What changed, Directive 2013/36/EU

− ## TITLE I / **SUBJECT MATTER, SCOPE AND DEFINITIONS**
− ## TITLE II / **COMPETENT AUTHORITIES**
− ## *CHAPTER 1* / ***General requirements for access to the activity of credit institutions***
− ## *CHAPTER 2* / ***Qualifying holding in a credit institution***
− ## *CHAPTER 1* / ***General Principles***
− ## *CHAPTER 2* / ***The right of establishment of credit institutions***
− ## *CHAPTER 3* / ***Exercise of the freedom to provide services***
− ## *CHAPTER 4* / ***Powers of the competent authorities of the host Member State***
− ## TITLE VI / **RELATIONS WITH THIRD COUNTRIES**
− ## Section I / **Competence and duties of home and host Member States**
− ## Section II / **Exchange of information and professional secrecy**
− ## Section III / **Duty of persons responsible for the legal control of annual and consolidated accounts**
− ## Section IV / **Supervisory powers, powers to impose penalties and right of appeal**
− ## Section I / **Internal capital adequacy assessment process**
− ## Sub-Section 1 / **General principles**
− ## Sub-Section 2 / **Technical criteria concerning the organisation and treatment of risks**
− ## Sub-Section 3 / **Governance**
− ## Section III / **Supervisory review and evaluation process**
− ## Section IV / **Supervisory measures and powers**
− ## Section V / **Level of application**
− ## Section I / **Principles for conducting supervision on a consolidated basis**
− ## Section II / **Financial holding companies, mixed financial holding companies and mixed-activity holding companies**
− ## Section I / **Buffers**
− ## Section II / **Setting and calculating countercyclical capital buffers**
− ## Section III / **Capital conservation measures**
− **1.** Where an institution fails to meet its combined buffer requirement, it shall prepare a capital conservation plan and submit it to the competent authority no later than five working days after it identified that it was failing to meet that requirement, unless the competent authority authorises…
− ## TITLE VIII / **DISCLOSURE BY COMPETENT AUTHORITIES**
− ## TITLE IX / **DELEGATED AND IMPLEMENTING ACTS**
− ## TITLE X / **AMENDMENTS OF DIRECTIVE 2002/87/EC**
− ## *CHAPTER 1* / ***Transitional provisions on the supervision of institutions exercising the freedom of establishment and the freedom to provide services***
+ ### Article 141b — Restriction on distributions in case of failure to meet the leverage ratio buffer requirement
+ **1.** An institution that meets the leverage ratio buffer requirement pursuant to Article 92(1a) of Regulation (EU) No 575/2013 shall not make a distribution in connection with Tier 1 capital to an extent that would decrease its Tier 1 capital to a level where the leverage ratio buffer requirement …
+ **2.** An institution that fails to meet the leverage ratio buffer requirement shall calculate the leverage ratio related maximum distributable amount (L-MDA) in accordance with paragraph 4 and shall notify the competent authority thereof.
+ Where the first subparagraph applies, the institution shall not undertake any of the following actions before it has calculated the L-MDA:
+ (b) create an obligation to pay variable remuneration or discretionary pension benefits or pay variable remuneration if the obligation to pay was created at a time when the institution failed to meet the leverage ratio buffer requirement; or
+ **3.** Where an institution fails to meet or exceed its leverage ratio buffer requirement, it shall not distribute more than the L-MDA calculated in accordance with paragraph 4 through any action referred to in points (a), (b) and (c) of the second subparagraph of paragraph 2.
+ **4.** Institutions shall calculate the L-MDA by multiplying the sum calculated in accordance with paragraph 5 by the factor determined in accordance with paragraph 6. The L-MDA shall be reduced by any amount resulting from any of the actions referred to in point (a), (b) or (c) of the second subpar…
+ **5.** The sum to be multiplied in accordance with paragraph 4 shall consist of:(a) any interim profits not included in Common Equity Tier 1 capital pursuant to Article 26(2) of Regulation (EU) No 575/2013 net of any distribution of profits or any payment related to the actions referred to in point …
+ **6.** The factor referred to in paragraph 4 shall be determined as follows:(a) where the Tier 1 capital maintained by the institution which is not used to meet the requirements under point (d) of Article 92(1) of Regulation (EU) No 575/2013 and under point (a) of Article 104(1) of this Directive wh…
+ The lower and upper bounds of each quartile of the leverage ratio buffer requirement shall be calculated as follows:
+ **7.** The restrictions imposed by this Article shall only apply to payments that result in a reduction of Tier 1 capital or in a reduction of profits, and where a suspension of payment or failure to pay does not constitute an event of default or a condition for the commencement of proceedings under…
+ **8.** Where an institution fails to meet the leverage ratio buffer requirement and intends to distribute any of its distributable profits or undertake an action referred to in points (a), (b) and (c) of the second subparagraph of paragraph 2 of this Article, it shall notify the competent authority …
+ **9.** Institutions shall maintain arrangements to ensure that the amount of distributable profits and the L-MDA are calculated accurately, and shall be able to demonstrate that accuracy to the competent authority on request.
+ **10.** For the purposes of paragraphs 1 and 2 of this Article, a distribution in connection with Tier 1 capital shall include any of the items listed in Article 141(10).
+ ### Article 141c — Failure to meet the leverage ratio buffer requirement
+ An institution shall be considered as failing to meet the leverage ratio buffer requirement for the purposes of Article 141b of this Directive where it does not have Tier 1 capital in the amount needed to meet at the same time the requirement laid down in Article 92(1a) of Regulation (EU) No 575/201…
+ **1.** Where an institution fails to meet its combined buffer requirement or, where applicable, its leverage ratio buffer requirement, it shall prepare a capital conservation plan and submit it to the competent authority no later than five working days after it identified that it was failing to meet…
+ ◄