S.L. 330.9 Art. 45DDetermination of the minimum requirement for own funds and eligible liabilities for resolution entities of G-SIIs andUnionmaterial subsidiaries of non-EU G-SIIs.

(1)The requirement referred to in regulation 45(1) for a resolution entity that is a G-SI or part of a G-SII shall consist of the following:

(a) The requirement referred to in Articles 92a and 494 of the CRR; and

(b) any additional requirement for own funds and eligible liabilities that has been determined by the Resolution

Committee specifically in relation to that entity in accordance with sub-regulation (3).

(2) The requirement referred to in regulation 45(1) for a Union material subsidiary of a non-EU G-SII shall consist of the following:

(a) the requirements referred to in Articles 92b and 494 of Regulation (EU) No 575/2013; and

(b) any additional requirement for own funds and eligible liabilities that has been determined by the Resolution Committee specifically in relation to that material subsidiary in accordance with sub-regulation (3), which is to be met using own funds and liabilities that meet the conditions of regulations 45F and 89(2).

(3) The Resolution Committee shall impose an additional requirement for own funds and eligible liabilities referred to in sub-regulation (1)(b) and sub-regulation (2)(b) only:

(a) where the requirement referred to in paragraph (a) of sub-regulation (1) or paragraph (a) of sub-regulation

(2) is not sufficient to fulfil the conditions set out in regulation 45C; and

(b) to an extent that ensures that the conditions set out in regulation 45C are fulfilled.

(4) For the purpose of regulation 45H(2), where more than one G-SII entity, that are part of the same G-SII, are resolution entities or third-country entities that would be resolution entities if they were established in the Union, the relevant European resolution authorities shall calculate the amount referred to in sub-regulation 3:

(a) for each resolution entity or third-country entity that would be a resolution entity if it were established in the Union; and

(b) for each Union parent undertaking as if it were the only resolution entity of the G-SII.

(5) Any decision by the Resolution Committee to impose an additional requirement for own funds and eligible liabilities under sub-regulation (1)(b) or sub-regulation (2)(b) shall contain the reasons for that decision, including a full assessment of the elements referred to in sub-regulation (3), and shall be reviewed by the Resolution Committee without undue delay to reflect any changes in the level of the requirement referred to in Article 104a of the CRD that applies to the resolution group or the Union material subsidiary of a non-EU G-SII.