Capital Buffer Regulation Kp-V

Original Language Title: Kapitalpuffer-Verordnung – KP-V

Read the untranslated law here: https://www.global-regulation.com/law/austria/2995984/kapitalpuffer-verordnung--kp-v.html

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435 regulation of the financial market authority (FMA) on the establishment and recognition of the countercyclical capital buffer rate, on the establishment of the system risk buffer and the more detailed form the basis of calculation in accordance with Section 23a para 3 Z 1 BWG and section 24 para 2 BWG (capital buffer regulation KP-V)

On the basis of Section 23a subsection 3, Section 23d subsection 3 and section 24 para 2 of the law on banking - Banking Act, BGBl. No. 532/1993, I no. 117/2015, is amended by the Federal Act Federal Law Gazette - concerning Article 23a para. 3 and article 23d para. 3 Banking Act with the consent of the Federal Minister for finance - prescribed:

1 section

General regulations

Purpose

§ 1. This regulation serves the definition and recognition of the countercyclical capital buffer in accordance with § 23a para. 3 Banking Act, establishing the system risk buffer according to article 23d para. 3 Banking Act, as well as the further design of the bases for the calculation of the maximum non-distributable amount in accordance with article 141 para 4 of Directive 2013/36/EC in accordance with § 24 para 2 BWG. The regulation implements the recommendations of the financial market stability Panel (FMSG) and takes into account the next statements of the OeNB.

Scope of application

§ 2 (1) of 2. is section (capital buffer requirement for the countercyclical capital buffer) to apply Banking Act on credit institutions referred to in article 1, paragraph 1, provided that these not according to § 3 BWG or section 30a para 6 Banking Act in conjunction with article 10 of Regulation (EU) No. 575/2013 on supervision requirements for credit institutions and investment firms and for amending the Regulation (EU) No. 648/2012, OJ No L 176 of the 27.06.2013 p. 1, last amended by the delegated Regulation (EU) 2015/62, OJ No. L 11 of the 17.01.2015 p. 37, adherence to Section 23a of the BWG are excluded.

(2) the 3rd section (capital buffer requirement for the system risk buffer) is to apply to the credit institutions referred to in § 7 of this regulation specifically.

(3) the 4th section (distribution restrictions) is to apply Banking Act on credit institutions referred to in article 1, paragraph 1, provided that this not according to § 3 BWG or section 30a para 6 Banking Act in conjunction with article 10 of Regulation (EU) No. 575/2013 adherence to the section 24 excluded BWG.

Definitions

§ 3. For the purposes of this regulation, the following definitions shall apply:



1. systemic risk: systemic risk in accordance with § 2 Z 41 BWG.

2. capital buffer requirement for Systemrelevante institutions: capital buffer requirement in accordance with § 2 Z 43 BWG;

3. capital buffer requirement for global Systemrelevante Institute: capital buffer requirement in accordance with § 2 Z 44 BWG;

4. capital buffer requirement for the countercyclical capital buffer: capital buffer requirement in accordance with § 2 Z 44a BWG;

5. capital buffer requirement for the system risk buffers: capital buffer requirement in accordance with § 2 Z 44 b BWG;

6 combined capital buffer quota: capital buffer requirement in accordance with § 2 Z 45 BWG expressed as a percentage of the referred to in article 92 (3) of Regulation (EU) No. 575/2013 calculated total amount of risk;

7 systemic vulnerability: increased vulnerability of one or more credit institutions compared to errors in the financial system or parts thereof due to the interdependence of the or that credit institutions with other market participants or the financial system generally;

8 systemic concentration risk: risk that resulted from substantial similar risk positions of the credit economy and due to this similarity in several banks can cause, which can have serious negative effects on the financial system and the real economy.

