Circular to Credit Institutions on Annex 2C of Banking Rule BR/12 and Banking Rule BR/15

Circular 07 th February 2019 Circular to Credit Institutions on Annex 2C of Banking Rule BR/12 and Banking Rule BR/15 The Authority is hereby amending Annex 2C of Banking Rule BR/12 on ‘The Supervisory Review Process of Credit Institutions Authorised under the Banking Act 1994’ and Banking Rule BR/15 on ‘Capital Buffers of Credit Institutions Authorised under the Banking Act 1994’. Revisions to Annex 2C of BR/12 Minor revisions were undertaken to Annex 2C of BR/12 whereby the definitions of ‘Discretionary pension benefits’ and ‘Securitisation special purpose entity (SPPE)’ were inserted. Such definitions will apply to BR/12 as well as the other Annexes to the said Rule. The definitions reflect those provided for in Directive 2013/36/EU of the European Parliament and of the Council of 26th June 2013 on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (‘CRD IV’). Revisions to BR/15 Likewise, minor revisions were undertaken to the BR/15 in relation to the inclusion of the definition of ‘Discretionary pension benefits’ which also reflects the definition provided for in Directive 2013/36/EU of the European Parliament and of the Council of 26th June 2013 on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (‘CRD IV’). The revised Annex 2C of BR/12 and BR/15 shall come into force with immediate effect. Any queries in relation to the above should be directed to Banking Supervision (Policy Section) on bsupolicy@mfsa.com.mt. Communications Unit