RegAlertRule · CBI · 4 Dec 2024 · Reglur 1414/2024
Rules on the Systemic Risk Capital Buffer for Financial Undertakings
Financial undertakings authorised to receive deposits must maintain a systemic risk capital buffer of 2% of the risk base for domestic risk exposures, on a consolidated and individual basis as applicable. The Rules enter into force immediately and repeal Rules No. 323/2020 on the systemic risk capital buffer for financial undertakings.
No. 1414/2024
3 December 2024
RULES
on the systemic risk capital buffer for financial undertakings.
Article 1 Scope.
These Rules apply to financial undertakings that are authorised to receive deposits pursuant to Article 3, cf. Article 20, of the Act on Financial Undertakings, No. 161/2002, and that are required to maintain a systemic risk capital buffer pursuant to Article 86 g of the same Act.
The capital buffer shall be maintained on a consolidated and individual basis, as applicable, cf. Article 83 d of the Act on Financial Undertakings.
Article 2 Ratio of the systemic risk capital buffer.
Financial undertakings that are authorised to receive deposits shall maintain a systemic risk capital buffer amounting to 2% of the risk base, in respect of domestic risk exposures, cf. Article 86 h and point 1 of Article 86 i of the Act on Financial Undertakings.
Article 3 Entry into force.
These Rules, which are laid down on the basis of Article 86 g of the Act on Financial Undertakings, have been approved by the Financial Stability Committee of the Central Bank of Iceland and enter into force immediately. Upon their entry into force, Rules No. 323/2020 on the systemic risk capital buffer for financial undertakings shall be repealed.
Central Bank of Iceland, 3 December 2024.
| Ásgeir Jónsson Governor of the Central Bank. | Haukur C. Benediktsson Managing Director. |
|---|
Division B - Publ.: 4 December 2024
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- Obligation 2
- Definition / condition 3
- background, boilerplate
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (2)
- Supersedes
- Rules No. 323/2020 on the systemic risk capital buffer for financial undertakingsNot in RegAlert
“Upon their entry into force, Rules No. 323/2020 on the systemic risk capital buffer for financial undertakings shall be repealed.”
- Issued under
- Act No. 161 of 2002Not in RegAlert
“These Rules apply to financial undertakings that are authorised to receive deposits pursuant to Article 3, cf. Article 20, of the Act on Financial Undertakings, No. 161/2002”
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