Regulation (EU) 2022/2036

as it stood on 2022-10-19, permalink: /eu-eurlex/32022r2036/2022-10-19

Point-in-time view as at 2022-10-19. This version has been superseded, it applied 2022-10-19 → open. Jump to the version in force today or see exactly what changed next.

Text included, per-article reading view. Deterministic extraction of the verbatim retrieved document; each article carries its own hash and anchor. © European Union, 1998-2026. Reuse permitted with attribution under Commission Decision 2011/833/EU. Consolidated texts have no legal effect; only acts published in the Official Journal are authentic.

Outline, 4 provisions

art_1 art_2 art_3 art_4

art_1 #art_1

Article 1

Regulation (EU) No 575/2013 is amended as follows:

(1)	in Article 4(1), the following point is inserted:‘(130a)“relevant third-country authority” means a third-country authority as defined in Article 2(1), point (90), of Directive 2014/59/EU;’;
‘(130a)	“relevant third-country authority” means a third-country authority as defined in Article 2(1), point (90), of Directive 2014/59/EU;’;

(2)	Article 12a is replaced by the following:‘Article 12aConsolidated calculation for G-SIIs with multiple resolution entitiesWhere at least two G-SII entities that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the EU parent institution of that G-SII shall calculate the amount of own funds and eligible liabilities referred to in Article 92a(1), point (a):(a)for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;(b)for the EU parent institution as if it were the only resolution entity of the G-SII.The calculation referred to in point (b) of the first subparagraph shall be undertaken on the basis of the consolidated situation of the EU parent institution.Resolution authorities shall act in accordance with Article 45d(4) and Article 45h(2) of Directive 2014/59/EU.’;
(a)	for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;
(b)	for the EU parent institution as if it were the only resolution entity of the G-SII.

(2)

Article 12a is replaced by the following:‘Article 12aConsolidated calculation for G-SIIs with multiple resolution entitiesWhere at least two G-SII entities that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the EU parent institution of that G-SII shall calculate the amount of own funds and eligible liabilities referred to in Article 92a(1), point (a):(a)for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;(b)for the EU parent institution as if it were the only resolution entity of the G-SII.The calculation referred to in point (b) of the first subparagraph shall be undertaken on the basis of the consolidated situation of the EU parent institution.Resolution authorities shall act in accordance with Article 45d(4) and Article 45h(2) of Directive 2014/59/EU.’;

(a)

for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;

(b)

for the EU parent institution as if it were the only resolution entity of the G-SII.

(3)	in Article 49(2), the following subparagraph is added: ‘This paragraph shall not apply with regard to the deductions set out in Article 72e(5).’;

(4)	in Article 72b(2), the following subparagraph is added: ‘For the purposes of Article 92b, references to the resolution entity in points (c), (k), (l) and (m) of the first subparagraph of this paragraph shall also be understood as references to an institution that is a material subsidiary of a non-EU G-SII.’;

