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European Communities (Capital Adequacy of Credit Institutions) Regulations, 2006 [S.I. No. 661 of 2006]Introductory TextPart 1 Preliminary (regs. 1-2)Regulation 1 Citation and commencement.Regulation 2 Interpretation.Part 2 Own Funds (regs. 3-12)Regulation 3 Unconsolidated own funds of credit institutions.Regulation 4 Waiver of Regulation 3(2)(d) to (h).Regulation 5 Alternative to deduction of items referred to in Regulation 3(2)(g) and (h).Regulation 6 Circumstances in which certain credit institutions need not deduct items referred to in Regulation 3(2)(d) to (h).Regulation 7 Requirements applicable to items referred to in Regulation 3(1)(a), (b) and (c).Regulation 8 Other items.Regulation 8A Requirements for instruments referred to in Regulation 3(1)(ba).Regulation 9 Fixed-term cumulative preferential shares and subordinated loan capital, etc.Regulation 10 Consolidated amounts relating to items listed under Regulation 3.Regulation 11 Limits on items referred to in Regulation 3.Regulation 12 Compliance with this Part.Part 3 Provisions against Risks (regs. 13-19)Regulation 13 Where compliance must be on an individual basis.Regulation 14 Discretion of Bank to allow parent credit institutions to incorporate subsidiaries in calculation of requirement under Regulation 13(1).Regulation 15 Application of Regulations 13 and 14 to parent credit institutions in the State, etc.Regulation 16 Application of Part 11 to EU based parent credit institutions, etc.Regulation 17 Discretion of Bank to exclude subsidiaries from consolidation, etc.Regulation 18 Calculation and reporting requirements.Regulation 19 Minimum level of own funds.Part 4 Minimum Own Funds Requirements for Credit Risk (regs. 20-47)Chapter 1 Definition of "exposure" and Approaches that may be used for Calculation under Regulation 19(a) (regs. 20-21)Regulation 20 Definition of "exposure".Regulation 21 Calculation of risk-weighted exposure amounts for purposes of Regulation 19(a).Chapter 2 Standardised Approach (regs. 22-28)Regulation 22 Determination of exposure values.Regulation 23 Classification of exposures.Regulation 24 Calculation of risk-weighted exposure amounts.Regulation 25 Use of ECAIs.Regulation 26 Determination of credit quality steps to be associated with eligible ECAI.Regulation 27 Use of credit assessments.Regulation 28 Use of treatment accorded exposures in third countries.Chapter 3 Internal Ratings Based Approach (regs. 29-35)Regulation 29 Permission to use IRB Approach is required.Regulation 30 Implementation of IRB Approach.Regulation 31 Classification of exposures.Regulation 32 Calculation of risk-weights for various exposure classes.Regulation 33 Calculation of EL.Regulation 34 Circumstances in which Chapter 2 may be used for individual business lines.Regulation 35 Transitional provisions for relevant data.Chapter 4 Credit Risk Mitigation (regs. 36-39)Regulation 36 Definition of "lending credit institution".Regulation 37 Recognition of credit risk mitigation.Regulation 38 Credit protection to be legally effective, etc.Regulation 39 Use of credit risk mitigation.Chapter 5 Securitisation (regs. 40-47)Regulation 40 Calculation of risk-weighted amounts for securitisation positions.Regulation 41 Transfer of credit risk.Regulation 42 Calculation of risk-weights under securitisation.Regulation 43 Use of ECAI credit assessments in securitisation.Regulation 44 Determination of credit quality steps to be associated with eligible ECAI.Regulation 45 Use of credit assessments.Regulation 46 Securitisation of revolving exposures subject to early amortisation provision.Regulation 47 Originator credit institutions shall not provide support to securitisation beyond contractual obligations.Part 5 Minimum Own Funds Requirements for Operational Risk (regs. 48-51)Regulation 48 Use of approaches for operational risk.Regulation 49 Basic Indicator Approach.Regulation 50 Standardised Approach.Regulation 51 Advanced Measurement Approach.Part 6 Large Exposures (regs. 52-61)Regulation 52 Interpretation (Part 6).Regulation 53 Calculation of exposures, etc.Regulation 54 Large exposure to client or group of connected clients.Regulation 55 Sound administrative and accounting procedures, etc. to identify and monitor large exposures.Regulation 56 Reporting of large exposures.Regulation 57 Large exposures to single clients or groups of connected clients.Regulation 58 Requirements applicable to recognition of funded or unfunded credit protection.Regulation 59 Regulation 57 not to apply to certain exposures of credit institutions.Regulation 60 How collateral can be taken into account in the calculating credit risk in large exposure.Regulation 60A Other requirements applicable to funded and unfunded credit protection.Regulation 61 Action to be taken by credit institution when obligations in other provisions of this Part are disapplied, etc.Part 7 Qualifying Holdings outside Financial Sector (regs. 62-64)Regulation 62 Limits on qualifying holdings which may be held by credit institutions.Regulation 63 Exclusions from Regulation 62(1) and (2).Regulation 64 Discretions of Bank.Part 7A Exposures to transferred credit risk (regs. 64A-64K)Chapter 1 Preliminary (regs. 64A-64B)Regulation 64A Application of this Part.Regulation 64B Retention of net economic interest.Chapter 2 Credit institutions not acting as originator, etc. (regs. 64C-64F)Regulation 64C Obligation to retain net economic interest.Regulation 64D Limits of application of Regulation 64C.Regulation 64E Requirements for prior due diligence.Regulation 64F Ongoing monitoring of securitisation positions.Chapter 3 Credit institutions acting as originator, etc. (regs. 64G-64I)Regulation 64G Securitisations by EU parent credit institution or EU financial holding companies.Regulation 64H Application of credit-granting criteria to securitised exposures.Regulation 64I Disclosure of net economic interest retained.Chapter 4 Effect on risk weights (reg. 64J)Regulation 64J Bank may increase risk weights, etc.Chapter 5 Disclosure of information (reg. 64K)Regulation 64K Disclosure by the Bank.Part 8 Credit Institutions' Assessment Process (reg. 65)Regulation 65 Strategies and processes relating to amount, etc. of internal capital required.Part 9 Supervision and Disclosures by Competent Authorities (regs. 66-70)Regulation 66 Review and evaluation by Bank of credit institutions' compliance with recast Directive (CI).Regulation 67 Joint decisions of competent authorities.Regulation 67A Joint decisions of competent authorities on consolidated level of own funds.Regulation 67B Annual updating of joint decisions.Regulation 68 Reporting by Bank.Regulation 69 Persons who direct business of financial holding company to be of good repute.Regulation 70 Actions to be taken by Bank if credit institution does not meet the requirements of these Regulations.Part 10 Disclosures by Competent Authorities (reg. 71)Regulation 71 Publication of certain information by Bank.Part 11 Disclosures by Credit Institutions (regs. 72-76)Regulation 72 Disclosures by credit institutions.Regulation 73 Exceptions to disclosures required under Regulation 72.Regulation 74 Publication of disclosures.Regulation 75 Where disclosures are published.Regulation 76 Powers of Bank relating to disclosures.Part 12 Amendments to European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992 (regs. 77-81)Regulation 77 Definition of "Principal Regulations".Regulation 78 Amendment of Regulation 3 of Principal Regulations.Regulation 79 Amendment of Regulation 16 of Principal Regulations.Regulation 80 Amendment of Regulation 20 of Principal Regulations.Regulation 81 Amendment of Regulation 23 of Principal Regulations.Part 13 Transitional Provisions (regs. 82-84)Regulation 82 Transitional provisions general.Regulation 83 Transitional provisions-calculation of risk-weighted exposure amounts for certain exposures, etc.Regulation 84 Transitional provisions discretions of Bank.Given under
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AI Summary of Part 1 Preliminary (regs. 1-2)

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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2006 - onwards

Part 1 Preliminary (regs. 1-2)

Future version Amendment requiring commencement Draft proposed change
Regulation 1 Citation and commencement.
Regulation 2 Interpretation.
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