Version in force , Modified +442 −19§
Amended by Regulation (EU) 2019/2033 32019R2033 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2021/558 32021R0558 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2020/873 32020R0873 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
Point (a)(ii) now refers to the requirements of Directive 2013/36/EU with an added word 'of' before the directive reference, a minor wording change.
A new point (iii) was inserted covering an intermediate financial holding company or intermediate mixed financial holding company subject to this Regulation's requirements on a sub-consolidated basis, or an intermediate investment holding company subject to Regulation (EU) 2019/2033 on a consolidated basis, and a new point (iv) was added covering an investment firm, while the former point (iii) on third-country intermediate financial holding companies is now renumbered as point (v) with rephrased conditional wording about the prudential requirements and the Commission's decision under Article 107(4).
Cited: Art. 81, v2 (external, EUR-Lex) · Art. 81, v1 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 28 December 2020 02013R0575-20201228 → this version, in force 28 June 2021 02013R0575-20210629
Article 81
Minority interests that qualify for inclusion in consolidated Common Equity Tier 1 capital
1. Minority interests shall comprise the sum of Common Equity Tier 1 items of a subsidiary where the following conditions are met:
(a) the subsidiary is one of the following:
(i) an institution;
(ii) an undertaking that is subject by virtue of applicable national law to the requirements of this Regulation and of Directive 2013/36/EU;
(iii) an intermediate financial holding company or intermediate mixed financial holding company that is subject to the requirements of this Regulation on a sub‐consolidated basis, or an intermediate investment holding company that is subject to the requirements of Regulation (EU) 2019/2033 on a consolidated basis;
(iv) an investment firm;
(v) an intermediate financial holding company in a third country country, provided that that intermediate financial holding company is subject to prudential requirements as stringent as those applied to credit institutions of that third country and where provided that the Commission has decided adopted a decision in accordance with Article 107(4) determining that those prudential requirements are at least equivalent to those of this Regulation;
(b) the subsidiary is included fully in the consolidation pursuant to Chapter 2 of Title II of Part One;
(c) the Common Equity Tier 1 items, referred to in the introductory part of this paragraph, are owned by persons other than the undertakings included in the consolidation pursuant to Chapter 2 of Title II of Part One.
2. Minority interests that are funded directly or indirectly, through a special purpose entity or otherwise, by the parent undertaking of the institution, or its subsidiaries shall not qualify as consolidated Common Equity Tier 1 capital.