Version in force , Modified +408 −765§
Amended by Regulation (EU) 2022/2036 32022R2036 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
The provision now also covers third-country entities that would be resolution entities if established in the Union, alongside resolution entities belonging to the same G-SII.
The calculation duty is restructured into two limbs, one for each resolution entity or such third-country entity individually and one for the EU parent institution treated as the sole resolution entity on a consolidated basis, replacing the earlier single consolidated calculation formulation.
The prior distinction between resolution authorities being required to act when the consolidated amount was lower and merely permitted to act when it was higher has been removed, with the text now simply stating that resolution authorities shall act in accordance with Article 45d(4) and Article 45h(2) of Directive 2014/59/EU.
Cited: Art. 12a, v2 (external, EUR-Lex) · Art. 12a, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
texts differ too much for an inline diff; shown separately
Previous version, in force 8 July 2022 02013R0575-20220708
Article 12a Consolidated calculation for G-SIIs with multiple resolution entities Where at least two G-SII entities belonging to the same G-SII are resolution entities, the EU parent institution of that G-SII shall calculate the amount of own funds and eligible liabilities referred to in point (a) of Article 92a(1) of this Regulation. That calculation shall be undertaken on the basis of the consolidated situation of the EU parent institution as if it were the only resolution entity of the G-SII. Where the amount calculated in accordance with the first paragraph of this Article is lower than the sum of the amounts of own funds and eligible liabilities referred to in point (a) of Article 92a(1) of this Regulation of all resolution entities belonging to that G-SII, the resolution authorities shall act in accordance with Articles 45d(4) and 45h(2) of Directive 2014/59/EU. Where the amount calculated in accordance with the first paragraph of this Article is higher than the sum of the amounts of own funds and eligible liabilities referred to in point (a) of Article 92a(1) of this Regulation of all resolution entities belonging to that G-SII, the resolution authorities may act in accordance with Articles 45d(4) and 45h(2) of Directive 2014/59/EU.
this version, in force 14 November 2022 02013R0575-20230101
Article 12a Consolidated calculation for G-SIIs with multiple resolution entities Where 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.