(5)	Article 72e is amended as follows:(a)paragraph 4 is replaced by the following:‘4. Where an EU parent institution or a parent institution in a Member State that is subject to Article 92a has direct, indirect or synthetic holdings of own funds instruments or eligible liabilities instruments of one or more subsidiaries which do not belong to the same resolution group as that parent institution, the resolution authority of that parent institution, after duly considering the opinion of the resolution authorities or relevant third-country authorities of any subsidiaries concerned, may permit the parent institution to deduct such holdings by deducting a lower amount specified by the resolution authority of that parent institution. That adjusted amount shall be at least equal to the amount (m) calculated as follows: mi = max{0; OPi + LPi – max{0; β · [Oi + Li – max{ri · aRWAi; wi · aLREi}]}}where:i=the index denoting the subsidiary;OPi=the amount of own funds instruments issued by subsidiary i and held by the parent institution;LPi=the amount of eligible liabilities instruments issued by subsidiary i and held by the parent institution;β=percentage of own funds instruments and eligible liabilities instruments issued by subsidiary i and held by the parent undertaking, calculated as follows:;Oi=the amount of own funds of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;Li=the amount of eligible liabilities of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;ri=the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (a), of this Regulation and Article 45c(3), first subparagraph, point (a), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;aRWAi=the total risk exposure amount of the G-SII entity i calculated in accordance with Article 92(3), taking into account the adjustments set out in Article 12a or, for third-country subsidiaries, calculated in accordance with the applicable local regulations;wi=the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (b), of this Regulation and of Article 45c(3), first subparagraph, point (b), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;aLREi=the total exposure measure of the G-SII entity i calculated in accordance with Article 429(4) or, for third-country subsidiaries, calculated in accordance with the applicable local regulations.Where the parent institution is allowed to deduct the adjusted amount in accordance with the first subparagraph, the difference between the amount of holdings of own funds instruments and eligible liabilities instruments referred to in the first subparagraph and that adjusted amount shall be deducted by the subsidiary.’;(b)the following paragraph is added:‘5. Institutions and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU shall deduct from eligible liabilities items their holdings of own funds instruments and eligible liabilities instruments where all of the following conditions are met:(a)the own funds instruments and eligible liabilities instruments are held by an institution or entity that is not itself a resolution entity but that is a subsidiary of a resolution entity or of a third-country entity that would be a resolution entity if it were established in the Union;(b)the institution or entity referred to in point (a) is required to comply with the requirements laid down in Article 92b of this Regulation or in Article 45f of Directive 2014/59/EU;(c)the own funds instruments and eligible liabilities instruments held by the institution or entity referred to in point (a) were issued by an institution or entity referred to in Article 92b(1) of this Regulation or in Article 45f(1) of Directive 2014/59/EU that is not itself a resolution entity and that belongs to the same resolution group as the institution or entity referred to in point (a).By way of derogation from the first subparagraph, holdings of own funds instruments and eligible liabilities instruments shall not be deducted where the institution or entity referred to in point (a) of the first subparagraph is required to comply with the requirement referred to in point (b) of the first subparagraph on a consolidated basis and the institution or entity referred to in point (c) of the first subparagraph is included in the consolidation of the institution or entity referred to in point (a) of the first subparagraph in accordance with Part One, Title II, Chapter 2.For the purposes of this paragraph, the reference to eligible liabilities items shall be understood as a reference to any of the following:(a)eligible liabilities items taken into account for the purposes of complying with the requirement laid down in Article 92b;(b)liabilities that meet the conditions set out in Article 45f(2), point (a), of Directive 2014/59/EU.For the purposes of this paragraph, the reference to own funds instruments and eligible liabilities instruments shall be understood as a reference to any of the following:(a)own funds instruments and eligible liabilities instruments that meet the conditions set out in Article 92b(2) and (3);(b)own funds and liabilities that meet the conditions set out in Article 45f(2) of Directive 2014/59/EU.’;
(a)	paragraph 4 is replaced by the following:‘4. Where an EU parent institution or a parent institution in a Member State that is subject to Article 92a has direct, indirect or synthetic holdings of own funds instruments or eligible liabilities instruments of one or more subsidiaries which do not belong to the same resolution group as that parent institution, the resolution authority of that parent institution, after duly considering the opinion of the resolution authorities or relevant third-country authorities of any subsidiaries concerned, may permit the parent institution to deduct such holdings by deducting a lower amount specified by the resolution authority of that parent institution. That adjusted amount shall be at least equal to the amount (m) calculated as follows: mi = max{0; OPi + LPi – max{0; β · [Oi + Li – max{ri · aRWAi; wi · aLREi}]}}where:i=the index denoting the subsidiary;OPi=the amount of own funds instruments issued by subsidiary i and held by the parent institution;LPi=the amount of eligible liabilities instruments issued by subsidiary i and held by the parent institution;β=percentage of own funds instruments and eligible liabilities instruments issued by subsidiary i and held by the parent undertaking, calculated as follows:;Oi=the amount of own funds of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;Li=the amount of eligible liabilities of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;ri=the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (a), of this Regulation and