Financial Services And Markets PART 1 Introductory provisions Citation, commencement and cessation 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interpretation 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Conferral of functions or discretion on the FPC 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Appeals: application of Part 9 of the Financial Services and Markets Act 2000 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 2 Capital conservation buffer Transitional provisions: 1st January 2016 to 31st December 2018 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exemption for small and medium-sized investment firms 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 3 Countercyclical Capital Buffer CHAPTER 1 Overview and interpretation Overview 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meaning of “UK institution” 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 Exposures located in the United Kingdom The buffer guide 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Countercyclical buffer rate 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date from which changes to the buffer rate apply 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Announcement of changes to the buffer rate 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Buffer rate rules 12A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 Exposures located outside the United Kingdom Buffer rates for EEA exposures: before 1st January 2016 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Buffer rates for EEA exposures: savings provision 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Buffer rates for exposures outside the UK 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Buffer rates: integer multiples of 0.25% 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date of application of buffer rates 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Announcement of changes to buffer rates 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 4 Institution-specific countercyclical capital buffers Calculation of buffer before 1st January 2016 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Application of the institution-specific countercyclical capital buffer to holding companies 19A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exemption for small and medium-sized investment firms 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 4 G-SII Buffer Duty of PRA to identify G-SIIs 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G-SIIs: location and nature 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Identification methodology 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sub-catgories of G-SII and corresponding buffer rates 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Re-allocation in exercise of sound supervisory judgement 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Notification, publication and review 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Appeals 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transitional provision: 1st January 2016 to 31st December 2019 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 5 O-SIIs Duty of PRA to identify O-SIIs 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O-SIIs: location and nature 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Identification of O-SIIs 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Publication and review 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Appeals 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 5ZA O-SII Buffers CHAPTER 1 Interpretation and power to impose O-SII buffer Interpretation 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Power for the PRA to require an O-SII buffer to be maintained 34ZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 United Kingdom buffer rates for O-SIIs O-SII buffer rates: The FPC framework 34ZB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Determination by PRA of buffer rates for individual relevant O-SIIs 34ZC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 Date of application and calculation of O-SII buffer Date of application 34ZD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Calculation of buffer 34ZE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 4 Publication, Review and Appeals Publication: United Kingdom buffer rates 34ZF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Review 34ZG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Appeals 34ZH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 5A Systemic Risk Buffer Interpretation 34A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Third country buffer rates: recognition 34B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Requirement to maintain a systemic risk buffer 34C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Third country rates: application to relevant entities 34D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Calculation of the systemic risk buffer 34E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cumulative buffers 34F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Systemic risk buffer exposures 34G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Notifications 34H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Publication: systemic risk buffer 34I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Publication: third country buffer rates 34J . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Review 34K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Appeals 34L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 6 Combined buffer requirement Combined buffer requirement 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 7 Macro-prudential measures: procedure Amendments to the Bank of England Act 1998 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .