S.I. No. 682/2024 - European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2024

1. (1) These Regulations may be cited as the European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2024.

(2) These Regulations come into operation on 1 January 2025.

Definition

2. In these Regulations, “Principal Regulations” means the European Union (Capital Requirements) (No. 2) Regulations 2014 (

S.I. No. 159 of 2014

).

Amendment of Principal Regulations

3. The Principal Regulations are amended –

(a) in Regulation 2, by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

4

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

5

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

6

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

7

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

8

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

9

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

10

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

11

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

12

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

13

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

14

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

15

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

16

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

17

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

18

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

19

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

20

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

21

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk.”,

(b) in Regulation 3(3), by the substitution of “Article 124(9)” for “Article 124(2)”,

(c) by the insertion of the following Regulation after Regulation 3

“

Own funds requirements

3A. (1) Notwithstanding the first subparagraph of paragraph 3 of Article 92 of the Capital Requirements Regulation, where –

(a) an institution is part of a group with a parent institution in the State, and

(b) that parent institution or, in the case of a group composed of a central body and permanently affiliated institutions, the whole as constituted by the central body together with its affiliated institutions, calculates its total risk exposure amount in accordance with the first subparagraph of paragraph 3 of Article 92 of the Capital Requirements Regulation on a consolidated basis,

the total risk exposure amount of the institution for the purposes of the Capital Requirements Regulation shall be the un-floored total risk exposure amount, calculated in accordance with paragraph 4 of the said Article 92.

(2) A word or expression used in this Regulation that is also used in the Capital Requirements Regulation has, unless the context otherwise requires, the same meaning in this Regulation as it has in the Capital Requirements Regulation.”,

and

(d) in Regulation 5, by the substitution of “Article 382, 394, 430, 430a or 430b” for “Article 394, 430, 430a or 430b”.

Amendment of Central Bank Act 1942

4. The

Central Bank Act 1942

(No. 22 of 1942) is amended –

(a) in section 2(1), by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

22

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

23

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

24

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

25

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

26

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

27

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

28

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

29

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

30

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

31

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

32

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

33

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

34

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

35

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

36

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

37

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

38

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

39

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”, and

(b) in Part 2 of Schedule 2, by the insertion of the following item

“

85

S.I. No. 159 of 2014

European Union (Capital Requirements) (No.2) Regulations 2014

The whole instrument

”.

Amendment of Central Bank Act 1971

5.

Section 2

(1) of the

Central Bank Act 1971

(No. 24 of 1971) is amended by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

40

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

41

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

42

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

43

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

44

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

45

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

46

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

47

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

48

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

49

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

50

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

51

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

52

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

53

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

54

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

55

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

56

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

57

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Taxes Consolidation Act 1997

6. The

Taxes Consolidation Act 1997

(No. 39 of 1997) is amended –

(a) in section 110(5A)(a), by the substitution of the following definition for the definition of “CRR”

“ ‘CRR’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

58

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

59

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

60

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

61

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

62

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

63

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

64

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

65

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

66

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

67

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

68

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

69

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

70

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

71

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

72

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

73

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

74

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

75

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”, and

(b) in section 845C(1), by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

76

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

77

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

78

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

79

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

80

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

81

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

82

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

83

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

84

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

85

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

86

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

87

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

88

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

89

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

90

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

91

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

92

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

93

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

7.

Section 24

(1) of the

Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

(No. 6 of 2010) is amended by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

94

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

95

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

96

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

97

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

98

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

99

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

100

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

101

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

102

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

103

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

104

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

105

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

106

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

107

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

108

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

109

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

110

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

111

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Communities (Electronic Money) Regulation 2011

8. Regulation 3(1) of the European Communities (Electronic Money) Regulations 2011 (

S.I. No. 183 of 2011

) is amended by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

112

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

113

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

114

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

115

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

116

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

117

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

118

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

119

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

120

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

121

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

122

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

123

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

124

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

125

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

126

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

127

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

128

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

129

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Capital Requirements) Regulations 2014

9. Regulation 3(1) of the European Union (Capital Requirements) Regulations 2014 (

S.I. No. 158 of 2014

) is amended by the substitution of the following definition for the definition of “Capital Requirements Regulation”

“ ‘Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

130

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

131

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

132

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

133

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

134

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

135

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

136

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

137

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

138

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

139

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

140

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

141

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

142

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

143

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

144

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

145

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

146

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

147

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Bank Recovery and Resolution) Regulations 2015

