Regulatory Alerts2015-11-30
Delegated Regulations on Liquidity Coverage Requirement and Leverage Ratio - Clarifications on the Disciplinary Applicable to SIMs and SIM Groups
The Bank of Italy issued clarifications regarding the application of the Liquidity Coverage Requirement (LCR) and Leverage Ratio (LR) delegated regulations to Securities Investment Firms (SIMs) and SIM groups. The LCR requirements do not apply to SIMs, meaning references to Chapter 11 of Circular 285/2013 must be interpreted according to the pre-update version, while the LR calculation modifications do apply to SIMs. The document provides an excerpt of the relevant prudential supervision provisions applicable to SIMs and SIM groups as of March 31, 2014.
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