Consultation Supervisory Regulation usage business projections

De Nederlandsche Bank N.V. amends the Specific Provisions IFR and IFD Regulation by inserting Article 3:4, which requires investment firms to replace missing historical data with business projections submitted under MiFID II Article 7 when calculating K-factors. This substitution is permitted only until the relevant historical data becomes available, at which point the use of projections must cease. The business projections used for individual K-factor calculations must also be applied to the aggregated consolidated calculation of the respective K-factor requirement.

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80-051-1
DNB
Regulation of De Nederlandsche Bank N.V. of [..] amending the Specific Provisions IFR and IFD Regulation in connection with the use of business projections for the calculation of K-factors in the absence of historical data (Regulation on the use of business projections) De Nederlandsche Bank N.V., [After consultation]; Having regard to Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on prudential requirements for investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014, in particular Articles 17(2), 18(2), 19(3), 20(3), and 33(4); DECIDES:
ARTICLE 1
The Specific Provisions IFR and IFD Regulation is amended as follows:
A
After Article 3:3, an article is inserted, reading:
Article 3:4. – Use of business projections in the absence of historical data
An investment firm replaces missing historical data referred to in Articles 17(2), 18(2), 19(3), 20(3), and 33(4) of the IFR with data based on the business projections submitted by the investment firm in accordance with Article 7 of Directive 2014/65/EU.
ARTICLE 2
This regulation enters into force on the day after the date of issue of the Staatscourant in which this regulation is published.
Consultation version – Regulation on the use of business projections

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Lineage: In force

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Source: De Nederlandsche Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works