, p. 153. 43 OJ No. L. 310, 25.11.2017, p. 1. 44 OJ No. L. 345, 27.12.2017, p. 27. 45 OJ No. L. 347, 28.12.2017, p. 1. 46 OJ No. L. 74, 16.3.2018, p. 3. 47 OJ No. L. 111, 25.4.2019, p. 4. 48 OJ No. L. 150, 7.6.2019, p. 1. 49 OJ No. L. 314, 5.12.2019, p. 1. 50 OJ. No. L. 204, 26.6.2020, p. 4. 51 OJ No. L. 84, 11.3.2021, p. 1. 52 OJ No. L. 116, 6.4.2021, p. 25. 53 OJ No. L. 225, 25.6.2021, p. 52. 54 OJ No. L. 275, 25.10.2022, p.1. 55 OJ L, 2023/2869, 20.12.2023. 56 OJ L, 2024/1623, 19.6.2024. 57 OJ L, 2024/2795, 31.10.2024. 58 OJ No. L. 176, 27.6. 2013, p. 1. 59 OJ No. L. 11, 17.1.2015, p. 37. 60 OJ No. L. 171, 29.6.2016, p. 153. 61 OJ No. L. 310, 25.11.2017, p. 1. 62 OJ No. L. 345, 27.12.2017, p. 27. 63 OJ No. L. 347, 28.12.2017, p. 1. 64 OJ No. L. 74, 16.3.2018, p. 3. 65 OJ No. L. 111, 25.4.2019, p. 4. 66 OJ No. L. 150, 7.6.2019, p. 1. 67 OJ No. L. 314, 5.12.2019, p. 1. 68 OJ No. L. 204, 26.6.2020, p. 4. 69 OJ No. L. 84, 11.3.2021, p. 1. 70 OJ No. L. 116, 6.4.2021, p. 25. 71 OJ No. L. 225, 25.6.2021, p. 52. 72 OJ No. L. 275, 25.10.2022, p.1. 73 OJ L, 2023/2869, 20.12.2023. 74 OJ L, 2024/1623, 19.6.2024. 75 OJ L, 2024/2795, 31.10.2024. 76 OJ No. L. 176, 27.6. 2013, p. 1. 77 OJ No. L. 11, 17.1.2015, p. 37. 78 OJ No. L. 171, 29.6.2016, p. 153. 79 OJ No. L. 310, 25.11.2017, p. 1. 80 OJ No. L. 345, 27.12.2017, p. 27. 81 OJ No. L. 347, 28.12.2017, p. 1. 82 OJ No. L. 74, 16.3.2018, p. 3. 83 OJ No. L. 111, 25.4.2019, p. 4. 84 OJ No. L. 150, 7.6.2019, p. 1. 85 OJ No. L. 314, 5.12.2019, p. 1. 86 OJ No. L. 204, 26.6.2020, p. 4. 87 OJ No. L. 84, 11.3.2021, p. 1. 88 OJ No. L. 116, 6.4.2021, p. 25. 89 OJ No. L. 225, 25.6.2021, p. 52. 90 OJ No. L. 275, 25.10.2022, p. 1. 91 OJ L, 2023/2869, 20.12.2023. 92 OJ L, 2024/1623, 19.6.2024. 93 OJ L, 2024/2795, 31.10.2024. 94 OJ No. L. 176, 27.6. 2013, p. 1. 95 OJ No. L. 11, 17.1.2015, p. 37. 96 OJ No. L. 171, 29.6.2016, p. 153. 97 OJ No. L. 310, 25.11.2017, p. 1. 98 OJ No. L. 345, 27.12.2017, p. 27. 99 OJ No. L. 347, 28.12.2017, p. 1. 100 OJ No. L. 74, 16.3.2018, p. 3. 101 OJ No. L. 111, 25.4.2019, p. 4. 102 OJ No. L. 150, 7.6.2019, p. 1. 103 OJ No. L. 314, 5.12.2019, p. 1. 104 OJ No. L. 204, 26.6.2020, p. 4. 105 OJ No. L. 84, 11.3.2021, p. 1. 106 OJ No. L. 116, 6.4.2021, p. 25. 107 OJ No. L. 225, 25.6.2021, p. 52. 108 OJ No. L. 275, 25.10.2022, p. 1. 109 OJ L, 2023/2869, 20.12.2023. 110 OJ L, 2024/1623, 19.6.2024. 111 OJ L, 2024/2795, 31.10.2024. 112 OJ No. L. 176, 27.6. 2013, p. 1. 113 OJ No. L. 11, 17.1.2015, p. 37. 114 OJ No. L. 171, 29.6.2016, p. 153. 115 OJ No. L. 310, 25.11.2017, p. 1. 116 OJ No. L. 345, 27.12.2017, p. 27. 117 OJ No. L. 347, 28.12.2017, p. 1. 118 OJ No. L. 74, 16.3.2018, p. 3. 119 OJ No. L. 111, 25.4.2019, p. 4. 120 OJ No. L. 150, 7.6.2019, p. 1. 121 OJ No. L. 314, 5.12.2019, p. 1. 122 OJ No. L. 204, 26.6.2020, p. 4. 123 OJ No. L. 84, 11.3.2021, p. 1. 124 OJ No. L. 116, 6.4.2021, p. 25. 125 OJ No. L. 225, 25.6.2021, p. 52. 126 OJ No. L. 275, 25.10.2022, p.1. 127 OJ L, 2023/2869, 20.12.2023. 128 OJ L, 2024/1623, 19.6.2024. 129 OJ L, 2024/2795, 31.10.2024. 130 OJ No. L. 176, 27.6. 2013, p. 1. 