2. section

Capital buffer requirement for the countercyclical capital buffer

Determination of the capital buffer requirement

4. (1) evaluates the Institute-specific request for the countercyclical capital buffer in accordance with Article 23a para. 1 BWG is a weighted average of the rates of the countercyclical capital buffer, in the Member States and third countries multiplied by paragraph 3 of the Regulation (EU) No. 575 apply where the significant credit risk positions in accordance with § 5 of the credit institution are located, the total amount of risk in accordance with article 92 / 2013.

(2) for the calculation of the weighted average referred to in paragraph 1 which is from each of the competent authorities of the respective Member State or the respective third country to multiply fixed odds for the countercyclical capital buffer with the quotient, the juxtaposition of the pursuant to part 3 titles II and IV of Regulation (EU) No. 575/2013 determined total capital requirements to underpin the main credit risk positions in the Member State concerned or in the third country concerned and the total capital requirements to underpin credit risk of all results in significant credit risk positions.

(3) for the purposes of Section 23a subsection 3 Z, the capital buffer quota for substantial credit risk positions situated in Germany 0 2 BWG is % from 1 January 2016.

(4) if by the competent authorities of another Member State or a third country for their Member State or for their third country a quota set by over 2.5%, a ratio of 2.5% is for the purposes of paragraph 1 for substantial credit risk positions in that Member State or third country to attract.

(5) a competent authority of the third country shall determine a national rate of buffer, these twelve months shall apply after the date on which the competent authority of the third country has announced a change in the rate of buffer.

Significant credit risk positions

5. (1) for the purposes of section 4 which are in all risk position classes, with the exception in article 112 letters a to f or art. 147 para 2 points (a) and (b) of Regulation (EU) to handle no. 575 / 2013 referred, contained credit risk positions as essential, as far as for these the following applies:



1. you are subject to the capital adequacy requirements for credit risks pursuant to part 3 title II of Regulation (EU) No. 575/2013;

2. is held the position of risk in the trading book, are the equity capital requirements for specific risk pursuant to part 3 title IV, Chapter 2, or for the additional default and migration risk according to part 3 title IV, Chapter 5 of the Regulation (EU) No. 575/2013 apply.

3. is the exposure to a securitisation, so the capital adequacy requirements referred to in part 3 title II, Chapter 5 of the Regulation (EU) No. 575/2013 application.

(2) the courts of a significant credit risk position is the delegated Regulation (EU) No. 1152/2014, OJ No. L 309 of the 30.10.2014 p. 5, to determine.

3. section

Capital buffer requirement for the system risk buffer

Determination of the capital buffer requirement

§ 6. For the purposes of Section 23d para 3 Z 1 and 2 BWG is the capital buffer requirement for the system risk buffer on the basis of the consolidated position to determine and results (3) of Regulation (EU) No. 575 / 2013 calculated total amount of risk from the multiplication of the total of the quotas laid down in article 7, paragraph 1 and 2 for each known institution with the according to article 92.

Ratio of the capital buffer requirement for the system risk buffer

§ 7 (1) is the rate of capital buffers for systemic vulnerabilities in accordance with article 133 of Directive 2013/36/EC:



1. of the BAWAG P.S.K. Bank für Arbeit and Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft on the basis of the consolidated 1%; location of Promontoria Sacher holding N.V.

2. for the erste Group Bank AG 1%;

3. for the HYPO NÖ Group Bank Ltd. 1%;

4. for the HYPO TIROL BANK AG on the basis of the consolidated 1%; location of Landes - Hypothekenbank Tirol share management

5. for the Upper Austrian Landesbank Aktiengesellschaft 1%;

6. for the Raiffeisen Bank International AG 1%;

7. for the Raiffeisen Central Bank Austria Aktiengesellschaft 1%;

8. for the Raiffeisenlandesbank NIEDERÖSTERREICH-WIEN AG on the basis of the consolidated position of RAIFFEISEN-HOLDING NIEDERÖSTERREICH-WIEN, cooperative society with limited liability registered 1%;

9. for the Raiffeisenlandesbank Oberösterreich Aktiengesellschaft on the basis of the consolidated position of the Raiffeisen Banking Group Upper Austria Federation eGen 1%;

10. for UniCredit Bank Austria AG 1%;

11 for the Vorarlberger Landes - und Hypothekenbank Aktiengesellschaft on base of the consolidated position of the Vorarlberg State Bank holding company 1%.

