Version in force , Inserted +2,191 −0§
Amended by Regulation (EU) 2019/877 32019R0877 on EUR-Lex (external, EUR-Lex)
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Explanation, written by a model and checked against the cited text
Article 12e is a newly inserted provision setting out how the minimum requirement for own funds and eligible liabilities under Article 12a(1) is determined for resolution entities that are G-SIIs or part of a G-SII, and for Union material subsidiaries of non-EU G-SIIs, each by reference to specified own funds requirements plus any additional amount set by the Board for that entity.
It further states that the Board may impose such an additional requirement only where the baseline requirement is insufficient to fulfil the conditions in Article 12d and only to the extent needed to fulfil those conditions, and that any decision to impose an additional requirement must contain reasons and be reviewed without undue delay to reflect changes in the related requirement under Article 104a of Directive 2013/36/EU.
Cited: Art. 12e, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex
Inserted in this version 02014R0806-20201228
Article 12e Determination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs and Union material subsidiaries of non-EU G-SIIs 1. The requirement referred to in Article 12a(1) for a resolution entity that is a G-SII or part of a G-SII shall consist of the following: (a) the requirements referred to in Articles 92a and 494 of Regulation (EU) No 575/2013; and (b) any additional requirement for own funds and eligible liabilities that has been determined by the Board specifically in relation to that entity in accordance with paragraph 3 of this Article. 2. The requirement referred to in Article 12a(1) for a Union material subsidiary of a non-EU G-SII shall consist of the following: (a) the requirements referred to in Articles 92b and 494 of Regulation (EU) No 575/2013; and (b) any additional requirement for own funds and eligible liabilities that has been determined by the Board specifically in relation to that material subsidiary in accordance with paragraph 3 of this Article which is to be met using own funds and liabilities that meet the conditions of Article 12g and Article 92b(2) of Regulation (EU) No 575/2013. 3. The Board shall impose an additional requirement for own funds and eligible liabilities referred to in point (b) of paragraph 1 and point (b) of paragraph 2 only: (a) where the requirement referred to in point (a) of paragraph 1 or point (a) of paragraph 2 of this Article is not sufficient to fulfil the conditions set out in Article 12d; and (b) to an extent that ensures that the conditions set out in Article 12d are fulfilled. 4. Any decision by the Board to impose an additional requirement for own funds and eligible liabilities under point (b) of paragraph 1 of this Article or point (b) of paragraph 2 of this Article shall contain the reasons for that decision, including a full assessment of the elements referred to in paragraph 3 of this Article, and shall be reviewed by the Board without undue delay to reflect any changes in the level of the requirement referred to in Article 104a of Directive 2013/36/EU that applies to the resolution group or the Union material subsidiary of a non-EU G-SII.