10. Regulation 3(1) of the European Union (Bank Recovery and Resolution) Regulations 2015 (

S.I. No. 289 of 2015

) is amended by the substitution of the following definition for the definition of “Union Capital Requirements Regulation”

“ ‘Union Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

148

on prudential requirements for credit institutions and investment firms and mending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

149

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

150

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

151

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

152

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

153

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

154

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

155

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

156

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

157

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

158

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

159

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

160

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

161

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

162

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

163

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

164

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

165

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of the European Union (Deposit Guarantee Schemes) Regulations 2015

11. Regulation 3(1) of the European Union (Deposit Guarantee Schemes) Regulations 2015 (

S.I. No. 516 of 2015

) is amended by the substitution of the following definition for the definition of “Union Capital Requirements Regulation”

“ ‘Union Capital Requirements Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

166

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

167

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

168

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

169

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

170

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

171

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

172

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

173

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

174

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

175

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

176

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

177

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

178

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

179

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

180

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

181

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

182

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

183

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of European Union (Payment Services) Regulations 2018

12. Regulation 2(1) of the European Union (Payment Services) Regulations 2018 (

S.I. No. 6 of 2018

) is amended by the substitution of the following definition for the definition of “Regulation (EU) No 575/2013”

“ ‘Regulation (EU) No 575/2013’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

184

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

185

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

186

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

187

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

188

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

189

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

190

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

191

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

192

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

193

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

194

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

195

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

196

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

197

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

198

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

199

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

200

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

201

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

Amendment of Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023

13. Regulation 2(1) of the

Central Bank (Supervision and Enforcement) Act 2013

(Section 48(1)) (Investment Firms) Regulations 2023 (

S.I. No. 10 of 2023

) is amended by the substitution of the following definition for the definition of “Capital Requirement Regulation”

“ ‘Capital Requirement Regulation’ means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013

202

on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012, as amended by –

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 2014

203

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 2016

204

amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 2017

205

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 2017

206

amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 2017

207

amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 2017

208

correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019

209

amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 2019

210

amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019

211

on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014,

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020

212

amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic,

(k) Commission Delegated Regulation (EU) 2021/424 of 17 December 2019

213

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the alternative standardised approach for market risk,

(l) Regulation (EU) 2021/558 of the European Parliament and of the Council of 31 March 2021

214

amending Regulation (EU) No 575/2013 as regards adjustments to the securitisation framework to support the economic recovery in response to the COVID-19 crisis,

(m) Commission Implementing Regulation (EU) 2021/1043 of 24 June 2021

215

on the extension of the transitional provisions related to own funds requirements for exposures to central counterparties set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council,

(n) Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022

216

amending Regulation (EU) No. 575/2013 and Directive 2014/59/EU as regards the prudential treatment of global systemically important institutions with a multiple-point-of entry resolution strategy and methods for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities,

(o) Regulation (EU) 2023/2869 of the European Parliament and of the Council of 13 December 2023

217

amending certain Regulations as regards the establishment and functioning of the European single access point,

(p) Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

218

amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, and

(q) Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

219

amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk;”.

GIVEN under my Official Seal,

5 December, 2024.

JACK CHAMBERS,

Minister for Finance.

