Law (2014:967) On The Introduction Of The Law (2014:966) On Capital Buffers

Original Language Title: Lag (2014:967) om införande av lagen (2014:966) om kapitalbuffertar

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2014:967

section 1 of the Act (2014:966) on capital buffers and this law becomes

in force on August 2, 2014.



section 2 provisions on capital buffers for systemic

institutions in Chapter 5. the law on capital buffers are applied from

1 January 2016.



paragraph 3 of the rules on systemic risk buffer in Chapter 4. section 3 of the Act

If capital buffers shall apply as from 1 January

2015.



Until 31 december 2014, the Swedish financial supervisory authority

a month after the inspection is completed

the notification requirement in article 133.11 of European Parliament and

Council directive of 26 June 2013 on access

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 (capital adequacy directive) may decide that a

institutions should have a systemic risk buffer which amounts to no more than 3

percent of the institution's risk-weighted exposure amounts based on the

the institution's exposures in the country or outside the EEA.



Systemic risk buffer may until 31 december

2014 amount to more than 3% of the amount of exposure

referred to in the second subparagraph only if the FSA completed

the notification requirement in article 133.12 in

the solvency ratio directive and the measure approved by the

The European Commission in accordance with article 133.15 in same

directive.



section 4 of the institutions required to maintain a capital buffer

for global systemically important institutions need



1. during the years 2016 to meet only 25% of the

capital requirements arising from the provisions on the capital buffer

for global systemically important institutions,



2. in the year 2017 to meet only 50 percent of the

capital requirements arising from the provisions on the capital buffer

for global systemically important institutions,



3. during the years 2018 to meet only 75 percent of the

capital requirements arising from the provisions on the capital buffer

for global systemically important institutions.



paragraph 5 of the financial supervision authority may, until 31 december

2018 to recognise other Member States ' shorter transitional periods

for the countercyclical capital buffer. In deciding whether to

to recognise other Member States ' countercyclical

kapitalbuffertvärden, the Swedish financial supervisory authority fulfil the

notification obligation laid down in article 160.6 in

the capital adequacy directive.