What changed, Commission Delegated Regulation (EU) No 1222/2014 of 8 October 2014 supplementing Directive 2013/36/EU

+ ### Article 1 — Subject matter and scope
− ### art_1
− Article 1
− 
+ ### Article 2 — Definitions
− ### art_2
− 
− Article 2
+ (1) ‘Relevant entity’ means an EU parent institution or EU parent financial holding company or EU parent mixed financial holding company or an institution that is not a subsidiary of an EU parent institution or EU parent financial holding company or EU parent mixed financial holding company;
− | (1) | ‘Relevant entity’ means an EU parent institution or EU parent financial holding company or EU parent mixed financial holding company or an institution that is not a subsidiary of an EU parent institution or EU parent financial holding company or EU parent mixed financial holding company; |
− | --- | --- |
+ (2) ‘Indicator value’ means for each indicator set out in Article 6 and for each relevant entity of the sample the individual value of the indicator and for each bank authorised in a third country a comparable individual value publicly disclosed in accordance with internationally agreed standards;
− | (2) | ‘Indicator value’ means for each indicator set out in Article 6 and for each relevant entity of the sample the individual value of the indicator and for each bank authorised in a third country a comparable individual value publicly disclosed in accordance with internationally agreed standard…
− | --- | --- |
− 
− | (3) | ‘Denominator’ means for each indicator the total aggregate value of the indicator values of the relevant entities and banks authorised in third countries of the sample; |
− | --- | --- |
+ (3) ‘Denominator’ means for each indicator the total aggregate value of the indicator values of the relevant entities and banks authorised in third countries of the sample;
− | (4) | ‘Cut-off score’ means a score value determining the lowest boundary and the boundaries between the five subcategories as defined in Article 131(9) of Directive 2013/36/EU. |
− | --- | --- |
+ (4) ‘Cut-off score’ means a score value determining the lowest boundary and the boundaries between the five subcategories as defined in Article 131(9) of Directive 2013/36/EU.
− ### art_3
+ ### Article 3 — Common parameters for the methodology
− Article 3
+ 2. The relevant authority shall report the indicator values of each relevant entity with an exposure measure above EUR 200 billion which is authorised within its jurisdiction to the EBA not later than 31 July each year. The relevant authority shall ensure that the indicator values are identical to t…
− 2. The relevant authority shall report the indicator values of each relevant entity with an exposure measure above EUR 200 billion which is authorised within its jurisdiction to the EBA not later than 31 July each year. The relevant authority shall ensure that the indicator values are identical to t…
+ ### Article 4 — Identification procedure
− ### art_4
− Article 4
− 
+ ### Article 5 — Identification as G-SII, determination of the scores and allocation to subcategories
− ### art_5
− Article 5
− 
+ (a) subcategory 1 shall encompass scores from 130 to 229 base points;
− | (a) | subcategory 1 shall encompass scores from 130 to 229 base points; |
− | --- | --- |
+ (b) subcategory 2 shall encompass scores from 230 to 329 base points;
− | (b) | subcategory 2 shall encompass scores from 230 to 329 base points; |
− | --- | --- |
+ (c) subcategory 3 shall encompass scores from 330 to 429 base points;
− | (c) | subcategory 3 shall encompass scores from 330 to 429 base points; |
− | --- | --- |
+ (d) subcategory 4 shall encompass scores from 430 to 529 base points;
− | (d) | subcategory 4 shall encompass scores from 430 to 529 base points; |
− | --- | --- |
+ (e) subcategory 5 shall encompass scores from 530 to 629 base points.
− | (e) | subcategory 5 shall encompass scores from 530 to 629 base points. |
− | --- | --- |
+ 6. The decisions referred to in paragraphs 4 and 5 may be supported by ancillary data, which shall not be indicators of the probability that the relevant entity fails. Such decisions shall comprise well documented and verifiable quantitative and qualitative information.
− 6. The decisions referred to in paragraphs 4 and 5 may be supported by ancillary indicators, which shall not be indicators of the probability that the relevant entity fails. Such decisions shall comprise well documented and verifiable quantitative and qualitative information.
