The Capital Buffers and Macro-prudential Measures Regulations 2025
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Change 1
3 Interpretation of Part 2
(1) In this Part— “institution-specific countercyclical capital buffer” means— in relation to a PRA-authorised person, the countercyclical capital buffer that the person must calculate (if any) in accordance with the Capital Buffers Part of the PRA Rulebook; in relation to a parent financial holding company or a parent mixed financial holding company, the countercyclical capital buffer which the holding company must calculate (if any) in accordance with the Capital Buffers Part of the PRA Rulebook; “overseas regulator” means an authority in a country or territory outside the United Kingdom which has functions corresponding to those of the FPC under this Part; “parent financial holding company” has the meaning given in section 192O(2) (interpretation) of FSMA 2000; “parent mixed financial holding company” has the meaning given in section 192O(2) (interpretation) of FSMA 2000; “UK institution” means an institution with permission to carry on a regulated activity under Part 4A (permission to carry on regulated activities) of FSMA 2000. (2) For the purposes of the definition of “institution-specific countercyclical capital buffer” in paragraph (1)— “PRA-authorised person” has the meaning given in section 2B(5) (the PRA’s general objective) of FSMA 2000; “PRA Rulebook” means the Rulebook published by the PRA containing rules made by that Authority under FSMA 2000 as those rules have effect from time to time.
3 Interpretation of Part 2
(1) In this Part— “institution-specific countercyclical capital buffer” means— in relation to a PRA-authorised person, the countercyclical capital buffer that the person must calculate (if any) in accordance with the Capital Buffers Part of the PRA Rulebook; in relation to a parent financial holding company or a parent mixed financial holding company, the countercyclical capital buffer which the holding company must calculate (if any) in accordance with the Capital Buffers Part of the PRA Rulebook; “overseas regulator” means an authority in a country or territory outside the United Kingdom which has functions corresponding to those of the FPC under this Part; “parent financial holding company” has the meaning given in section 192O(2) (interpretation) of FSMA 2000; “parent mixed financial holding company” has the meaning given in section 192O(2) (interpretation) of FSMA 2000; “UK institution” means an institution with permission to carry on a regulated activity under Part 4A (permission to carry on regulated activities) of FSMA 2000. (2) For the purposes of the definition of “institution-specific countercyclical capital buffer” in paragraph (1)— “PRA-authorised person” has the meaning given in section 2B(5) (the PRA’s general objective) of FSMA 2000; “PRA Rulebook” means the Rulebook published by the PRA containing rules made by that Authority under FSMA 2000 as those rules have effect from time to time.
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