131 OJ No. L. 11, 17.1.2015, p. 37. 132 OJ No. L. 171, 29.6.2016, p. 153. 133 OJ No. L. 310, 25.11.2017, p. 1. 134 OJ No. L. 345, 27.12.2017, p. 27. 135 OJ No. L. 347, 28.12.2017, p. 1. 136 OJ No. L. 74, 16.3.2018, p. 3. 137 OJ No. L. 111, 25.4.2019, p. 4. 138 OJ No. L. 150, 7.6.2019, p. 1. 139 OJ No. L. 314, 5.12.2019, p. 1. 140 OJ No. L. 204, 26.6.2020, p. 4. 141 OJ No. L. 84, 11.3.2021, p. 1. 142 OJ No. L. 116, 6.4.2021, p. 25. 143 OJ No. L. 225, 25.6.2021, p. 52. 144 OJ No. L. 275, 25.10.2022, p.1. 145 OJ L, 2023/2869, 20.12.2023. 146 OJ L, 2024/1623, 19.6.2024. 147 OJ L, 2024/2795, 31.10.2024. 148 OJ No. L. 176, 27.6. 2013, p. 1. 149 OJ No. L. 11, 17.1.2015, p. 37. 150 OJ No. L. 171, 29.6.2016, p. 153. 151 OJ No. L. 310, 25.11.2017, p. 1. 152 OJ No. L. 345, 27.12.2017, p. 27. 153 OJ No. L. 347, 28.12.2017, p. 1. 154 OJ No. L. 74, 16.3.2018, p. 3. 155 OJ No. L. 111, 25.4.2019, p. 4. 156 OJ No. L. 150, 7.6.2019, p. 1. 157 OJ No. L. 314, 5.12.2019, p. 1. 158 OJ. No. L. 204, 26.6.2020, p. 4. 159 OJ No. L. 84, 11.3.2021, p. 1. 160 OJ No. L. 116, 6.4.2021, p. 25. 161 OJ No. L. 225, 25.6.2021, p. 52. 162 OJ No. L. 275, 25.10.2022, p. 1. 163 OJ L, 2023/2869, 20.12.2023. 164 OJ L, 2024/1623, 19.6.2024. 165 OJ L, 2024/2795, 31.10.2024. 166 OJ No. L. 176, 27.6. 2013, p. 1. 167 OJ No. L. 11, 17.1.2015, p. 37. 168 OJ No. L. 171, 29.6.2016, p. 153. 169 OJ No. L. 310, 25.11.2017, p. 1. 170 OJ No. L. 345, 27.12.2017, p. 27. 171 OJ No. L. 347, 28.12.2017, p. 1. 172 OJ No. L. 74, 16.3.2018, p. 3. 173 OJ No. L. 111, 25.4.2019, p. 4. 174 OJ No. L. 150, 7.6.2019, p. 1. 175 OJ No. L. 314, 5.12.2019, p. 1. 176 OJ No. L. 204, 26.6.2020, p. 4. 177 OJ No. L. 84, 11.3.2021, p. 1. 178 OJ No. L. 116, 6.4.2021, p. 25. 179 OJ No. L. 225, 25.6.2021, p. 52. 180 OJ No. L. 275, 25.10.2022, p. 1. 181 OJ L, 2023/2869, 20.12.2023. 182 OJ L, 2024/1623, 19.6.2024. 183 OJ L, 2024/2795, 31.10.2024. 184 OJ No. L. 176, 27.6. 2013, p. 1. 185 OJ No. L. 11, 17.1.2015, p. 37. 186 OJ No. L. 171, 29.6.2016, p. 153. 187 OJ No. L. 310, 25.11.2017, p. 1. 188 OJ No. L. 345, 27.12.2017, p. 27. 189 OJ No. L. 347, 28.12.2017, p. 1. 190 OJ No. L. 74, 16.3.2018, p. 3. 191 OJ No. L. 111, 25.4.2019, p. 4. 192 OJ No. L. 150, 7.6.2019, p. 1. 193 OJ No. L. 314, 5.12.2019, p. 1. 194 OJ. No. L. 204, 26.6.2020, p. 4. 195 OJ No. L. 84, 11.3.2021, p. 1. 196 OJ No. L. 116, 6.4.2021, p. 25. 197 OJ No. L. 225, 25.6.2021, p. 52. 198 OJ No. L. 275, 25.10.2022, p.1. 199 OJ L, 2023/2869, 20.12.2023. 200 OJ L, 2024/1623, 19.6.2024. 201 OJ L, 2024/2795, 31.10.2024. 202 OJ No. L. 176, 27.6. 2013, p. 1. 203 OJ No. L. 11, 17.1.2015, p. 37. 204 OJ No. L. 171, 29.6.2016, p. 153. 205 OJ No. L. 310, 25.11.2017, p. 1. 206 OJ No. L. 345, 27.12.2017, p. 27. 207 OJ No. L. 347, 28.12.2017, p. 1. 208 OJ No. L. 74, 16.3.2018, p. 3. 209 OJ No. L. 111, 25.4.2019, p. 4. 210 OJ No. L. 150, 7.6.2019, p. 1. 211 OJ No. L. 314, 5.12.2019, p. 1. 212 OJ No. L. 204, 26.6.2020, p. 4. 213 OJ No. L. 84, 11.3.2021, p. 1. 214 OJ No. L. 116, 6.4.2021, p. 25. 215 OJ No. L. 225, 25.6.2021, p. 52. 216 OJ No. L. 275, 25.10.2022, p.1. 217 OJ L, 2023/2869, 20.12.2023. |