1 OJ No. L. 176, 27.06.2013. p.1.

2 OJ L, 2024/1623, 19.6.2024.

3 OJ L, 2024/2795, 31.10.2024.

4 OJ No. L. 176, 27.6. 2013, p. 1.

5 OJ No. L. 11, 17.1.2015, p. 37.

6 OJ No. L. 171, 29.6.2016, p. 153.

7 OJ No. L. 310, 25.11.2017, p. 1.

8 OJ No. L. 345, 27.12.2017, p. 27.

9 OJ No. L. 347, 28.12.2017, p. 1.

10 OJ No. L. 74, 16.3.2018, p. 3.

11 OJ No. L. 111, 25.4.2019, p. 4.

12 OJ No. L. 150, 7.6.2019, p. 1.

13 OJ No. L. 314, 5.12.2019, p. 1.

14 OJ. No. L. 204, 26.6.2020, p. 4.

15 OJ No. L. 84, 11.3.2021, p. 1.

16 OJ No. L. 116, 6.4.2021, p. 25.

17 OJ No. L. 225, 25.6.2021, p. 52.

18 OJ No. L. 275, 25.10.2022, p.1.

19 OJ L, 2023/2869, 20.12.2023.

20 OJ L, 2024/1623, 19.6.2024.

21 OJ L, 2024/2795, 31.10.2024.

22 OJ No. L. 176, 27.6. 2013, p. 1.

23 OJ No. L. 11, 17.1.2015, p. 37.

24 OJ No. L. 171, 29.6.2016, p. 153.

25 OJ No. L. 310, 25.11.2017, p. 1.

26 OJ No. L. 345, 27.12.2017, p. 27.

27 OJ No. L. 347, 28.12.2017, p. 1.

28 OJ No. L. 74, 16.3.2018, p. 3.

29 OJ No. L. 111, 25.4.2019, p. 4.

30 OJ No. L. 150, 7.6.2019, p. 1.

31 OJ No. L. 314, 5.12.2019, p. 1.

32 OJ. No. L. 204, 26.6.2020, p. 4.

33 OJ No. L. 84, 11.3.2021, p. 1.

34 OJ No. L. 116, 6.4.2021, p. 25.

35 OJ No. L. 225, 25.6.2021, p. 52.

36 OJ No. L. 275, 25.10.2022, p.1.

37 OJ L, 2023/2869, 20.12.2023.

38 OJ L, 2024/1623, 19.6.2024.

39 OJ L, 2024/2795, 31.10.2024.

40 OJ No. L. 176, 27.6. 2013, p. 1.

41 OJ No. L. 11, 17.1.2015, p. 37.

42 OJ No. L. 171, 29.6.2016, p. 153.

43 OJ No. L. 310, 25.11.2017, p. 1.

44 OJ No. L. 345, 27.12.2017, p. 27.

45 OJ No. L. 347, 28.12.2017, p. 1.

46 OJ No. L. 74, 16.3.2018, p. 3.

47 OJ No. L. 111, 25.4.2019, p. 4.

48 OJ No. L. 150, 7.6.2019, p. 1.

49 OJ No. L. 314, 5.12.2019, p. 1.

50 OJ. No. L. 204, 26.6.2020, p. 4.

51 OJ No. L. 84, 11.3.2021, p. 1.

52 OJ No. L. 116, 6.4.2021, p. 25.

53 OJ No. L. 225, 25.6.2021, p. 52.

54 OJ No. L. 275, 25.10.2022, p.1.

55 OJ L, 2023/2869, 20.12.2023.

56 OJ L, 2024/1623, 19.6.2024.

57 OJ L, 2024/2795, 31.10.2024.

58 OJ No. L. 176, 27.6. 2013, p. 1.

59 OJ No. L. 11, 17.1.2015, p. 37.

60 OJ No. L. 171, 29.6.2016, p. 153.

61 OJ No. L. 310, 25.11.2017, p. 1.

62 OJ No. L. 345, 27.12.2017, p. 27.

63 OJ No. L. 347, 28.12.2017, p. 1.

64 OJ No. L. 74, 16.3.2018, p. 3.

65 OJ No. L. 111, 25.4.2019, p. 4.

66 OJ No. L. 150, 7.6.2019, p. 1.

67 OJ No. L. 314, 5.12.2019, p. 1.

68 OJ No. L. 204, 26.6.2020, p. 4.

69 OJ No. L. 84, 11.3.2021, p. 1.

70 OJ No. L. 116, 6.4.2021, p. 25.

71 OJ No. L. 225, 25.6.2021, p. 52.

72 OJ No. L. 275, 25.10.2022, p.1.

73 OJ L, 2023/2869, 20.12.2023.

74 OJ L, 2024/1623, 19.6.2024.

75 OJ L, 2024/2795, 31.10.2024.

76 OJ No. L. 176, 27.6. 2013, p. 1.

77 OJ No. L. 11, 17.1.2015, p. 37.

78 OJ No. L. 171, 29.6.2016, p. 153.

79 OJ No. L. 310, 25.11.2017, p. 1.

80 OJ No. L. 345, 27.12.2017, p. 27.

