S.L. 330.9 Art. 45Application of the minimum requirement.

(1) Institutions and entities referred to in paragraphs (b), (c)

or (d) of the definition "entity" in regulation 2(1) meet, at all times, the requirements for own funds and eligible liabilities where required by and in accordance with this regulation and regulations

45A to 45I.

(2) The requirement referred to in sub-regulation (1) shall be calculated in accordance with sub-regulations (3), (4), (5), (7) and (8) of regulation 45C as applicable, as the amount of own funds and eligible liabilities and expressed as percentages of:

(a) the total risk exposure amount of the relevant entity referred to in sub-regulation (1), calculated in accordance with Article 92(3) of the CRR; and

(b) the total exposure measure of the relevant entity referred to in sub-regulation (1), calculated in accordance with Articles 429 and 429a of the CRR.

(3) Pursuant to Article 65 of the IFR, references to Article 92 of the CRR in these regulations relating to the own funds requirements on an individual basis of investment firms other than those referred to in Article 1(2) or (5) of the IFR shall be construed in the following way:

(a) references to point (c) of Article 92(1) of the CRR as regards the total capital ratio requirement in these regulations shall refer to Article 11(1) of the IFR;

(b) references to Article 92(3) of the CRR as regards the total risk exposure amount in these regulations shall refer to the applicable requirement in Article 11(1) of the IFR multiplied by 12.5.

(4) In accordance with the proviso to the definition "the CRD" in regulation 2(1), references in these regulations to Article 104a of the CRD as regards additional own funds requirements of investment firms other than those referred to in Article 1(2) or (5) of the IFR shall be construed as referring to Article 40 of the IFD.

(5) The Authority shall notify the Resolution Committee of any additional own funds requirement imposed pursuant to point (a) of Article 39(2) of the IFD on an investment firm that falls under the scope of these regulations, and of any expectation for adjustments as referred to in Article 41(2) of the IFD in respect of such investment firm.