The Capital Buffers and Macro-prudential Measures Regulations 2025
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Change 1
17 O-SII buffer rates: the FPC framework
(1) The FPC must establish a framework for O-SII buffer rates in the United Kingdom in accordance with this regulation (“the FPC framework”). (2) The FPC framework must contain the following elements— (a) a set of criteria for assessing the extent to which the failure or distress of a relevant O-SII might pose a risk to the financial system of the United Kingdom, (b) a methodology for measuring those criteria and giving a relevant O-SII a single score in relation to those criteria, and (c) in relation to each score that a relevant O-SII may receive, a buffer rate that corresponds to the score. (3) For the purposes of paragraph (2)(a)— (a) a relevant O-SII is in distress only if it experiences a significant deterioration in its financial situation, and (b) the criteria to be specified must each be— (i) measurable, and (ii) capable of being applied to a relevant O-SII on an individual basis, a sub-consolidated basis and a consolidated basis. (4) The only buffer rates that the FPC may specify for the purposes of paragraph (2)(c) are 0%, 1%, 1.5%, 2%, 2.5% and 3%. (5) The FPC must ensure that the way in which buffer rates correspond to scores in the FPC framework— (a) is clear, precise and unambiguous, (b) ensures that a score corresponds to one buffer rate only, (c) may not be expressed in terms of a discretion conferred on a person or body (including the FPC), and (d) may be expressed by way of a formula, an algorithm, a graph or a table. (6) The Bank must publish each element of the FPC framework, together with the FPC’s justification for each element.
17 O-SII buffer rates: the FPC framework
(1) The FPC must establish a framework for O-SII buffer rates in the United Kingdom in accordance with this regulation (“the FPC framework”). (2) The FPC framework must contain the following elements— (a) a set of criteria for assessing the extent to which the failure or distress of a relevant O-SII might pose a risk to the financial system of the United Kingdom, (b) a methodology for measuring those criteria and giving a relevant O-SII a single score in relation to those criteria, and (c) in relation to each score that a relevant O-SII may receive, a buffer rate that corresponds to the score. (3) For the purposes of paragraph (2)(a)— (a) a relevant O-SII is in distress only if it experiences a significant deterioration in its financial situation, and (b) the criteria to be specified must each be— (i) measurable, and (ii) capable of being applied to a relevant O-SII on an individual basis, a sub-consolidated basis and a consolidated basis. (4) The only buffer rates that the FPC may specify for the purposes of paragraph (2)(c) are 0%, 1%, 1.5%, 2%, 2.5% and 3%. (5) The FPC must ensure that the way in which buffer rates correspond to scores in the FPC framework— (a) is clear, precise and unambiguous, (b) ensures that a score corresponds to one buffer rate only, (c) may not be expressed in terms of a discretion conferred on a person or body (including the FPC), and (d) may be expressed by way of a formula, an algorithm, a graph or a table. (6) The Bank must publish each element of the FPC framework, together with the FPC’s justification for each element.
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