81 OJ No. L. 347, 28.12.2017, p. 1.

82 OJ No. L. 74, 16.3.2018, p. 3.

83 OJ No. L. 111, 25.4.2019, p. 4.

84 OJ No. L. 150, 7.6.2019, p. 1.

85 OJ No. L. 314, 5.12.2019, p. 1.

86 OJ No. L. 204, 26.6.2020, p. 4.

87 OJ No. L. 84, 11.3.2021, p. 1.

88 OJ No. L. 116, 6.4.2021, p. 25.

89 OJ No. L. 225, 25.6.2021, p. 52.

90 OJ No. L. 275, 25.10.2022, p. 1.

91 OJ L, 2023/2869, 20.12.2023.

92 OJ L, 2024/1623, 19.6.2024.

93 OJ L, 2024/2795, 31.10.2024.

94 OJ No. L. 176, 27.6. 2013, p. 1.

95 OJ No. L. 11, 17.1.2015, p. 37.

96 OJ No. L. 171, 29.6.2016, p. 153.

97 OJ No. L. 310, 25.11.2017, p. 1.

98 OJ No. L. 345, 27.12.2017, p. 27.

99 OJ No. L. 347, 28.12.2017, p. 1.

100 OJ No. L. 74, 16.3.2018, p. 3.

101 OJ No. L. 111, 25.4.2019, p. 4.

102 OJ No. L. 150, 7.6.2019, p. 1.

103 OJ No. L. 314, 5.12.2019, p. 1.

104 OJ No. L. 204, 26.6.2020, p. 4.

105 OJ No. L. 84, 11.3.2021, p. 1.

106 OJ No. L. 116, 6.4.2021, p. 25.

107 OJ No. L. 225, 25.6.2021, p. 52.

108 OJ No. L. 275, 25.10.2022, p. 1.

109 OJ L, 2023/2869, 20.12.2023.

110 OJ L, 2024/1623, 19.6.2024.

111 OJ L, 2024/2795, 31.10.2024.

112 OJ No. L. 176, 27.6. 2013, p. 1.

113 OJ No. L. 11, 17.1.2015, p. 37.

114 OJ No. L. 171, 29.6.2016, p. 153.

115 OJ No. L. 310, 25.11.2017, p. 1.

116 OJ No. L. 345, 27.12.2017, p. 27.

117 OJ No. L. 347, 28.12.2017, p. 1.

118 OJ No. L. 74, 16.3.2018, p. 3.

119 OJ No. L. 111, 25.4.2019, p. 4.

120 OJ No. L. 150, 7.6.2019, p. 1.

121 OJ No. L. 314, 5.12.2019, p. 1.

122 OJ No. L. 204, 26.6.2020, p. 4.

123 OJ No. L. 84, 11.3.2021, p. 1.

124 OJ No. L. 116, 6.4.2021, p. 25.

125 OJ No. L. 225, 25.6.2021, p. 52.

126 OJ No. L. 275, 25.10.2022, p.1.

127 OJ L, 2023/2869, 20.12.2023.

128 OJ L, 2024/1623, 19.6.2024.

129 OJ L, 2024/2795, 31.10.2024.

130 OJ No. L. 176, 27.6. 2013, p. 1.

131 OJ No. L. 11, 17.1.2015, p. 37.

132 OJ No. L. 171, 29.6.2016, p. 153.

133 OJ No. L. 310, 25.11.2017, p. 1.

134 OJ No. L. 345, 27.12.2017, p. 27.

135 OJ No. L. 347, 28.12.2017, p. 1.

136 OJ No. L. 74, 16.3.2018, p. 3.

137 OJ No. L. 111, 25.4.2019, p. 4.

138 OJ No. L. 150, 7.6.2019, p. 1.

139 OJ No. L. 314, 5.12.2019, p. 1.

140 OJ No. L. 204, 26.6.2020, p. 4.

141 OJ No. L. 84, 11.3.2021, p. 1.

142 OJ No. L. 116, 6.4.2021, p. 25.

143 OJ No. L. 225, 25.6.2021, p. 52.

144 OJ No. L. 275, 25.10.2022, p.1.

145 OJ L, 2023/2869, 20.12.2023.

146 OJ L, 2024/1623, 19.6.2024.

147 OJ L, 2024/2795, 31.10.2024.

148 OJ No. L. 176, 27.6. 2013, p. 1.

149 OJ No. L. 11, 17.1.2015, p. 37.

150 OJ No. L. 171, 29.6.2016, p. 153.

151 OJ No. L. 310, 25.11.2017, p. 1.

152 OJ No. L. 345, 27.12.2017, p. 27.

153 OJ No. L. 347, 28.12.2017, p. 1.

154 OJ No. L. 74, 16.3.2018, p. 3.

155 OJ No. L. 111, 25.4.2019, p. 4.

156 OJ No. L. 150, 7.6.2019, p. 1.

157 OJ No. L. 314, 5.12.2019, p. 1.

