The Capital Buffers and Macro-prudential Measures Regulations 2025
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18 Determination by PRA of buffer rates for individual relevant O-SII
(1) The PRA may, in relation to each relevant O-SII, determine— (a) whether or not to set a buffer rate for the relevant O-SII, and (b) where it sets a buffer rate, the level of the rate, by applying the steps set out in paragraph (2). (2) The steps set out in this paragraph are— Step 1: determining the level of consolidation The PRA must choose one of the following bases on which to apply the criteria specified in the FPC framework to the relevant O-SII— an individual basis, a sub-consolidated basis, or a consolidated basis. Step 2: deriving a framework buffer rate from the FPC framework The PRA must derive a buffer rate from the FPC framework for the relevant O-SII (“a framework buffer rate”) by— applying the methodology of the FPC framework to obtain a score for the relevant O-SII, and ascertaining to what buffer rate the score corresponds under the FPC framework. Step 3: setting a buffer rate for a relevant O-SII based on supervisory judgment The PRA may, if it makes a supervisory judgment that it is appropriate to do so— set a buffer rate for a relevant O-SII, even if it has derived a framework buffer rate for the institution of 0% under Step 2, set a buffer rate for a relevant O-SII which is different to the framework buffer rate derived for the institution under Step 2, or set no buffer rate for a relevant O-SII, even if it has derived a framework buffer rate for the institution of other than 0% under Step 2. Step 4: setting a buffer rate for relevant O-SIIs based on framework buffer rate Unless the PRA exercises the discretion in Step 3— where the PRA derives a framework buffer rate under Step 2 of 0% for the relevant O-SII, the PRA may not set a buffer rate for the institution, and where the PRA derives a framework buffer rate under Step 2 other than 0% for the relevant O-SII, the PRA must set the rate so derived as the buffer rate for the institution. (3) Where the PRA sets a buffer rate under paragraph (a) or (b) of Step 3 of this regulation, the rate must be 1%, 1.5%, 2%, 2.5% or 3%.
18 Determination by PRA of buffer rates for individual relevant O-SII
(1) The PRA may, in relation to each relevant O-SII, determine— (a) whether or not to set a buffer rate for the relevant O-SII, and (b) where it sets a buffer rate, the level of the rate, by applying the steps set out in paragraph (2). (2) The steps set out in this paragraph are— Step 1: determining the level of consolidation The PRA must choose one of the following bases on which to apply the criteria specified in the FPC framework to the relevant O-SII— an individual basis, a sub-consolidated basis, or a consolidated basis. Step 2: deriving a framework buffer rate from the FPC framework The PRA must derive a buffer rate from the FPC framework for the relevant O-SII (“a framework buffer rate”) by— applying the methodology of the FPC framework to obtain a score for the relevant O-SII, and ascertaining to what buffer rate the score corresponds under the FPC framework. Step 3: setting a buffer rate for a relevant O-SII based on supervisory judgment The PRA may, if it makes a supervisory judgment that it is appropriate to do so— set a buffer rate for a relevant O-SII, even if it has derived a framework buffer rate for the institution of 0% under Step 2, set a buffer rate for a relevant O-SII which is different to the framework buffer rate derived for the institution under Step 2, or set no buffer rate for a relevant O-SII, even if it has derived a framework buffer rate for the institution of other than 0% under Step 2. Step 4: setting a buffer rate for relevant O-SIIs based on framework buffer rate Unless the PRA exercises the discretion in Step 3— where the PRA derives a framework buffer rate under Step 2 of 0% for the relevant O-SII, the PRA may not set a buffer rate for the institution, and where the PRA derives a framework buffer rate under Step 2 other than 0% for the relevant O-SII, the PRA must set the rate so derived as the buffer rate for the institution. (3) Where the PRA sets a buffer rate under paragraph (a) or (b) of Step 3 of this regulation, the rate must be 1%, 1.5%, 2%, 2.5% or 3%.
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