Regulation (2014:993) On Special Supervision And Capital Buffers

Original Language Title: Förordning (2014:993) om särskild tillsyn och kapitalbuffertar

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2014:993

Introductory provisions



Article 1 this regulation lays down provisions supplementing

Act (2014:968) if special supervision of credit institutions and

securities companies and the law (2014:966) on capital buffers.



paragraph 2 of this regulation means



1. "competent authority" means the Swedish financial supervisory authority or another

authority within the European economic area (EEA)

supervising institution, Institute for electronic

money or the equivalent foreign companies,



2. the solvency directive: European Parliament and Council

Directive of the EUROPEAN UNION for permission to

the activity of credit institutions and the prudential supervision of

credit institutions and investment firms, amending

Directive 2002/87/EC and repealing Directive 2006/48/EC

and 2006/49/EC, in the original wording, and



3. prudential regulation: European Parliament and Council

Regulation (EC) no 575/2013 of 26 June

prudential requirements for credit institutions and investment firms and

amending Regulation (EU) No 648/2012.



Terms and expressions as used in this regulation

has the same meaning as in the Act (2014:968) on special

supervision of credit institutions and securities companies and the law

(2014:966) on capital buffers. Regulation (2015:181).



Information from the FSA



Information which the financial supervision authority shall provide



paragraph 3 of the financial supervision authority shall provide on its website



1. the laws and regulations and general advice

decided to implement the capital adequacy directive,



2. information on the extent to which the options

see the solvency directive have been used,



3. the general criteria and methodologies used by the

the review and evaluation process under section 9,



4. aggregated statistical data on the number of institutions,

capital requirements and other key aspects of the supervision

of institutions,



5. the information referred to in article 144 of the

the capital adequacy directive relating to the application of certain

provisions of prudential regulation, and



6. the information to be disclosed in accordance with articles

68, 131.12, 133.16 and 143(1) d in

the capital adequacy directive. Regulation (2015:181).



paragraph 4 of the financial supervision authority shall endeavour to provide

the information referred to in paragraph 3 of the 1 – 4 in a way that makes it

possible to compare the approach chosen in the

Sweden with the approach that the competent

authorities of other Member States have chosen. Information

shall be made publicly available in a common format and updated

on a regular basis.



section 5 of The regulations and general advice to be provided

on the website according to section 3 1, Financial inspections at

needs translate into English. Regulation (2015:181).



List of financial holding companies and mixed

financial holding companies



paragraph 6 of the financial supervision authority shall maintain a list of such

financial holding companies and mixed financial

holding companies referred to in article 11 of the prudential regulation.

The list shall be communicated to other competent authorities,

The European Commission and the European banking authority. At

any change to a new list.



Notifications to the European institutions



section 7 of the financial supervision authority shall inform the Commission of the European

the Commission, the European systemic risk Board, European

banking authority and the Council of the European Union in the

extent permitted by the capital adequacy directive.



Its relation to the public

the legal information system



section 8 of The information to be found on the FSA's

website under this Regulation shall be kept separate from the

some of the content in the public information system

According to information Ordinance (1999:175)

the Inspectorate is responsible for.



The Swedish financial supervisory authority



paragraph 9 of the financial supervision authority shall, in its supervision comply with the

provisions for the review and evaluation process contained in

Articles 97 to 101 in the capital adequacy directive.



International agreements



paragraph 10 of the financial supervision authority may conclude such international

agreements under article 115.1 in

the capital adequacy directive. However, this does not apply if

the agreement requires parliamentary or Utrikesnämndens

participation.



Cooperation with other competent authorities



section 11 of the financial supervision authority shall make use of the European

the Authority's central database at the aptitude examination

According to Chapter 3. 2 § 4 Act (2004:297) on banking and

finance law, Chapter 3. 1 § 5 Act (2007:528)

securities market and Chapter 3. section 5 of the Act (2014:968) if

special supervision of credit institutions and securities companies.



section 12 of the financial supervision authority shall, in the preparation of such a

supervisory examination programmes referred to in article 99 in

capital adequacy directive take into account the information provided

by the competent authorities of a host Member State if the results

in case of control and inspection of an institution's branch in the

the country.



13 § When the FSA decides on capital buffer for

other systemically important institutions, the supervisory authority to take into account that

the buffer must not cause disproportionate negative effects

in all or parts of the financial system in other

countries in the EEA or in the EEA as a whole, nor may

constitute or create a barrier to the single market

function.



The financial supervision authority shall at least once every year

of the capital buffer for other systemically important institutions.



The financial supervision authority shall annually revise the identification of

Global systemically important institutions and other systemically important

institutions, and the global positioning system important institutions

in subcategories.



section 14 If the FSA decides on systemic risk buffer for

other systemically important institutions, the supervisory authority to take into account that

the buffer must not cause disproportionate negative effects

in all or parts of the financial system in other

countries in the EEA or in the EEA as a whole, nor may

constitute or create a barrier to the single market

function.



The financial supervision authority shall at least once every year

of systemic risk buffer for other systemically important institutions.



section 15 of the financial supervision authority shall, where a decision on the recognition of

systemriskbuffertvärde another country pursuant to Chapter 4. 7 §

Act (2014:966) on capital buffers, take into account information

submitted by that country.



