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Table of Contents
European Communities (Capital Adequacy of Investment Firms) Regulations, 2006 [S.I. No. 660 of 2006]Introductory TextPart 1 Preliminary and General (regs. 1-3)Regulation 1 Citation and commencement.Regulation 2 Interpretation.Regulation 3 Application of certain provisions of CRD Regulations (CI) to investment firms.Part 2 Initial Capital (regs. 4-9)Regulation 4 Initial capital for investment firms.Regulation 5 Initial capital for local firms.Regulation 6 Coverage for investment firms referred to in paragraph (c) of definition of "investment firm".Regulation 7 Coverage for investment firms referred to in Regulation 6 that are also registered under Directive 2002/92/EC.Regulation 8 Initial capital for investment firms that do not fall within Regulations 4 to 7.Regulation 9 Mergers.Part 3 Trading Book (reg. 10)Regulation 10 What constitutes trading book.Part 4 Own Funds (regs. 11-15)Regulation 11 Own funds of investment firms and credit institutions.Regulation 12 Exceptions to Regulation 11(9).Regulation 13 Illiquid assets.Regulation 14 Investment firms granted waiver under Regulation 20.Regulation 15 Provisions applicable to institutions which use Chapter 3 of Part 4 of the CRD Regulations (CI).Part 5 Minimum Own Funds Requirements for Credit Risk (regs. 16-33)Chapter 1 Provisions Against Risks (regs. 16-19)Regulation 16 Own funds required.Regulation 17 Risk-weighting of certain debt securities.Regulation 18 Exemptions for investment firms that do not hold client money.Regulation 19 Investment firms to hold own funds equivalent to one quarter of preceding year's fixed overheads.Chapter 2 Application of Requirements on Consolidated Basis (regs. 20-23)Regulation 20 Bank may waive certain consolidation requirements.Regulation 21 Provisions supplementary to Regulation 20.Regulation 22 Exceptions to Regulation 3(6).Regulation 23 Further exceptions to Regulation 3(6).Chapter 3 Calculation of Consolidated Requirements (regs. 24-25)Regulation 24 Offsetting of trading book and foreign exchange and commodities positions between institutions of group.Regulation 25 Application of Regulation 10 of CRD Regulations (CI).Chapter 4 Monitoring and Control of Large Exposures (regs. 26-30)Regulation 26 Application of Part 6 of CRD Regulations (CI) to large exposures.Regulation 27 Exposures to individual clients which arise on trading book.Regulation 28 Overall exposures to individual clients or groups.Regulation 29 Circumstances in which limits set out in Regulations 57 to 60A of CRD Regulations (CI) may be exceeded.Regulation 30 Establishment of certain procedures.Chapter 5 Valuation of Positions for Reporting Purposes (reg. 31)Regulation 31 Trading book positions to be subject to certain prudent valuation rules.Chapter 6 Risk Management and Capital Assessment (reg. 32)Regulation 32 Risk management and capital assessment.Chapter 7 Reporting Requirements (reg. 33)Regulation 33 Reporting requirements.Part 6 Competent Authorities and Supervision (regs. 34-36)Chapter 1 Competent Authority (reg. 34)Regulation 34 Designation of Bank as competent authority.Chapter 2 Supervision (regs. 35-36)Regulation 35 Application of Part 9 of CRD Regulations (CI).Regulation 36 Cooperation between competent authorities.Part 7 Disclosures (reg. 37)Regulation 37 Disclosures.Part 8 Miscellaneous (regs. 38-44)Chapter 1 Exposures to third-country investment firms (reg. 38)Regulation 38 Exposures to third-country investment firms, etc. to be treated as exposures to institutions.Chapter 2 Transitional Provisions (regs. 39-43)Regulation 39 Transitional provisions - general.Regulation 40 Transitional provisions - large exposures.Regulation 41 Transitional provisions - disapplication of Regulation 19(d) of CRD Regulations (CI).Regulation 42 Transitional provisions - specific risk model recognition prior to 1 January 2007.Regulation 43 Transitional provisions - exemptions for certain investment firms.Chapter 3 Final Provisions (reg. 44)Regulation 44 Application of Regulations 1(3) and 82(8) to (14) of CRD Regulations (CI).Given underExplanatory Memorandum
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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2006 - onwards
Part 1 Preliminary and General (regs. 1-3)
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Regulation 1 Citation and commencement. | |||
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Regulation 2 Interpretation. | |||
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Regulation 3 Application of certain provisions of CRD Regulations (CI) to investment firms. |