Article 45c(3), first subparagraph, point (a), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;aRWAi=the total risk exposure amount of the G-SII entity i calculated in accordance with Article 92(3), taking into account the adjustments set out in Article 12a or, for third-country subsidiaries, calculated in accordance with the applicable local regulations;wi=the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (b), of this Regulation and of Article 45c(3), first subparagraph, point (b), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;aLREi=the total exposure measure of the G-SII entity i calculated in accordance with Article 429(4) or, for third-country subsidiaries, calculated in accordance with the applicable local regulations.Where the parent institution is allowed to deduct the adjusted amount in accordance with the first subparagraph, the difference between the amount of holdings of own funds instruments and eligible liabilities instruments referred to in the first subparagraph and that adjusted amount shall be deducted by the subsidiary.’;
	mi = max{0; OPi + LPi – max{0; β · [Oi + Li – max{ri · aRWAi; wi · aLREi}]}}
i	=	the index denoting the subsidiary;
OPi	=	the amount of own funds instruments issued by subsidiary i and held by the parent institution;
LPi	=	the amount of eligible liabilities instruments issued by subsidiary i and held by the parent institution;
β	=	percentage of own funds instruments and eligible liabilities instruments issued by subsidiary i and held by the parent undertaking, calculated as follows:;
Oi	=	the amount of own funds of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;
Li	=	the amount of eligible liabilities of subsidiary i, not taking into account the deduction calculated in accordance with this paragraph;
ri	=	the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (a), of this Regulation and Article 45c(3), first subparagraph, point (a), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;
aRWAi	=	the total risk exposure amount of the G-SII entity i calculated in accordance with Article 92(3), taking into account the adjustments set out in Article 12a or, for third-country subsidiaries, calculated in accordance with the applicable local regulations;
wi	=	the ratio applicable to subsidiary i at the level of its resolution group in accordance with Article 92a(1), point (b), of this Regulation and of Article 45c(3), first subparagraph, point (b), of Directive 2014/59/EU or, for third-country subsidiaries, an equivalent resolution requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds or eligible liabilities under this Regulation;
aLREi	=	the total exposure measure of the G-SII entity i calculated in accordance with Article 429(4) or, for third-country subsidiaries, calculated in accordance with the applicable local regulations.
(b)	the following paragraph is added:‘5. Institutions and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU shall deduct from eligible liabilities items their holdings of own funds instruments and eligible liabilities instruments where all of the following conditions are met:(a)the own funds instruments and eligible liabilities instruments are held by an institution or entity that is not itself a resolution entity but that is a subsidiary of a resolution entity or of a third-country entity that would be a resolution entity if it were established in the Union;(b)the institution or entity referred to in point (a) is required to comply with the requirements laid down in Article 92b of this Regulation or in Article 45f of Directive 2014/59/EU;(c)the own funds instruments and eligible liabilities instruments held by the institution or entity referred to in point (a) were issued by an institution or entity referred to in Article 92b(1) of this Regulation or in Article 45f(1) of Directive 2014/59/EU that is not itself a resolution entity and that belongs to the same resolution group as the institution or entity referred to in point (a).By way of derogation from the first subparagraph, holdings of own funds instruments and eligible liabilities instruments shall not be deducted where the institution or entity referred to in point (a) of the first subparagraph is required to comply with the requirement referred to in point (b) of the first subparagraph on a consolidated basis and the institution or entity referred to in point (c) of the first subparagraph is included in the consolidation of the institution or entity referred to in point (a) of the first subparagraph in accordance with Part One, Title II, Chapter 2.For the purposes of this paragraph, the reference to eligible liabilities items shall be understood as a reference to any of the following:(a)eligible liabilities items taken into account for the purposes of complying with the requirement laid down in Article 92b;(b)liabilities that meet the conditions set out in Article 45f(2), point (a), of Directive 2014/59/EU.For the purposes of this paragraph, the reference to own funds instruments and eligible liabilities instruments shall be understood as a reference to any of the following:(a)own funds instruments and eligible liabilities instruments that meet the conditions set out in Article 92b(2) and (3);(b)own funds and liabilities that meet the conditions set out in Article 45f(2) of Directive 2014/59/EU.’;
(a)	the own funds instruments and eligible liabilities instruments are held by an institution or entity that is not itself a resolution entity but that is a subsidiary of a resolution entity or of a third-country entity that would be a resolution entity if it were established in the Union;
(b)	the institution or entity referred to in point (a) is required to comply with the requirements laid down in Article 92b of this Regulation or in Article 45f of Directive 2014/59/EU;
(c)	the own funds instruments and eligible liabilities instruments held by the institution or entity referred to in point (a) were issued by an institution or entity referred to in Article 92b(1) of this Regulation or in Article 45f(1) of Directive 2014/59/EU that is not itself a resolution entity and that belongs to the same resolution group as the institution or entity referred to in point (a).
(a)	eligible liabilities items taken into account for the purposes of complying with the requirement laid down in Article 92b;
(b)	liabilities that meet the conditions set out in Article 45f(2), point (a), of Directive 2014/59/EU.
(a)	own funds instruments and eligible liabilities instruments that meet the conditions set out in Article 92b(2) and (3);
(b)	own funds and liabilities that meet the conditions set out in Article 45f(2) of Directive 2014/59/EU.’;

