Prudential regulation of investment firms in the European Union (ZIFO nr. 32) 2021/7.2.4.0:7.2.4.0 Introductie

Prudential regulation of investment firms in the European Union (ZIFO nr. 32) 2021/7.2.4.0

7.2.4.0 Introductie

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285. The CRR and CRD 2013 contain not only provisions on the initial capital requirement and the own funds requirement for investment firms, but also provisions on consolidation,1 leverage,2 liquidity3 and large exposures.4 This section will discuss the applicability of the other requirements included in the CRR on investment firms. Table 8 provides an overview of the applicability of the different parts of the CRR to investment firms.

Table 8: Overview of other applicable requirements

Application of CRR for investment firms

Application on individual basis

Application on consolidated basis

CRR.Part-2: Own funds

CRR.6.1 – Yes > CRR.6.2, exemption for qualifying holdings outside the financial sector; CRR.498 exemption for ‘Commodity Dealers’

CRR.11.1 – Yes

CRR.Part-3: Capital requirements

CRR.6.1 – Yes > CRR.93.3, CRR.95.1, CRR.95.2, CRR. 96.1, CRR 96.2 and CRR.97 for specific rules

CRR.11.1 – Yes, unless CRR.15 applies

see CRR.98 for specific rules for a group consisting of investment firms that are meant in CRR.95.1 and CRR.96.1

CRR.Part-4: Large exposures

CRR.6.1 – Yes > CRR.388, exemption for investment firms that fulfil the criteria of CRR. 95.1 or 96.1;

CRR.493 exemption for ‘Commodity Dealers’

CRR.11.1 – Yes > CRR.388 exempts groups if the group only consists of investment firms referred to in CRR.95.1 and CRR.96.1

CRR.Part-5: Exposures to transferred credit risk

CRR.6.1 – Yes

CRR.14 – Yes

CRR.Part-6: Liquidity

CRR.6.4 – Only applicable to investment firms that perform activity A3 and A6

CRR.11.3 – Only applicable to investment firms that perform activity A3 and A6

CRR.Part-7: Leverage

CRR.6.5 – Not applicable to investment firms that have an own funds requirement according to CRR.95.1 or CRR.96.1

CRR.11.1 – Yes, unless CRR.16 applies

CRR.Part-8: disclosure

CRR.6.3 – No, unless CRR.17 waiver granted

CRR.13 – Yes

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