AI Summary of Article 469 Deductions from Common Equity Tier 1 items
This regulation outlines specific derogations from Article 36(1) impacting Common Equity Tier 1 items for institutions during the period from 1 January 2014 to 31 December 2017. Notably, institutions must deduct an applicable percentage from specified amounts, excluding deferred tax assets rooted in future profitability.
The framework also requires institutions to assess residual amounts after deductions, with clear calculations set for those subject to Article 472(5) and Article 472(11), ensuring a transparent approach to handling direct and indirect holdings in Common Equity Tier 1 instruments.
Article 469 Deductions from Common Equity Tier 1 items
1. By way of derogation from Article 36(1), during the period from 1 January 2014 to 31 December 2017, the following shall apply:
(a) institutions shall deduct from Common Equity Tier 1 items the applicable percentage specified in Article 478 of the amounts required to be deducted pursuant to points (a) to (h) of Article 36(1), excluding deferred tax assets that rely on future profitability and arise from temporary differences;
(b) institutions shall apply the relevant provisions laid down in Article 472 to the residual amounts of items required to be deducted pursuant to points (a) to (h) of Article 36(1), excluding deferred tax assets that rely on future profitability and arise from temporary differences;
(c) institutions shall deduct from Common Equity Tier 1 items the applicable percentage specified in Article 478 of the total amount required to be deducted pursuant to points (c) and (i) of Article 36(1) after applying Article 470;