158 OJ. No. L. 204, 26.6.2020, p. 4.

159 OJ No. L. 84, 11.3.2021, p. 1.

160 OJ No. L. 116, 6.4.2021, p. 25.

161 OJ No. L. 225, 25.6.2021, p. 52.

162 OJ No. L. 275, 25.10.2022, p. 1.

163 OJ L, 2023/2869, 20.12.2023.

164 OJ L, 2024/1623, 19.6.2024.

165 OJ L, 2024/2795, 31.10.2024.

166 OJ No. L. 176, 27.6. 2013, p. 1.

167 OJ No. L. 11, 17.1.2015, p. 37.

168 OJ No. L. 171, 29.6.2016, p. 153.

169 OJ No. L. 310, 25.11.2017, p. 1.

170 OJ No. L. 345, 27.12.2017, p. 27.

171 OJ No. L. 347, 28.12.2017, p. 1.

172 OJ No. L. 74, 16.3.2018, p. 3.

173 OJ No. L. 111, 25.4.2019, p. 4.

174 OJ No. L. 150, 7.6.2019, p. 1.

175 OJ No. L. 314, 5.12.2019, p. 1.

176 OJ No. L. 204, 26.6.2020, p. 4.

177 OJ No. L. 84, 11.3.2021, p. 1.

178 OJ No. L. 116, 6.4.2021, p. 25.

179 OJ No. L. 225, 25.6.2021, p. 52.

180 OJ No. L. 275, 25.10.2022, p. 1.

181 OJ L, 2023/2869, 20.12.2023.

182 OJ L, 2024/1623, 19.6.2024.

183 OJ L, 2024/2795, 31.10.2024.

184 OJ No. L. 176, 27.6. 2013, p. 1.

185 OJ No. L. 11, 17.1.2015, p. 37.

186 OJ No. L. 171, 29.6.2016, p. 153.

187 OJ No. L. 310, 25.11.2017, p. 1.

188 OJ No. L. 345, 27.12.2017, p. 27.

189 OJ No. L. 347, 28.12.2017, p. 1.

190 OJ No. L. 74, 16.3.2018, p. 3.

191 OJ No. L. 111, 25.4.2019, p. 4.

192 OJ No. L. 150, 7.6.2019, p. 1.

193 OJ No. L. 314, 5.12.2019, p. 1.

194 OJ. No. L. 204, 26.6.2020, p. 4.

195 OJ No. L. 84, 11.3.2021, p. 1.

196 OJ No. L. 116, 6.4.2021, p. 25.

197 OJ No. L. 225, 25.6.2021, p. 52.

198 OJ No. L. 275, 25.10.2022, p.1.

199 OJ L, 2023/2869, 20.12.2023.

200 OJ L, 2024/1623, 19.6.2024.

201 OJ L, 2024/2795, 31.10.2024.

202 OJ No. L. 176, 27.6. 2013, p. 1.

203 OJ No. L. 11, 17.1.2015, p. 37.

204 OJ No. L. 171, 29.6.2016, p. 153.

205 OJ No. L. 310, 25.11.2017, p. 1.

206 OJ No. L. 345, 27.12.2017, p. 27.

207 OJ No. L. 347, 28.12.2017, p. 1.

208 OJ No. L. 74, 16.3.2018, p. 3.

209 OJ No. L. 111, 25.4.2019, p. 4.

210 OJ No. L. 150, 7.6.2019, p. 1.

211 OJ No. L. 314, 5.12.2019, p. 1.

212 OJ No. L. 204, 26.6.2020, p. 4.

213 OJ No. L. 84, 11.3.2021, p. 1.

214 OJ No. L. 116, 6.4.2021, p. 25.

215 OJ No. L. 225, 25.6.2021, p. 52.

216 OJ No. L. 275, 25.10.2022, p.1.

217 OJ L, 2023/2869, 20.12.2023.

218 OJ L, 2024/1623, 19.6.2024.

219 OJ L, 2024/2795, 31.10.2024.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

10

th December,

2024.

I, JACK CHAMBERS, Minister for Finance, in exercise of the powers conferred on me by

section 3

of the

European Communities Act 1972

(No. 27 of 1972) and for the purpose of giving further effect to Regulation (EU) No 575/2013 of the European Parliament and Council of 26 June 2013

1

, as amended by Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024

2

and Commission Delegated Regulation (EU) 2024/2795 of 24 July 2024

3

, hereby make the following regulations

Citation and commencement