FFFS 2014:12

Finansinspektionen’s regulations regarding prudential requirements and capital buffers

In force from 2014-08-02

Summary

The regulations contain rules on consolidated situation, own funds, own fund requirements, large exposures, liquidity, reporting, disclosure of information, capital buffers and documentation of the undertakings' capital and liquidity assessment procedures.

The regulations are part of the Swedish implementation of the Basel III Agreement that is being introduced within the EU through the Capital Requirements Regulation and the Capital Requirements Directive.

Amendments

The regulatory amendments entail in part new or amended regulations regarding

  • disclosure of information
  • exemption for some undertakings from applying Article 413 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012
  • which information a holding company must submit to Finansinspektionen in conjunction with applications for approval or exemption from the requirement on approval pursuant to the Special Supervision of Credit Institutions and Investment Firms Act (2014:968)
  • interventions and restrictions if the leverage ratio buffer requirement is not met.

The regulations enter into force on 28 June 2021 with regard to Chapter 1, sections 3 and 5, Chapter 6, section 1, and Chapter 8, sections 2 and 4–11, and otherwise on 29 December 2020. The provision in Chapter 9, sections 9–11 will be applied for the first time on 1 January 2023. Amendment 2020:32

The regulatory amendments introduce new regulations regarding

  • a notification obligation for the issuance of capital instruments
  • disclosure of information regarding own funds requirements and own funds
  • the threshold for when a default is considered to have occurred.
  • The amendments also grant Finansinspektionen the possibility of deciding on consolidation under certain conditions. The provisions regarding groups of connected clients are also repealed.

The regulations enter into force on 15 June 2019. Amendment 2019:6

FI is introducing an exemption from the requirements set out in Article 129(1)(c) of the Capital Requirements Regulation by means of an amendment to Finansinspektionen's regulations (FFFS 2014:12) regarding prudential requirements and capital buffers.

FI is introducing the exemption to avoid the concentration problems on the Swedish market that could arise if issuers of covered bonds were referred to only a few derivative counterparties.

EBA has published an opinion on FI's decision and finds it to be justified.
The regulatory amendment enters into force on 31 March 2015. Amendment 2015:3

Documents

Changes

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