The financial supervision authority may invite the European systemic risk Board

to issue a recommendation in accordance with article 16 of the

Regulation (EU) no 1092/2010 to one or more countries

can recognize one of the Swedish financial supervisory authority established

systemriskbuffertvärde.



Appropriations



Appropriations under the Act (2014:968) if special supervision

of credit institutions and securities companies



section 16 of the financial supervision authority may provide that

complement to prudential regulation of



1. public disclosure and supervisory reporting,



2. the calculation of the own funds requirement and the own funds,



3. large exposures



4. exposures in real estate,



5. covered bonds,



6. liquidity requirements,



7. internal models for market risks,



8. the standard method for market risks,



9. the standardised approach to credit risk,



10. Irb approach to credit risk,



11. counterparty risk,



12. securitization,



13. the leverage ratio, and



14. the consolidation of the requirements on a consolidated basis.



in terms of section 17 of the Act (2014:968) if special supervision of

credit institutions and investment firms, the financial supervisory authority

Furthermore, provide for



1. the requirements under Chapter 3. § 5 shall be made on the

to be included in the management of a financial holding company or

a mixed financial holding company,



2. at any time, in any place and with which

interval institutions shall publish such information as

specified in articles 431-455 in prudential regulation,



3. what information the parent company is required to disclose pursuant to 6

Cape. section 2,



4. the factors to be taken into account in the determination of a

the appropriate level of own funds in connection with a review and

evaluation of an institution, and



5. the factors to be taken into account and, secondly, when considering

According to Chapter 2. section 3 of where an institution must meet a

in particular the liquidity requirements and, second, in the determination of a

the appropriate level for such special liquidity requirements in

connection with a review and assessment of an institution.



Appropriations under the Act (2014:966) on capital buffers



section 18 in relation to the law (2014:966) on capital buffers may

The FSA provide for



1. criteria for which securities companies, fund management companies and

Aifm in accordance with Chapter 3. paragraph 3 may be exempted from the requirement

to maintain a buffer requirement,



2. the principles to be taken into account when determining and

the grading of the systemic risk buffer according to Chapter 4. section 1,



3. the determination of the geographic affinity of exposures

with respect to the systemic risk buffer as well as how the geographical

systemriskbuffertkraven, consistent,



4. assessment criteria for when an institution shall be appointed to

Global systemically important or moved to a higher category of

Global systemically important institutions,



5. what other systemically important institutions should be identified and how

assessment of the associated kapitalbuffertkrav in accordance with 5

Cape. 3 and 4 sections,



6. which credit exposures in accordance with Chapter 6. paragraph 1 shall

taken into account in the calculation of the

the capital buffer,



7. the calculation of the weighted average of the

countercyclical buffertvärdena according to Chapter 6. section 1,



8. criteria for which securities companies, fund management companies and

Aifm in accordance with Chapter 6. paragraph 3 may be exempted from the requirement


maintaining a countercyclical capital buffer,



9. obligation on the institutions to enter their

geographic area of credit exposures,



10. how the maximum available amount in accordance with Chapter 8. paragraph 1 shall

be calculated and reported,



11. the requirement that a capital conservation plan under Chapter 8. 1 §

shall comply with, and



12. notification obligation in accordance with Chapter 8. § 5.



Enforcement regulations



section 19 of the financial supervision authority shall notify the



1. what applications under supervisory regulation, law

(2014:968) if special supervision of credit institutions and

securities companies and the law (2014:966) on capital buffers

should contain and what documents should be submitted

to the inspection;



2. such exposures referred to in Chapter 4. section 7 of the Act on

capital buffers,



3. to certain tasks according to Chapter 6. paragraph 1 of the law on

special supervision of credit institutions and securities companies

must be submitted to the financial supervision authority shall be submitted to

The central statistical office,



4. the determination of a countercyclical buffer Guide and

a countercyclical buffer value according to Chapter 7. paragraph 1 of the law on

capital buffers,



5. such exposures referred to in Chapter 7. paragraph 4 of the law on

capital buffers,



6. the setting of a countercyclical buffer value for

credit exposures in a country outside the EEA, in accordance with Chapter 7. paragraph 5 of the

the law on capital buffers, and



7. recognition of other Member States ' shorter transition period

for the countercyclical capital buffer under paragraph 5 of the law

(2014:967) on the introduction of the law (2014:966) on

capital buffers.



Consultation



20 § Before the FSA announces regulations pursuant to

of the 19 § 3, the Inspectorate give the Riksbank and Statistical

Central Office the opportunity to comment.



State aid to credit institutions



section 21/expires U: 2016-02-01/

When support is provided to the institution under the Act if (2008:814)

If State aid to credit institutions, to the principles of

variable remuneration and the remuneration structure set out in article

93 in the capital adequacy directive is complied with.



the entry into force of section 21/in: 2016-02-01/

When support is provided to the institution under the Act if (2015:1017) concerning the prevention of State aid to credit institutions, to the principles of variable remuneration and the remuneration structure set out in article 93 of the capital adequacy directive is complied with. Regulation (2015:1043).