(2) the rate of capital buffers for the systemic concentration risk is pursuant to article 133 of Directive 2013/36/EC:



1. for the erste Group Bank AG 1%;

2. for the Raiffeisen Bank International AG 1%;

3. for the Raiffeisen Central Bank Austria Aktiengesellschaft 1%;

4. for the Sberbank Europe AG 1%;

5. for UniCredit Bank Austria AG 1%.

4 section

Distribution restrictions

Determination of the maximum non-distributable amount

Section 8 (1) pursuant to article 141 is paragraph 4 of Directive 2013/36/EC for the purposes of section 24 para 2 last by multiplying the sum determined pursuant to subsection 2 by the factor established in accordance with paragraph 3 to calculate subparagraph BWG the maximum distributable amount. After calculation of the maximum non-distributable amount measures pursuant to § 24 para 2 1 to 3 BWG used Z, these reduce the distributable amount.

(2) the sum referred to in paragraph 1 to multiply includes:



1.

Interim profits, in accordance with article 26 paragraph 2 of Regulation (EU) No. 575/2013 in conjunction with § 21 of the CRR accompanying regulation, Federal Law Gazette II No. 425/2013, not the hard core funds were allocated and since the last decision on profit distribution or one of the measures referred to in article 24 para 2, Z; generates 1 to 3 BWG

plus



2. the profits to the end of the year, which in accordance with article 26 paragraph 2 of Regulation (EU) No. 575/2013 in conjunction with § 21 of the CRR accompanying regulation were attributed to not the hard core capital and since the last decision on profit distribution or one of the measures referred to in article 24 para 2, Z; generates 1 to 3 BWG

minus



3. the amounts which would be paid in the form of tax if the gains would be retained after the Nos. 1 and 2.

(3) the factor referred to in paragraph 1 is determined as follows: is the held and neither to the adequacy of the capital adequacy requirements referred to in article 92 para. 1 (c) of Regulation (EU) No. 575/2013 to the position of any additional own funds requirement pursuant to section 70 para 4 a Z 1 BWG or article 16 para 2 of Regulation (EU) No. of 1024/2013 to transfer special tasks in connection with the supervision of credit institutions on the European Central Bank , OJ No. L 287 of the 29.10.2013 p. 63, used hard core capital, expressed as a percentage of the referred to in article 92 (3) of Regulation (EU) No. 575/2013 calculated total amount of risk,



1. greater than zero and less than a quarter of the combined rate of capital buffers, so is the factor of 0.

2. greater or equal to a quarter of the combined rate of capital buffers and less than two quarters the combined capital buffer requirement, the factor 0.2; shall

3. greater than or equal to two quarters the combined rate of capital buffers and less than three-quarters of the combined capital buffer requirement, the factor 0.4; shall

4. greater or equal to three-quarters of the combined rate of capital buffers and smaller than the combined capital buffer requirement, the factor 0.6 is so.

5. section

Transitional and final provisions

Entry into force

§ 9. This Regulation shall enter into force 1 January 2016.

Transitional provision for the system risk buffer

§ 10. For credit institutions, that paragraph 4 of the Regulation (EU) No. 1024/2013 from the European Central Bank in accordance with article 6 are supervised, is the total of the quotas for the period laid down in article 7, paragraph 1 and 2 for the each called credit institutions



1. from 1 January to 31 December 2016 at 0.25%, 2. from 1 January to 31 December 2017 with 0.5%, 3rd from 1 January until 31 December 2018 with 1% limit.

Ettl Kumpf Müller