(6)	in Article 92a, paragraph 3 is deleted;

(7)

in Article 113, paragraph 1 is replaced by the following:‘1. To calculate risk-weighted exposure amounts, risk weights shall be applied to all exposures, unless those exposures are deducted from own funds or are subject to the treatment set out in Article 72e(5), first subparagraph, in accordance with the provisions of Section 2. The application of risk weights shall be based on the exposure class to which the exposure is assigned and, to the extent specified in Section 2, its credit quality. Credit quality may be determined by reference to the credit assessments of ECAIs or the credit assessments of export credit agencies in accordance with Section 3.’;

(8)

in Article 151, paragraph 1 is replaced by the following:‘1. The risk-weighted exposure amounts for credit risk for exposures belonging to one of the exposure classes referred to in Article 147(2), points (a) to (e) and point (g), shall, unless those exposures are deducted from own funds or are subject to the treatment set out in Article 72e(5), first subparagraph, be calculated in accordance with Sub-section 2.’;

(9)	in Article 429a(1), the following point is added:‘(q)the exposures that are subject to the treatment set out in Article 72e(5), first subparagraph.’;
‘(q)	the exposures that are subject to the treatment set out in Article 72e(5), first subparagraph.’;

(10)	in Part Ten, Title I, Chapter 1, Section 3, the following sub-section is inserted: ‘Sub-Section 3aDeductions from eligible liabilities itemsArticle 477aDeductions from eligible liabilities items1. By way of derogation from Article 72e(4) and until 31 December 2024, the resolution authority of a parent institution, after duly considering the opinion of the resolution authorities or relevant third-country authorities of any subsidiaries concerned, may permit that the adjusted amount mi be calculated by using the following definition of ri, and wi:ri=the total risk-based capital requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds under this Regulation;wi=the total non-risk-based Tier 1 capital requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered Tier 1 capital under this Regulation.2. The resolution authority may grant the permission referred to in paragraph 1 where the subsidiary is established in a third country that does not yet have in place an applicable local resolution regime if at least one of the following conditions is met:(a)there is no current or foreseen material practical or legal impediment to the prompt transfer of assets from the subsidiary to the parent institution;(b)the relevant third-country authority of the subsidiary has provided an opinion to the resolution authority of the parent institution that assets equal to the amount to be deducted by the subsidiary in accordance with Article 72e(4), second subparagraph, could be transferred from the subsidiary to the parent institution.’.
ri	=	the total risk-based capital requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered own funds under this Regulation;
wi	=	the total non-risk-based Tier 1 capital requirement applicable to subsidiary i in the third country where it has its head office, insofar as that requirement is met with instruments that would be considered Tier 1 capital under this Regulation.
(a)	there is no current or foreseen material practical or legal impediment to the prompt transfer of assets from the subsidiary to the parent institution;
(b)	the relevant third-country authority of the subsidiary has provided an opinion to the resolution authority of the parent institution that assets equal to the amount to be deducted by the subsidiary in accordance with Article 72e(4), second subparagraph, could be transferred from the subsidiary to the parent institution.’.

art_2 #art_2

Article 2

Directive 2014/59/EU is amended as follows:

(1)	in Article 45d, paragraph 4 is replaced by the following:‘4. For the purposes of Article 45h(2), where more than one G-SII entity that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the relevant resolution authorities shall calculate the amount referred to in paragraph 3 of this Article:(a)for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;(b)for the Union parent undertaking as if it were the only resolution entity of the G-SII.’;
(a)	for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;
(b)	for the Union parent undertaking as if it were the only resolution entity of the G-SII.’;

(1)

in Article 45d, paragraph 4 is replaced by the following:‘4. For the purposes of Article 45h(2), where more than one G-SII entity that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the relevant resolution authorities shall calculate the amount referred to in paragraph 3 of this Article:(a)for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;(b)for the Union parent undertaking as if it were the only resolution entity of the G-SII.’;

(a)

for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union;

(b)

for the Union parent undertaking as if it were the only resolution entity of the G-SII.’;

(2)	in Article 45f, paragraph 6 is deleted;

(3)	in Article 45h, paragraph 2 is replaced by the following:‘2. Where more than one G-SII entity that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the resolution authorities referred to in paragraph 1 shall discuss and, where appropriate and consistent with the G-SII’s resolution strategy, agree on the application of Article 72e of Regulation (EU) No 575/2013 and any adjustment to minimise or eliminate the difference between the sum of the amounts referred to in Article 45d(4), point (a), of this Directive and Article 12a, point (a), of Regulation (EU) No 575/2013 for individual resolution entities or third-country entities and the sum of the amounts referred to in Article 45d(4), point (b), of this Directive and Article 12a, point (b), of Regulation (EU) No 575/2013.Such an adjustment may be applied subject to the following:(a)the adjustment may be applied in respect of differences in the calculation of the total risk exposure amounts between the relevant Member States or third countries by adjusting the level of the requirement;(b)the adjustment shall not be applied to eliminate differences resulting from exposures between resolution groups.The sum of the amounts referred to in Article 45d(4), point (a), of this Directive and Article 12a, point (a), of Regulation (EU) No 575/2013 for individual resolution entities or third-country entities that would be resolution entities if they were established in the Union shall not be lower than the sum of the amounts referred to in Article 45d(4), point (b), of this Directive and Article 12a, point (b), of Regulation (EU) No 575/2013.’;
(a)	the adjustment may be applied in respect of differences in the calculation of the total risk exposure amounts between the relevant Member States or third countries by adjusting the level of the requirement;
(b)	the adjustment shall not be applied to eliminate differences resulting from exposures between resolution groups.

