Version in force , Inserted +1,422 −0§
Amended by Regulation (EU) 2019/876 32019R0876 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
A new Article 92b has been added, setting an own funds and eligible liabilities requirement for institutions that are material subsidiaries of non-EU G-SIIs and are not resolution entities, fixed at 90% of the requirement laid down in Article 92a.
It further specifies that Additional Tier 1, Tier 2 and eligible liabilities instruments only count toward that requirement if owned by the ultimate parent of the non-EU G-SII and issued through entities established in the same third country as that parent or in a Member State, and it sets additional ranking and write-down/conversion conditions that eligible liabilities instruments must meet.
Cited: Art. 92b, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex
Inserted in this version 02013R0575-20190627
Article 92b Requirement for own funds and eligible liabilities for non-EU G-SIIs 1. Institutions that are material subsidiaries of non-EU G-SIIs and that are not resolution entities shall at all times satisfy requirements for own funds and eligible liabilities equal to 90 % of the requirements for own funds and eligible liabilities laid down in Article 92a. 2. For the purpose of complying with paragraph 1, Additional Tier 1, Tier 2 and eligible liabilities instruments shall only be taken into account where those instruments are owned by the ultimate parent undertaking of the non-EU G-SII and have been issued directly or indirectly through other entities within the same group, provided that all such entities are established in the same third country as that ultimate parent undertaking or in a Member State. 3. An eligible liabilities instrument shall only be taken into account for the purpose of complying with paragraph 1 where it fulfils all the following additional conditions: (a) in the event of normal insolvency proceedings as defined in point (47) of Article 2(1) of Directive 2014/59/EU, the claim resulting from the liability ranks below claims resulting from liabilities that do not fulfil the conditions set out in paragraph 2 of this Article and that do not qualify as own funds; (b) it is subject to the write-down or conversion powers in accordance with Articles 59 to 62 of Directive 2014/59/EU.