+ ### Article 6 — Indicators
− ### art_6
+ 1. The category measuring the size of the group shall consist of one indicator equal to the total exposure of the group.
− Article 6
+ 2. The category measuring the interconnectedness of the group with the financial system shall consist of all of the following indicators:
− 1. The category measuring the size of the group shall consist of one indicator equal to the total exposure of the group as further specified in the Annex.
− 
− 2. The category measuring the interconnectedness of the group with the financial system shall consist of all of the following indicators, as further specified in the Annex:
+ (a) intra-financial system assets;
− | (a) | intra-financial system assets; |
− | --- | --- |
+ (b) intra-financial system liabilities;
− | (b) | intra-financial system liabilities; |
− | --- | --- |
+ (c) securities outstanding.
− | (c) | securities outstanding. |
− | --- | --- |
+ 3. The category measuring the substitutability of the services or of the financial infrastructure provided by the group shall consist of all of the following indicators:
− 3. The category measuring the substitutability of the services or of the financial infrastructure provided by the group shall consist of all of the following indicators, as further specified in the Annex:
+ (a) assets under custody;
− | (a) | assets under custody; |
− | --- | --- |
+ (b) payments activity;
− | (b) | payments activity; |
− | --- | --- |
+ (c) underwritten transactions in debt and equity markets.
− | (c) | underwritten transactions in debt and equity markets. |
− | --- | --- |
+ 4. The category measuring the complexity of the group shall consist of all of the following indicators:
− 4. The category measuring the complexity of the group shall consist of all of the following indicators, as further specified in the Annex:
+ (a) notional amount of over-the-counter derivatives;
− | (a) | notional amount of over-the-counter derivatives; |
− | --- | --- |
+ (b) assets included in the level 3 of fair-value measured in accordance with Delegated Regulation (EU) No 1255/2012 (2);
− | (b) | assets included in the level 3 of fair-value measured in accordance with Commission Regulation (EU) No 1255/2012 (4); |
− | --- | --- |
+ (c) trading and available-for-sale securities.
− | (c) | trading and available-for-sale securities. |
− | --- | --- |
+ 5. The category measuring the cross border activity of the group shall consist of the following indicators:
− 5. The category measuring the cross border activity of the group shall consist of the following indicators, as further specified in the Annex:
+ (a) cross-jurisdictional claims;
− | (a) | cross-jurisdictional claims; |
− | --- | --- |
+ (b) cross-jurisdictional liabilities.
− | (b) | cross-jurisdictional liabilities. |
− | --- | --- |
+ ### Article 7 — Transitional provisions
− ### art_7
+ By way of derogation from the first subparagraph of Article 3(1), the EBA shall determine the sample to identify a relevant entity as a G-SII for the year 2014 by 14 January 2015. The relevant authorities shall report the indicator values regarding relevant entities within that sample based on data …
− Article 7
+ ### Article 8 — Entry into force
− By way of derogation from the first subparagraph of Article 3(1), the EBA shall determine the sample to identify a relevant entity as a G-SII for the year 2014 by 14 January 2015. The relevant authorities shall report the indicator values regarding relevant entities within that sample based on data …
+ This Regulation shall enter into force on the twentieth day following that of its publication in the *Official Journal of the European Union*.
− By way of derogation from Article 4(2), the identification of a relevant entity as a G-SII and the subcategory it is allocated to, based on the scores for the year 2014, shall apply from 1 January 2016.
+ It shall apply from 1 January 2015.
− ### art_8
+ This Regulation shall be binding in its entirety and directly applicable in all Member States.
− Article 8
+ (1) Commission Implementing Regulation (EU) No 1030/2014 of 29 September 2014 laying down implementing technical standards with regard to the uniform formats and date for the disclosure of the values used to identify global systemically important institutions according to Regulation (EU) No 575/2013…
− This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
+ (2) Commission Regulation (EU) No 1255/2012 of 11 December 2012 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 12, Int…
− It shall apply from 1 January 2015.