(3)

in Article 45h, paragraph 2 is replaced by the following:‘2. Where more than one G-SII entity that are part of the same G-SII are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the resolution authorities referred to in paragraph 1 shall discuss and, where appropriate and consistent with the G-SII’s resolution strategy, agree on the application of Article 72e of Regulation (EU) No 575/2013 and any adjustment to minimise or eliminate the difference between the sum of the amounts referred to in Article 45d(4), point (a), of this Directive and Article 12a, point (a), of Regulation (EU) No 575/2013 for individual resolution entities or third-country entities and the sum of the amounts referred to in Article 45d(4), point (b), of this Directive and Article 12a, point (b), of Regulation (EU) No 575/2013.Such an adjustment may be applied subject to the following:(a)the adjustment may be applied in respect of differences in the calculation of the total risk exposure amounts between the relevant Member States or third countries by adjusting the level of the requirement;(b)the adjustment shall not be applied to eliminate differences resulting from exposures between resolution groups.The sum of the amounts referred to in Article 45d(4), point (a), of this Directive and Article 12a, point (a), of Regulation (EU) No 575/2013 for individual resolution entities or third-country entities that would be resolution entities if they were established in the Union shall not be lower than the sum of the amounts referred to in Article 45d(4), point (b), of this Directive and Article 12a, point (b), of Regulation (EU) No 575/2013.’;

(a)

the adjustment may be applied in respect of differences in the calculation of the total risk exposure amounts between the relevant Member States or third countries by adjusting the level of the requirement;

(b)

the adjustment shall not be applied to eliminate differences resulting from exposures between resolution groups.

(4)	in Article 129, the following paragraph is added: ‘By 31 December 2022, the Commission shall review the impact of the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities on the level playing field between different types of banking group structures, including where groups have an operating company between the holding company identified as a resolution entity and its subsidiaries. It shall assess in particular the following:(a)the possibility to allow entities that are not themselves resolution entities to comply with the minimum requirement for own funds and eligible liabilities on a consolidated basis;(b)the treatment, under the rules governing the minimum requirement for own funds and eligible liabilities, of entities whose resolution plan provides that they are to be wound up under normal insolvency proceedings;(c)the appropriateness of limiting the amount of deductions required pursuant to Article 72e(5) of Regulation (EU) No 575/2013.The Commission shall submit a report thereon to the European Parliament and to the Council. Where appropriate, that report shall be accompanied by a legislative proposal, taking into account the application date of Article 72e(5) of Regulation (EU) No 575/2013.’.
(a)	the possibility to allow entities that are not themselves resolution entities to comply with the minimum requirement for own funds and eligible liabilities on a consolidated basis;
(b)	the treatment, under the rules governing the minimum requirement for own funds and eligible liabilities, of entities whose resolution plan provides that they are to be wound up under normal insolvency proceedings;
(c)	the appropriateness of limiting the amount of deductions required pursuant to Article 72e(5) of Regulation (EU) No 575/2013.

art_3 #art_3

Article 3

Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with Article 2, points (1) and (3), by 15 November 2023. They shall immediately communicate the text of those measures to the Commission.

When Member States adopt those measures, they shall contain a reference to this Regulation or be accompanied by such a reference on the occasion of their official publication. The methods of making such reference shall be laid down by Member States.

Member States shall communicate to the Commission the text of the main measures of national law which they adopt in the field covered by Article 2, points (1) and (3), of this Regulation.

art_4 #art_4

Article 4

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 14 November 2022.

However, Article 1, point (3), point (5)(b), and points (7), (8) and (9), shall apply from 1 January 2024.

Provenance and validity dates, identifier, hash

as of	2022-10-19 → this version applied
valid	2022-10-19 → open publisher-asserted
type	REG Regulation (EU) 2022/2036 of the European Parliament and of the Council of 19 October 2022 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 (Text with EEA relevance)
language	en
published	2022-10-19
lex_id	eu-eurlex:32022r2036:2022-10-19
record sha256	757e12e14fec6cb244f6ce0f99ff9a2c24882ec4de9bbc06ead23a36c1fc1268

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